The Virtuals Protocol, an AI agent platform that enabling the creation and monetization of AI virtual creatures driven by AI in the blockchain, has seen the daily plummet trading income of 96.8% despite expanding from the base of the Ethereum layer-2 coinbase in Solana.
According to According to Dune Analytics data, the protocol recorded the highest -day -to -day income of more than $ 1 million on January 2, but that figure dropped to less than $ 35,000 to Feb. 27.
Revenue from the Base Virtual App is particularly weak, with revenues left below $ 1,000 for 10 consecutive days, dropping from a sun -day peak of $ 859,000 on October 27, 2024. In total, virtuals formed $ 28,492 on the base network and $ 6,300 on Solana on Feb. 27.
Virtuals’ bad income performance on February 27 was an improvement from the day before, of just over $ 30,000. Source: Dune analytics
The number of new AI agents created on the platform remained below 10 per day in the past 10 days.
Virtuals have had less than 10 agents created since Feb. 18. Source: Dune Analytics
Related: The new agent launches on Virtuals Plummet in the middle of the AI token drawdown
Virtuals are not frustrating from moving to Solana
Originally launched at the base, virtuals draw attention to the AI agent novel with the ability to manage their own cryptocurrency wallets and even tipping social media users to drive a relationship.
On January 25, the project announced Its expansion in the red-hot solana ecosystem. However, Solana’s reputation has suffered in recent weeks following a wave of the President’s failed memecoins, emphasizing powerful scamming issues in the network.
There are currently about 170,000 unique wallets holding tokens of virtual agents at the base, compared to approximately 11,000 in Solana, according to Dune. Wallet activity significantly refused both networks, as only 7,642 wallets exchanged at least one token in Feb. 27.
Related: Solana’s Token Minting Frenzy loses steam while Memecoins
Virtual token struggle in the middle of the market collapse
Virtual Protocol native token has fallen more than 14% in the past 24 hours, according to CoinMarketCap Data. The collapse was at the heart of a broader collapse of the crypto market, with bitcoin loss of 20% of its value last week due to increased trade tensions in the world.
Virtuals are bleeding as global financial markets suffer from losses. Source: CoinMarketCap
Despite the broader market correction, the virtual protocol appears to be losing traction with leading cryptocurrencies. When the protocol first announced its transfer to Solana, it ranked at 68th by market capitalization. Like publishing time, it slides into 92th place.
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