The Plasma blockchain debuted its native token, XPL, on major exchanges including Binance and OKX, hitting a market cap of $2.8 billion.
By Bhushan Akolkar
Editor Hamza Tariq
Updated
3 mins read
The stablecoin-focused Plasma blockchain has officially launched its native token, XPL, on major cryptocurrency exchanges, including Binance and OKX, on September 25.
In early trading, XPL reached $1.54, giving it a market capitalization of over $2.8 billion. The blockchain has a total supply of 10 billion tokens, with 1.8 billion (18%) currently in circulation.
Plasma debuted with over $2 billion in stablecoin total value locked (TVL) and features an EVM-compatible design. Its native crypto XPL serves multiple use cases.
It can function as the gas token for transactions and smart contract execution, the staking asset securing the network, and the reward token for validators.
The blockchain also enables gasless transfers of stablecoins for simple transactions such as sending and receiving USDT.
More complex activities, including deploying contracts or decentralized applications (dApps), require XPL to be paid as gas or a partial conversion of stablecoins to XPL.
Earlier this week, Plasma also launched Plasma One, a stablecoin-native neobank designed to offer users permissionless access to spending, earning, and saving digital dollars.
XPL has a total fixed supply of 10 billion tokens. Of this, 40% (4 billion tokens) is allocated for ecosystem and growth initiatives, with 8% (800 million tokens) unlocked at launch to support initial liquidity and partnerships.
The remaining 3.2 billion ecosystem tokens will unlock gradually over the next three years.
25% of the supply (2.5 billion tokens) is reserved for founders, developers, and employees, subject to a one-year cliff and two years of linear vesting. Another 25% (2.5 billion tokens) is allocated to early backers and strategic partners under the same vesting terms.
Validator rewards follow an inflationary model, starting at a 5% annual rate and gradually decreasing each year until stabilizing at 3%.
XPL is positioned as a key utility token for the Plasma ecosystem, mirroring the role of ETH ETH $3 609 24h volatility: 6.6% Market cap: $435.54 B Vol. 24h: $30.10 B on Ethereum and SOL SOL $167.0 24h volatility: 6.2% Market cap: $92.44 B Vol. 24h: $5.26 B on Solana
While the XPL price surged to $1.54 in debut, it has now crashed nearly 50% and is currently trading at $0.75, amid the broader market sell-off.
Layer-2 Bitcoin project Bitcoin Hyper (HYPER) has generated strong interest in its ongoing presale, raising $18.17 million so far. The project is offering staking rewards of up to 65% APY, positioning itself as one of the most attractive crypto presales of 2025 for investors seeking high-yield opportunities.
HYPER tokens can be purchased using ETH, BNB, USDT, or a credit card directly on the official Bitcoin Hyper website.
The current presale price is $0.012975 and is set to increase within the next 24 hours. For more details, make sure you check out our official guide on how to buy Bitcoin Hyper.
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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.