Upbit Lists Virtual Protocol, Driving Surge in AI Token's Value

Upbit, South Korea’s largest cryptocurrency exchange, has officially listed Virtual Protocol (VIRTUAL), marking a significant development in the AI token ecosystem.

The exchange launched trading support for VIRTUAL on January 31, allowing users to trade the token in Korean won (KRW), Bitcoin (BTC), and Tether (USDT) markets.

However, the listing raises questions about why Coinbase hasn’t listed VIRTUAL, opting instead for VVV, a coin that launched shortly before and has already seen an 80% drop from its all-time high (ATH).

This event serves as a notable boost for Virtual Protocol, a project dedicated to the co-ownership of AI agents, which operates on the Base blockchain and has recently expanded to Solana.

VIRTUAL Price Surge Post-Listing

After the announcement by Upbit, VIRTUAL’s price experienced a substantial rally, rising nearly 20% from $2.04 to $2.44 before slightly retracting to its current value of $2.17. VIRTUAL currently holds a market cap of $1.4 billion with a 24-hour trading volume exceeding $650 million.

VIRTUAL Trading Chart

Recovery of AI Tokens

The AI token sector has been on a rebound following the DeepSeek downturn that adversely affected the ecosystem. Virtual Protocol previously reached an all-time high of $5.07 on January 2 but has since shed more than half of its value. The Upbit listing has instilled optimism in traders from South Korea, known for their enthusiasm towards altcoins.

Upbit is now the second major South Korean exchange to support VIRTUAL, following Bithumb, which listed the token back in November 2024. The exchange has enforced trading restrictions at the launch, including a five-minute buy restriction and a limitation on order types for one hour.

“GM to a typical Upbit listing candle.”
— Finn (@finn__crypto) on Twitter

Community Frustration Over Coinbase’s Choices

Despite the rise of Virtual Protocol, many in the crypto community express discontent with Coinbase for not listing VIRTUAL, especially after it opted for lesser-known tokens like $VVV. Lai Yuen, a former crypto influencer, voiced concerns over the selections made by Coinbase.

As the AI sector continues to evolve, VIRTUAL’s listing on Upbit may well herald a period of recovery for AI tokens, driven by heightened interest from both institutional and retail traders.