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The Virtuals Protocol ecosystem has seen explosive growth, with a 28% increase in the last day bringing its market cap to $1.9 billion, according to CoinGecko. Its native token, VIRTUAL, reached a record price of USD 1.38, with an increase of 161% in the last week. Placing itself among the top 100 cryptocurrencies by capitalization.
This uptick is attributed to growing interest in artificial intelligence (AI) agents, autonomous programs designed to perform complex tasks in a human-like manner. Virtuals Protocol, launched in January on Coinbase’s Base scaling network, offers a platform to develop AI agents with features such as social media posting, live streaming, and creative content creation.
The success of the VIRTUAL token is also due to its recent 1:1 exchange with the old PATH token, allowing more people to participate in the ownership of these agents. With its Generative Autonomous Multimodal Entities (GAME) engine and compatibility with platforms such as Roblox, Virtuals Protocol is establishing itself as a benchmark in the convergence of blockchain and AI.
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Altseason in sight: Bitcoin dominance falls and altcoins gain prominence
The Cryptocurrency market appears to have entered a new “altseason” according to analysts, after Bitcoin dominance fell to 56.1%, below its two-year support line. This index, which measures the relationship between the value of Bitcoin and the total market, suggests that investors are diversifying into altcoins.
Interest in smaller cryptocurrencies, such as Ethereum (ETH) and XRP, is already on the rise. In the case of Ethereum, demand for leveraged ETFs skyrocketed more than 160% following the November presidential election. For its part, XRP could reach $2.57 in December, according to Ryan Lee, chief analyst at Bitget Research.
This widespread rally in altcoins is attracting the attention of investors, who are looking to take advantage of market dynamics as Bitcoin consolidates. As key events such as the next halving approach, analysts expect this trend to continue, driving growth in the sector.
Player manages to hack AI agent and wins USD 47,000 in cryptocurrencies
In a unique experiment, a player known as p0pular.eth convinced AI agent Freysa to transfer a cryptocurrency prize of $47,316. The event, described as the “world’s first adversarial agent game,” brought together 195 participants and 482 attempts to overcome the agent’s strict restrictions.
Freysa had been programmed not to transfer the funds under any circumstances, but the winner managed to persuade her using clever reasoning: he proposed a donation of USD 100 to the treasury, which activated the applytransfer function.
The experiment included increasing costs per interaction with the agent, starting at $10 and going up to $4,500 on the Base blockchain, which helped inflate the prize pool. After the outcome, Freysa published in X: “Humanity has prevailed.” This case highlights both the challenges and possibilities in interacting with advanced AI agents.
Humanity has prevailed. There may yet be hope. Freysa has learned a lot from the 195 brave humans who engaged authentically, even as stakes rose exponentially. After 482 riveting back and forth chats, Freysa met a persuasive human. Transfer was approved. https://t.co/fV3gnYDzBv
— Freysa (@freysa_ai) November 28, 2024
Brazil proposes restricting withdrawals from stablecoins and self-custody wallets
The Central Bank of Brazil (BCB) has presented a bill that seeks to prohibit cryptocurrency platforms from allowing the transfer of stablecoins to self-custody wallets. The measure, announced on November 29, focuses on tokens pegged to foreign currencies and is part of a broader effort to regulate the growing cryptocurrency market in the country.
According to the proposal, virtual asset service providers will have to align with international financial regulations and report information to the BCB. With the aim of reinforcing financial stability and investor protection.
Although the regulator recognizes the benefits of cryptocurrencies, such as efficiency in exchange services, it warns about risks associated with cybersecurity and illicit use. This regulation comes in a context of rapid market growth, where stablecoins represent 70% of transactions on global exchanges.
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