VIRTUAL Jumps 29% to Top Market Gainers, But Spot Outflows Hint at Speculative Rally

The token behind Virtuals Protocol, a platform for creating and monetizing AI agents, has emerged as the market’s top gainer over the past 24 hours. VIRTUAL has surged 29% in this period.

Despite the spike, large outflows from the VIRTUAL spot market hint at speculative trading driving the rally, rather than real demand.

Here's a closer look at the metrics and what they suggest about VIRTUAL's price movement.

仮想プロトコルを背景としたトークンであるVIRTUALは、過去24時間で市場で最も上昇しました。この期間でVIRTUALは29％上昇しました。

しかし、仮想スポット市場から多額の資金が流出していることから、この上昇は実際の需要というより、投機的な取引によるものだと考えられます。

以下に指標の詳細と、それらが仮想価格の動きについて示唆している内容を示します。

Top Gainer: VIRTUAL Surges 29% in Past 24 Hours, but Spot Outflows Raise Eyebows

The token behind Virtuals Protocol, a platform for creating and monetizing AI agents, has emerged as the market’s top gainer over the past 24 hours.

Despite the spike, large outflows from the VIRTUAL spot market hint at speculative trading driving the rally, rather than real demand.

Here’s a closer look at the metrics and what they suggest about VIRTUAL's price movement.

The price of VIRTUAL currently stands at $3.82. Its price has risen 29% over the past 24 hours, outpacing the top 100 cryptos by market capitalization.

However, the persistent outflows from its spot market over the past two days raise concerns. According to Coinglass, VIRTUAL’s spot market has seen $4 million in outflows during this period, indicating selloffs.

When an asset’s price climbs, but experiences spot outflows, it suggests that while its market value is increasing, investors may be selling or withdrawing the asset. This indicates caution or a lack of confidence, as some participants might be taking profits.

The lack of broader market participation suggests that VIRTUAL’s price surge is primarily fueled by speculative trading activity from a limited number of investors.

This bearish outlook is further supported by the token’s decreasing Chaikin Money Flow (CMF). At the time of writing, VIRTUAL’s CMF is trending downwards and appears set to cross below the zero line.

When an asset’s price rises while its CMF falls, it indicates that the upward price movement is not supported by strong buying pressure. This suggests that the rally may be driven more by short-term factors rather than sustained demand, and there is potential for a reversal or weakening in the price trend.

Readings from VIRTUAL’s Fibonacci Retracement tool show that it currently trades below its all-time high of $5.25, which presents a major resistance level.

However, the token’s waning demand may make revisiting this price peak difficult. Once VIRTUAL selloffs gain pressure, its price will drop to $2.25, where support lies.

On the flip side, if demand for the VIRTUAL token resurges, its price could revisit its all-time high and attempt to rally past it.