VIRTUAL Breaks $5: Major Investors Cash Out Millions in Profits
Last week, VIRTUAL, the token powering Virtuals Protocol, crossed the $5 threshold, propelling its market capitalization to an impressive $5 billion. This achievement underscores the growing adoption of the project and investor confidence in its future potential. DeFiance Capital: Early Investor Reaps Massive Gains DeFiance Capital, the lead investor in Virtuals Protocol, played a pivotal role in its development, acquiring 26.42 million $VIRTUAL in December 2023. Since May 2024, the firm has gradually reduced its holdings, selling 7.2 million tokens at an average price of $1.48. This includes 2.2 million sold on-chain and 5 million transferred to Bybit. Most recently, DeFiance Capital moved 500,000 $VIRTUAL ($2.33 million) to Bybit as the token hit $5. Despite these sales, they still retain 19.22 million $VIRTUAL, valued at $89.93 million. While the exact cost of their initial investment is unclear, VIRTUAL’s opening price […]