South Korea’s largest cryptocurrency exchange, Upbit, has officially listed Virtual Protocol (VIRTUAL), marking a significant development in the AI token ecosystem.
The exchange launched trading support for VIRTUAL
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on January 31, allowing users to trade the token in Korean won (KRW), Bitcoin (BTC), and Tether (USDT) markets.
But this listing also raises questions about why Coinbase hasn’t listed VIRTUAL, opting instead for VVV, a coin launched just days ago and already down 80% from its ATH.
This listing is a notable boost for Virtual Protocol, a project focused on the co-ownership of AI agents. The network operates on the Base blockchain and has recently expanded its reach to Solana.
VIRTUAL Price Analysis: How is Top AI Agent Crypto Shaping Up After Korean Exchange Listing?
Following Upbit’s announcement, VIRTUAL’s price saw an immediate surge, climbing nearly 20% from $2.04 to $2.44 before slightly retracting, currently at $2.17. VIRTUAL is at a market cap of $1.4 billion and a trading volume exceeding $650 million in the last 24 hours.
AI Tokens Rebound After DeepSeek-Induced Slump
The AI token sector has been in recovery mode since the DeepSeek downturn, which led to a sharp decline across the ecosystem. Virtual Protocol had previously hit an all-time high of $5.07 on January 2 but has since lost over half of its value.
The Upbit listing has injected fresh optimism into the project, providing renewed exposure to South Korean traders known for their enthusiasm for altcoins.
Upbit’s move makes it the second major South Korean exchange to support VIRTUAL, following Bithumb’s listing in November 2024. The exchange implemented trading restrictions at launch, including a five-minute buy restriction and an hour-long limitation on order types.
GM to a typical Upbit listing candle.#VIRTUAL pic.twitter.com/jn2pSwH5Lu
— Finn (@finn__crypto) January 31, 2025
Disappointment Over Coinbase’s Decision To Not List Virtual
Despite the growing traction of Virtual Protocol, Coinbase has yet to list VIRTUAL, causing frustration within the crypto community.
Many traders have expressed disappointment, especially after Coinbase opted to list lesser-known tokens like $VVV instead. There is a widely shared sentiment of frustration for these listings and the criteria they follow. VVV is currently down 80% from launch day. Not a good look for Coinbase.
How could they list $VVV and not $VIRTUAL
This does not make any sense even as a neutral objective party
— Lai Yuen (Former .eth) (@0xlaiyuen) January 28, 2025
As the AI sector evolves, VIRTUAL’s listing on Upbit signals potential recovery for AI tokens. With increasing institutional and retail interest, Virtual Protocol may be ready for its next major move.
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