VIRTUAL experienced a 12% big dump: negative funding rate and the withdrawal of $7.3 million liquidity raised market concerns.

[Coin World] Background Information: Virtuals Protocol (VIRTUAL) has fallen by 12.03% in the past 24 hours, dropping from $1.56 to $1.37, continuing the overall downward trend since June. Although the token still maintains a 106% rise in the 90-day Altseason index, recent geopolitical tensions, especially the US and Israel’s airstrikes on Iran, have led to increased market fluctuations. Key Events: - Spot trading activity has decreased on both centralized and decentralized exchanges, reflecting a decline in investor interest. - A certain trading platform’s funding rate has turned negative (-6.0%), indicating that most traders are shorting VIRTUAL. - The on-chain protocol Aerodrome Finance has withdrawn $7.3 million worth of VIRTUAL liquidity, indicating that liquidity providers are eager to adjust positions to avoid risks. - The number of active addresses has dropped to 6,300, marking a monthly low and showing decreased market participation. Potential Impact: As global tensions escalate and speculative assets are broadly dumped, VIRTUAL’s short-term outlook remains weak, and if the trend continues, its ranking in the 90-day index may further decline.