VIRTUAL Plummets 12% After $7.8M Sell-Off – Is This Just the Beginning?

Another day, another crypto bloodbath. VIRTUAL just got hammered with a 12% nosedive following a $7.8 million sell-off—because nothing says 'healthy market' like panic dumping.

Who's Selling?

Whale movements or paper-handed retail traders? Either way, someone decided today was payday—leaving the rest of the market to clean up the mess.

Technical Outlook

Support levels are crumbling faster than a Bitcoin maximalist's patience during an altseason. If this keeps up, we might be looking at a full-blown capitulation event.

Market Sentiment

Fear's creeping back in—just in time for the usual 'buy the dip' crowd to start their mantra. Because what's crypto without a little irrational optimism?

Closing Thought

Traders are left wondering if this is a temporary blip or the start of something uglier. Either way, grab your popcorn—this could get interesting.

Source: CoinMarketCap

Market analysis suggests that VIRTUAL’s bearish trend may intensify over the next few trading sessions, with the asset potentially trending even lower.

VIRTUAL Spot and DEX activity point to fading investor interest

Spot trading activity declined across both centralized and decentralized exchanges, reflecting weaker interest in the token.

At the time of writing, selling had resumed in the spot markets of centralized cryptocurrency exchanges, with $680,000 worth of VIRTUAL sold in the past 24 hours.

Source: CoinGlass

This sell-off follows two days of buying activity between the 19th and 20th of June, but comes amid falling prices and lower investor demand.

Meanwhile, DEX activity also slumped. Active traders on decentralized exchanges fell to just 1,600, a steep drop that echoed the token’s declining utility.

Bybit and Aerodome lead $7.8M sell-off

AMBCrypto traced the recent sell-off to traders on ByBit and liquidity providers from the on-chain protocol Aerodrome Finance [AERO].

Source: Arkham

At the time of analysis, Funding Rates turned sharply negative on Bybit, dropping to -6.0%. In contrast, Binance and OKX posted positive Funding Rates of 5.0% and 1.0%, respectively.

This negative rate implies that most traders on Bybit’s derivatives market are shorting the asset—an important detail since Bybit controls the second-largest trading volume of VIRTUAL, worth $82 million, according to CoinGlass.

Source: CoinGlass

Similarly, Aerodome Finance removed $7.3 million worth of VIRTUAL from its liquidity pool, according to Arkham Intelligence.

That exit hinted at an urgent repositioning by LPs. The MOVE likely reflects an attempt to avoid further downside as trust erodes.

VIRTUAL Active Addresses plunge

Sentiment in the VIRTUAL market remains bearish, as addresses continue to exit. According to Artemis, Active Addresses dropped to 6,300, the lowest monthly level.

Source: Active addresses

That plunge confirms weakening participation, especially after May’s short-lived spike. Traders appear to be walking away rather than re-entering positions.

With global tensions on the rise and speculative assets facing broader selloffs, VIRTUAL’s short-term outlook remains fragile.

If the trend continues, VIRTUAL’s position on the 90-day index is likely to slip even further.