Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnSquareMore
Why is Plasma (XPL) Price Up 30% Today?

Why is Plasma (XPL) Price Up 30% Today?

CoinspeakerCoinspeaker2025/09/25 16:00
By:By Ibrahim Ajibade Editor Marco T. Lanz

Plasma, Bitfinex-backed Layer 1 blockchain, achieves remarkable $3.14 billion TVL within 24 hours of launch on Sept 25. The explosive adoption drove XPL token price up 35% following strategic exchange listings.

Key Notes

  • Bitfinex-backed Plasma blockchain becomes eighth-largest within one day, securing $3.14 billion in deposits.
  • XPL token price jumped 35% to $1.43 peak with $2.5 billion market cap on launch day trading.
  • Bybit exchange partnership offers zero-fee USDT transfers and 9 million XPL rewards program for early adopters.

Plasma is a new Layer 1 blockchain backed by Bitfinex, a sister company of the stablecoin giant Tether. It aims to deliver low-cost, high-speed transfers, particularly for Tether’s USDT, to provide competition to rivals like Circle’s Arc Blockchain and Stripe’s Tempo .

Plasma (XPL) @PlasmaFDN is now live on #Binance Spot.

We’re celebrating with 3 special promotions → 12,500,000 XPL in token vouchers up for grabs. Plus, a bonus reward for top traders.

Don’t miss out 👉

— Binance (@binance) September 25, 2025

Following a timely listing on Binance and a critical partnership with hardware crypto-wallet provider Backpack , Plasma has attracted more than $3 billion in Total Value Locked (TVL) deposits within 24 hours of its launch on Sept. 25.

Why is Plasma (XPL) Price Up 30% Today? image 0

Plasma Total Value Locked hit $3.14 billion within 24 hours post-launch | Source: DeFiLlama, Sept. 26.

According to DeFiLlama data , the blockchain has also taken in $125,000 in fees from $117 million on-chain transaction volumes.

Why is Plasma (XPL) Price Up Today?

Plasma’s explosive on-chain adoption makes it the eighth-largest blockchain within 24 hours post-launch. The instant impact also reflects in its native XPL token price action.

As seen in the CoinMarketCap chart below, XPL price rallied 35% on Friday, trading as high as $1.43, with a peak market cap of $2.5 billion and daily volume exceeding $5 billion. An imminent XPL community campaign cited in its latest partnership announcement with Bybit could potentially intensify the market frenzy.

Why is Plasma (XPL) Price Up 30% Today? image 1

Plasma (XPL) Price Action | Source: CoinMarketCap

On Thursday, Bybit, the world’s second-largest exchange by trading volume, confirmed it will list XPL and enable Tether USDT $1.00 24h volatility: 0.0% Market cap: $174.29 B Vol. 24h: $83.92 B deposits and withdrawals through Plasma with zero transfer fees.

For the first time, the world’s largest crypto exchange brings crypto’s largest lending protocol into its Earn suite, powered by Plasma.

280M+ Binance users can now earn with Plasma USD₮ via Aave’s lending rails, with more incentives ahead.

The future is bright, on Plasma.

— Plasma (@Plasma) September 25, 2025

Bybit is also rolling out a community campaign to incentivize early XPL adoption. According to the press release, the “XPL Tokensplash” rewards program allocates 9 million XPL tokens to users through deposit, trading, and staking activities.

New participants can earn up to 300 XPL each, while existing users qualify for prize pools by trading or depositing USDT via Plasma.

Beyond the rewards program, Bybit also offers Plasma users zero-fee USDT withdrawals, staking yield up to 100% APR for new users and a separate $100,000 USDT lucky draw for depositors, creating additional incentives for onboarding.

Maxi Doge Gains Momentum as Traders Seek High-Risk Plays Beyond BNB

Why is Plasma (XPL) Price Up 30% Today? image 2

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

Textbook Liquidation: Monero Whale Faces $1.9M Loss in Leverage Trade

- A Monero whale's 3× leveraged $5.6M long position was liquidated at $0.02298, resulting in a $1.9M loss amid volatile price swings. - The trader initially gained $654K as MON surged but faced rapid reversal, highlighting risks of overleveraging in low-liquidity altcoins. - Analysts warn such high-risk strategies amplify both gains and losses, with liquidation margins often razor-thin in speculative crypto markets. - The event sparked mixed market reactions, with some viewing it as a cautionary tale while

Bitget-RWA2025/11/30 06:50
Textbook Liquidation: Monero Whale Faces $1.9M Loss in Leverage Trade

Bitcoin News Today: BlackRock's ETFs: Institutional Embrace of Bitcoin Drives $245 Million in Revenue

- BlackRock's Bitcoin ETF (IBIT) drove $42.8M inflows on Nov 27, stabilizing BTC's $90K rebound amid macroeconomic uncertainty. - ETFs now hold 3% of Bitcoin's supply and $18.88B in ETH assets, shifting institutional focus from speculation to long-term accumulation. - Grayscale's Zcash ETF filing highlights growing altcoin demand, with ZEC surging 500% in two months amid privacy token trends. - Nasdaq's proposed IBIT options expansion to 1M contracts would align the ETF with major benchmarks like SPY, refl

Bitget-RWA2025/11/30 06:50
Bitcoin News Today: BlackRock's ETFs: Institutional Embrace of Bitcoin Drives $245 Million in Revenue

Algorand - Has Declined 58.36% This Year Due to Market Fluctuations

- Algorand’s (ALGO) price fell 58.36% year-to-date, despite a stable 24-hour close of $0.1393. - The token ranks #86 with $1.23B market cap, attracting institutional interest but failing to sustain gains. - Founded by MIT’s Silvio Micali in 2017, Algorand aims to solve blockchain’s scalability-trilemma but faces adoption skepticism. - With 8.8B of 10B tokens in circulation, limited inflationary pressure contrasts with macroeconomic-driven price declines. - Analysts highlight the need for clearer enterprise

Bitget-RWA2025/11/30 06:40

TAO Halving: Will It Spark an AI-Crypto Rally or Trigger a Prolonged Correction?

- Bittensor's first TAO halving (mid-Dec 2025) cuts block rewards by 50%, aiming to reduce inflation and boost price potential through supply scarcity. - Market analysts compare this supply-driven mechanism to Bitcoin's halving pattern, noting intensified miner competition and potential bullish cycles. - While reduced liquidity and macro risks (regulation, supply chains) persist, AI sector growth (e.g., Fluence's $5.3B backlog) could amplify TAO's post-halving momentum. - The automatic halving requires no

Bitget-RWA2025/11/30 06:32
TAO Halving: Will It Spark an AI-Crypto Rally or Trigger a Prolonged Correction?