Plasma’s XPL Token Rebounds 113% After Launch Day Volatility

Plasma's XPL token staged a dramatic recovery, surging 113% to $1.54 within hours of crashing nearly 30% during its September 25 mainnet debut. The initial sell-off to $0.7218 reflected airdrop recipients liquidating positions, with minimum distributions of 9,304 XPL tokens creating immediate supply pressure.

The rebound gained momentum as selling pressure subsided, supported by $3.4 billion in total value locked within 24 hours of launch. The stablecoin-focused blockchain, backed by Bitfinex and Tether CEO Paolo Ardoino, had raised $500 million in June with $1 billion in wallet deposits during funding phases.

Plasma's infrastructure enables zero-fee USDT transfers and confidential payments while maintaining EVM compatibility. The project's recent $500 million integration with EtherFi's liquid staking protocol adds to fundamental strength behind XPL's recovery to $1.26 at press time.