VIRTUAL Price Surge: Spot and Derivatives Traders Actively Buying to Drive Market

The price of Virtuals Protocol (VIRTUAL) has risen by 10.48% in the past 24 hours, driven mainly by increased activity in the spot and derivatives markets. Despite the overall market decline, spot traders have accumulated $10.45 million worth of VIRTUAL, indicating strong interest. The open interest in the derivatives market grew by 13.3% to $230 million, with a significant number of short positions being liquidated, resulting in losses of approximately $124,670 for short traders, which is double the losses of long traders. Technical analysis shows that VIRTUAL has broken through a key resistance level, with the Aroon indicator signaling a bullish trend, suggesting that the price could rise to $2.5. Smart money investors have increased their holdings, making VIRTUAL the most accumulated memecoin or AI token. In the 90-day index ranking, VIRTUAL is listed as the 4th best-performing asset, outperforming all top ten cryptocurrencies by market capitalization.