The stablecoin infrastructure hopeful is trading nearly 90% below its early peak, with thin usage, supply pressure and sparse communication fueling uncertainty about whether the sell-off has truly run its course.
Once billed as the “blockchain for stablecoins,” Plasma’s XPL token has plunged from its $1.67 peak to $0.31 amid low network activity and waning sentiment
The firm behind the fast-growing stablecoin blockchain also plans to obtain MiCA and EMI licenses as part of its expansion in Europe.
Supply has surged 72% year-over-year, led by Ethereum, Solana, and Plasma’s record debut, as stablecoins begin to mirror core banking functions
Chainlink will provide oracle, cross-chain and data services to the Plasma network to support stablecoin use cases.
XPL functions as a gas token, staking asset, and reward token, with a total supply of 10 billion tokens.
Plasma has launched its mainnet beta with more than $2 billion in stablecoin liquidity while also debuting its native token XPL.
Also: Plasma to Launch Mainnet This Week, New Liquid Staking Token for XRP Holders, and ICP Bets Big on AI Tech Stack.
The stablecoin sector is entering a new phase of competition, with major players unveiling fresh initiatives to capture part of the $280 billion market. On Sept. 22, PayPal, Bitfinex-backed Plasma, and Polkadot’s Hydration protocol announced new projects to strengthen the role of dollar-pegged assets in global finance. Neobank, DeFi, and Payments Plasma is positioning itself […]
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The rollout comes ahead of Plasma’s mainnet beta launch on September 25.
Plasma has unveiled its stablecoin-focused neobank dubbed Plasma One less than a week before its mainnet and XPL token launched,
The team claims that the network will debut with more than $2 billion in stablecoin liquidity.
Plasma will launch its mainnet beta on Sept. 25 with zero-fee USDT transfers, a projected $2 billion-plus in stablecoin TVL and 100+ DeFi integrations.
Open interest on Hyperliquid’s XPL market plunged from $160 million to $30 million in minutes as a trader-triggered price spike caused mass auto-deleveraging.
Plasma’s XPL token began trading on pre-market venues, with Hyperliquid launching leveraged “hyperps” and Binance opening order books.
Binance launched a Plasma USDT Locked Product under Simple Earn’s on-chain yields, offering daily USDT rewards and a 100 million-XPL airdrop pool.
The on-chain yield program quickly attracted investors with offering Plasma's XPL native token rewards.
The Plasma network will hold $1 billion in stablecoins at launch and offer fee-free stablecoin transfers.
Investor demand for Plasma’s upcoming XPL token continues to soar, with the stablecoin infrastructure platform now securing $1 billion in deposits to support the planned sale. Plasma confirmed that its revised $1 billion deposit cap was reached in under 30 minutes on June 12, doubling its initial $500 million target. The firm stated that 2,900 […]
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Depositors earn the right to participate in the sale based on their final units at the time of the lock-up.
Plasma, a blockchain platform focused on stablecoin infrastructure, is making waves across the crypto space for raising $500 million through its XPL token offering and securing a strategic partnership with DeFi giant Aave in the last 24 hours. The Aave collaboration will see Plasma integrate the DeFi protocol’s lending and liquidity infrastructure to distribute USDT […]
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The oversubscribed raise follows stablecoin issuer Circle’s massive IPO last week, underscoring investor appetite for stablecoin-related projects.
Other key features of Plasma include custom gas tokens, zero-charge USDT transfers, and confidential transactions while ensuring compliance.