XPL (Plasma) has pumped 19.93% in the last 24 hours.

Gate News Bot news, on September 28, according to CoinMarketCap data, XPL (Plasma) is currently priced at $1.59, with a rise of 19.93% in the last 24 hours, reaching a high of $1.68 and a low of $0.69. The 24-hour volume has reached $3.35 billion. The current market capitalization is approximately $2.857 billion, an increase of $475 million compared to yesterday.

Plasma is a high-performance Layer 1 blockchain designed specifically for stablecoins. It aims to provide stablecoin infrastructure for a new global financial system, supporting near-instant, fee-less payments while offering institutional-grade security. Plasma can process over 1000 transactions per second, with a block time of less than 1 second. Currently, Plasma supports more than 15 stablecoins, with stablecoin deposits exceeding $1 billion, making it the 6th largest network by USDT balance.

Important news about XPL recently:

1️⃣ Plasma mainnet successfully launched and multiple DeFi projects introduced Plasma officially launched its mainnet on September 25 and introduced its native token XPL. The new network is positioned as the infrastructure for global capital flow, compatible with EVM, and supports zero-fee transfers for USDT. Meanwhile, Plasma has integrated over 100 DeFi projects, including well-known protocols such as Aave, Ethena, Fluid, and Euler, providing users with a rich selection of financial services.

2️⃣ Plasma One application launched, targeting high dollar demand market Plasma announced the launch of a stablecoin native financial application called Plasma One. This application allows users to make payments directly from their stablecoin balance while earning over 10% returns. Plasma One will focus on markets with high demand for USD, such as Istanbul, Buenos Aires, and Dubai, and is expected to promote the application and adoption of XPL in these regions.

3️⃣ Plasma stablecoin ecosystem rapid expansion The supply of stablecoins on the Plasma platform surpassed $7 billion in just 2 days, reflecting strong market demand for the platform. In addition, Ethena launched the USDe and sUSDe stablecoins on Plasma, which have been listed on multiple DeFi protocols such as Aave, Curve, Balancer, and Fluid, further enriching the stablecoin ecosystem of Plasma.

From a technical perspective, the XPL price has been continuously rising since the mainnet launch, reflecting the market's positive expectations for the Plasma project. However, investors should also be aware that such a rapid price rise in the short term may bring the risk of a pullback. At the same time, the ongoing expansion and feature enhancement of the Plasma ecosystem are expected to provide long-term value support for XPL.

This message is not intended as investment advice; investors should be aware of market volatility risks.