Understanding the 3.03 Percentage Point Move in Virtuals Protocol (VIRTUAL)
The 3.03 percentage point move in Virtuals Protocol (VIRTUAL) over the last ~15 hours is best explained by a broad, leverage driven crypto selloff, not any VIRTUAL specific news.
Broad Liquidation Shock Hit Altcoins
Over the relevant 24 hour window, Bitcoin and majors sold off sharply while derivatives liquidations surged.
- Multiple reports describe Bitcoin dropping from the low 80,000s to near 80,000 on 8 Oct, with crypto liquidations exceeding $1 billion in 24 hours, overwhelmingly hitting leveraged longs.¹
- One analysis cites about $1.16 billion in liquidations over 24 hours, roughly $1.05 billion from long positions, impacting Bitcoin, Ethereum, Solana, XRP,…
