Crypto Whales Are Already Circling Plasma’s XPL Token Just 24 Hours Post-Launch

Whales make their move as Plasma's native token hits the market.

Market Movements

Large-scale investors wasted no time positioning themselves around XPL the moment trading went live. The token's launch triggered immediate whale activity patterns typically reserved for established assets—not day-old projects.

Trading Dynamics

Plasma's infrastructure promises faster transaction finality than legacy chains, attracting speculators betting on scalability solutions. Early volume spikes suggest institutional interest despite the token's nascent status.

Market Psychology

Whale accumulation this early signals either insider confidence or sophisticated money anticipating retail FOMO. Either way, it's the crypto equivalent of sharks detecting blood in the water within hours of a new asset's birth.

Because nothing says 'sound investment' like billionaires playing hot potato with digital assets that didn't exist yesterday.

Market sentiment turns mixed

Data from Coinglass reveals a mixed sentiment regarding XPL. On Binance, the long-to-short ratio is at 0.6915, while OKX shows a lower figure of 0.43. This indicates that more traders are anticipating a downturn. However, among the top traders on Binance, the position ratios have shifted to 3.1431, suggesting that the bigger players are betting on a price increase. 

Liquidations underscored volatility. Within one hour, $1.74 million in positions were wiped out, mostly shorts. Over four hours, total liquidations ROSE to $8.7 million. In 12 hours, they spiked to $39.23 million. Across 24 hours, losses totaled $55.69 million, split evenly between longs and shorts.

Plasma’s bold vision

Plasma launched yesterday with more than $2 billion total value locked (TVL) in stablecoins. This instantly placed it among the top 10 blockchains by liquidity. CEO Paul Faecks emphasized that “Stablecoins are Money 2.0,” highlighting global dollar access as a key goal.

However, investor Simon Dedic warned of near-term risks, staking, “Public sale participants are up 17x here. Most will take profits, creating heavy sell pressure.”

At the moment, whales are betting big on XPL, showing trust in Plasma. However, many early buyers hold huge profits, raising concerns about huge sell-off and sharp price swings.

Also Read: XPL Price Surges 58% As Plasma Mainnet Goes Live With Tether