XPL (Plasma) fell 13.44% in the last 24 hours.

Gate News Bot news, on October 10, according to CoinMarketCap data, as of the time of this report, XPL (Plasma) is currently priced at $0.75, falling 13.44% within 24 hours, with a high of $1.07 and a low of $0.72, and a 24-hour volume of $4.594 billion. The current market capitalization is approximately $1.353 billion, a decrease of about $210 million compared to yesterday. XPL is currently ranked 67th in the global Crypto Assets market capitalization.

Important recent news about XPL:

1️⃣ Rapid Growth of Plasma Network DeFi Ecosystem The total locked value (TVL) of the Plasma network's DeFi has surpassed that of the Tron network, reaching $6.372 billion, with a daily increase of up to 17.77%. This significant growth indicates that the Plasma ecosystem is rapidly expanding, attracting a large influx of funds, providing potential support for the price of XPL.

2️⃣ Large short positions increase A whale with an address starting with 0x4f7 continues to add to short positions in XPL, increasing its holdings by over 1 million coins, bringing the total holdings to 10.19 million dollars, with an unrealized profit of 2.96 million dollars. This indicates that some large funds hold a cautious attitude towards the short-term trend of XPL, which may create certain pressure on the price.

3️⃣ Trends of Notable Traders Trader Eugene has indicated that he has temporarily exited XPL, having previously established a position below 1 dollar. Eugene plans to wait for a natural bottom to form before re-entering. This move reflects a cautious stance among some professional investors regarding the current price trend of XPL, which may influence market sentiment.

From a technical perspective, the XPL price has recently experienced a significant pullback, currently hovering below 1 dollar. The increase in large short positions may continue to apply pressure on the price. However, the rapid growth of the Plasma network's DeFi ecosystem may provide long-term support for XPL. Investors should closely monitor market trends and weigh the risks.

This message does not constitute investment advice, and investors should be aware of market volatility risks.