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 of $0.01 suggests this has been an exceptionally lucrative venture for the firm.
Smart Money Cashes Out with 8x Profit
A smart money wallet further highlighted the profitability of VIRTUAL investments. Between October and December 2024, this address purchased 1.048 million $VIRTUAL on-chain for 531,000 USDC, at an average cost of $0.50 per token.
Two hours ago, the investor transferred 850,000 $VIRTUAL to Bybit when the price had risen to $4.50. This move secured a profit of $4.24 million, reflecting an 800% return on investment.
Conclusion
The success of VIRTUAL has enabled both institutional and individual investors to secure impressive gains. With its growing market value and increasing interest from major players, VIRTUAL has cemented itself as one of the standout tokens in the crypto space.
Disclosure: This is not trading or investment advice. Always do your research before buying any Metaverse crypto coins.