Plasma, a blockchain protocol focused on stablecoins, has recently made headlines with the debut of its native token, XPL, which quickly achieved a market capitalization of over $2.8 billion. Despite its promising start, the token experienced a significant price drop of over 50%, leading to accusations of insider selling, which were denied by Plasma's founder. The protocol continues to innovate, launching a neobank called Plasma One to facilitate stablecoin transactions in emerging markets and announcing a mainnet beta with $2 billion in stablecoin liquidity.
These developments underscore Plasma's ambition to drive global stablecoin adoption, leveraging its zero-fee transfer feature to attract users. The protocol's integration with Chainlink services further enhances its credibility, while Ethereum co-founder Vitalik Buterin's comments highlight Plasma's potential as a security upgrade for blockchain networks. Despite recent market volatility, Plasma's strategic moves position it as a significant player in the evolving cryptocurrency landscape, with its market cap briefly reaching $13 billion amid a broader crypto rebound.
Plasma Blockchain and XPL: A Deep Dive into Recent Developments
October 09, 2025
1 min read
Plasma, a blockchain protocol focused on stablecoins, has recently made headlines with the debut of its native token, XPL, which quickly achieved a market capitalization of over $2.8 billion. Despite its promising start, the token experienced a significant price drop of over 50%, leading to accusations of insider selling, which were denied by Plasma's founder.