I've been tracking L1 stablecoin chains since Plasma launched in September.
What bugs me isn't the 92% drawdown—it's that 14.9 TPS actual usage while claiming 1,000 TPS capacity. Someone's running validators across this network betting real money that payment volume catches up before July's billion-token unlock. Maybe they see something I don't.
XPLUSDT
Διην.
0.1263
-12.77%