Plasma, a blockchain protocol focused on stablecoins, has made significant strides with the debut of its native token, XPL, which quickly achieved a market capitalization of over $2.8 billion. Despite a subsequent 50% price drop and insider selling allegations, the founder denied any wrongdoing, maintaining confidence in the project's long-term vision. The launch of Plasma One, a neobank for stablecoin users, and the announcement of a mainnet beta with $2 billion in stablecoin liquidity, underscore Plasma's commitment to expanding stablecoin adoption globally.
Vitalik Buterin's endorsement of Plasma as an 'underrated' scaling solution highlights its potential for enhancing blockchain security. Meanwhile, the network's ability to attract meme coin traders, as seen with the 'Trillions' token surge, indicates its growing influence in the crypto market. As Plasma briefly reached a $13 billion market cap, it reflects the increasing interest and investment in stablecoin infrastructures, positioning Plasma as a pivotal player in the evolving digital currency landscape.
Unpacking XPL: Plasma's Bold Move in Stablecoins and DeFi
October 11, 2025
1 min read
Plasma, a blockchain protocol focused on stablecoins, has made significant strides with the debut of its native token, XPL, which quickly achieved a market capitalization of over $2.8 billion. Despite a subsequent 50% price drop and insider selling allegations, the founder denied any wrongdoing, maintaining confidence in the project's long-term vision.