The daily revenue of the AI agent deployment platform Virtuals has plummeted from a peak of $976,748 in early January to $13,643, according to Dune data.

Virtuals, originally launched on Base, enables users to create and deploy AI agents. In late January, the project expanded to Solana.

During this period, the platform’s native token price has collapsed by 89%, from a high of $5.15 to $0.56.

“AI agent platforms have been in a downtrend due to low liquidity caused by macroeconomic pressures, unproven utility, excessive token supply, and cooling interest in traditional AI,” said Dominic John, an analyst at Kronos Research.

The largest agent on Virtuals is AIXBT, which accounts for nearly half of the platform’s total market cap.

As of November 30, Virtuals had facilitated the creation of 1,365 AI agents. However, activity has since declined—only one new project was launched on March 10.

Blockworks Research analyst Dan Smith noted that Virtuals made a smart move by diversifying its revenue streams.

*”Activity and revenue on Virtuals have fallen off a cliff, along with most on-chain operations. No new agents were created yesterday.
However, the team acted wisely by diversifying its revenue through its native token. They now hold $12.1 million in cbBTC, which provides more room for product iteration,”* he wrote.

At its peak in early 2025, the number of active wallets engaging in daily trades reached 58,641. That number has since declined more than tenfold to 5,585.

The AI-driven token sector saw a rapid rise followed by an equally sharp decline. In early January 2025, the total market cap of AI-inspired tokens peaked at $11 billion, while daily trading volume approached $2.5 billion.

Despite this, Dragonfly managing partner Haseeb Qureshi believes that AI agents will become the dominant narrative in crypto for 2025. Meanwhile, Bitget CEO Gracy Chen has forecasted that the sector could grow to $60 billion.

Earlier this month, Franklin Templeton experts predicted an AI-driven revolution in content creation, powered by intelligent agents.