TechFlow reports that on December 14, according to on-chain data analyst Aunt Ai, an address suspected to belong to the VIRTUAL project team or early participants deposited 7 million VIRTUAL tokens (worth $17.09 million) into Bybit over the past 17 hours. Over the past two months, this address has cumulatively deposited 11.97 million tokens worth up to $25.74 million into exchanges.
The address previously received 54.85 million VIRTUAL tokens via an airdrop on the Ethereum mainnet on December 23, 2023—accounting for 5.49% of the total supply—and later bridged these tokens to the Base network in April 2024. Through multiple transfers, 10 million of these tokens were moved to the current address. The original address still holds VIRTUAL tokens worth approximately $100 million.
Transaction records show that VIRTUAL was initially launched on the Ethereum mainnet before migrating to the Base network, where it underwent transformation and further development. CMC also indicates that the token is deployed on both networks.
