VIRTUAL jumps 11% as futures inflows surge, but protocol activity keeps falling
- —VIRTUAL gained up to 11% intraday on October 5
- —Perpetual futures inflows hit $49.24 million in 24 hours, with Netflow at $2.3 million
- —Open interest rose 25% to $133.26 million; funding rate positive at 0.0056%
- —Daily active users fell from 4,000 to 1,500; revenue dropped to about $3,800
Why it matters: The rally rests on trader positioning rather than protocol usage, leaving it exposed if trading appetite cools and users and revenue do not recover.
Source: AMBCrypto