Big development in the stablecoin race and Plasma $XPL is starting to stand out.
@Plasma is a purpose built Layer 1 focused entirely on fast, cheap, global USD₮ payments. No distractions. No general narrative hopping. Just payments done properly. Launched in late 2025, the chain already delivers instant settlement, near zero fees, and full EVM compatibility, which makes it usable both for real world transfers and DeFi integrations.
Adoption has been meaningful for such a young network. Stablecoin deposits have already crossed $10B across more than 15 assets, with integrations including Aave and a growing list of partners operating in over 100 countries. This is clearly not just a testnet experiment.
The $XPL token sits at the center of the system, used for staking, fees when not sponsored, and governance. After an early hype-driven run to $1.68, price has reset hard and is now trading around $0.12 to $0.13, putting the market cap near $260M.
One thing to watch closely is the upcoming unlock. About 88.89M $XPL will unlock on January 25, which is likely to introduce short term volatility and potential downside pressure.
Zooming out, Plasma’s strength is focus. Stablecoins are scaling globally, and a chain built purely for that use case, with Bitcoin anchored security, is a serious long term bet. The unlock will test conviction, but the infrastructure narrative remains intact.
