- Upbit has listed Virtuals Protocol (VIRTUAL), expanding its accessibility with KRW, BTC, and USDT trading pairs.
- Virtuals Protocol integrates with Solana, enhances security, and explores new strategies despite recent challenges in daily revenue.
Upbit, the largest crypto exchange in South Korea, has just listed Virtuals Protocol (VIRTUAL), allowing users to trade it with KRW, BTC, and USDT.
Following the announcement, VIRTUAL surged nearly 28% to $2.61, nearing a downtrend that has represented a drop from its January 2 high of roughly $5.25.
신규 디지털 자산 버추얼프로토콜(VIRTUAL) 거래지원 개시 시점 안내
지원 마켓: KRW, BTC, USDT 마켓
거래지원 개시 시점 : 2025-01-31 20:00 KST 예정
공지 바로가기:https://t.co/13avaKbfdP#Upbit #VIRTUAL@virtuals_io pic.twitter.com/bseZa3DRdz
— Upbit Korea (@Official_Upbit) January 31, 2025
Virtual Protocol and Solana Integration
Virtus Protocol is also extending its reach into the Solana ecosystem, according to CNF. This choice was taken to benefit from the Solana network’s speed and efficiency in facilitating supporting cross-chain transactions. Virtuals Protocol intends to set a Solana reserve using 1% of trading fees as part of this development.
Furthermore included in this operation is the opening of the Meteora liquidity pool, which will help users with transactions. In addition, under preparation is a larger award scheme to assist early-stage innovators wishing to establish Solana-based projects.
Quick Move by the Virtuals Team and Smart Contract Bug
Virtuals Protocol’s path has not always been flawless, though. The development team recently encountered a smart contract flaw connected to the Agent Tokens creation process that presented a difficulty. The fundamental Virtuals ecosystem is based on tokenizing, hence this flaw could impede that process. Luckily, an unidentified security researcher found the problem soon and the Virtuals team acted fast to resolve it.
This repair reveals Virtuals Protocol’s seriousness in preserving community confidence. Furthermore, the team guarantees that its security system is always developing so that such events never resurface.
Virtuals Daily Revenue Drops Sharply
One area of concern among the several encouraging improvements is the daily income of Virtuals Protocol has reduced significantly. Early in January, daily income on the platform came to $1.58 million. But in less than three weeks, on January 21, this amount dropped to barely $21,927.
The community is worried about this drastic shift, particularly with relation to the viability of Virtuals Protocol’s business model continuing ahead.
