VIRTUAL price has broken sharply from a months-long downtrend, fueled by a surge in agent-to-agent transactions following adoption of Coinbase’s x402 protocol.
Summary
- VIRTUAL price surged from $1.00 to a peak of $1.65, clearing major resistance at $1.20 and signaling a potential trend reversal.
- Weekly agent-to-agent transactions jumped from under 5K to over 25K in the week following the adoption of x402, highlighting growing on-chain usage.
Virtuals Protocol (VIRTUAL) has recently staged an explosive breakout from a descending channel that had confined price action since late May. The breakout occurred near the psychological $1.00 level and propelled VIRTUAL price sharply higher, clearing major resistance at $1.18–$1.20 — marked by a confluence of a prior swing high, the 0.382 Fib, and the 100-day SMA.
The rally peaked at $1.65 and price has now begun to pull back, currently trading at $1.45. Ideally, VIRTUAL price should find support within the $1.15–$1.25 zone. A bounce above this level would confirm the trend reversal and open the door to the next Fib resistances near $1.70 and $2.10.
What’s driving VIRTUAL price?
The key factor fueling VIRTUAL price rally appears to be the integration of Coinbase’s x402 protocol into its ecosystem. The x402 protocol is an open payment standard developed by Coinbase that enables AI agents and services to make instant, on-chain stablecoin payments directly over HTTP, without the need for accounts, subscriptions, or complex authentication processes.
Virtuals has adopted the protocol to power transactions between AI agents on its network. As a result, weekly agent-to-agent transactions on the network surged from under 5K to over 25K in the week beginning October 19.
Beyond AI agents integrating the x402 protocol for on-chain payments, the Virtuals ecosystem is also seeing rapid growth and adoption across multiple projects, including new tools for autonomous trading, robotics, and DeFi, along with ecosystem-wide developments, like Coinbase support and cross-chain capabilities.
