Plasma (XPL) Price Rises 35% After Binance Listing and Bybit Partnership
Plasma Blockchain Launch
- Plasma, a new Layer 1 blockchain backed by Bitfinex and Tether, launched on September 25.
- Aims to offer low-cost, high-speed transfers, particularly for USDT.
- Competes with Circle's and Stripe's blockchain solutions.
- Listed on Binance, Plasma attracted over $3 billion in Total Value Locked (TVL) within 24 hours.
- Generated $125,000 in fees from $117 million in on-chain transaction volumes.
Plasma (XPL) Token Performance
- XPL token price increased by 35%, reaching $1.43 with a market cap of $2.5 billion.
- Trading volume exceeded $5 billion following its launch.
Partnerships and Incentives
- Bybit announced it will list XPL and enable zero-fee USDT transfers through Plasma.
- Bybit launches "XPL Tokensplash" rewards program with 9 million XPL tokens for users engaging in deposit, trading, and staking activities.
- Offers include zero-fee USDT withdrawals and up to 100% APR yield for new users.
Market Impact
- Plasma's rapid adoption and price rally have drawn attention to other projects like Maxi Doge.
- Maxi Doge presale raised over $2.5 million, nearing its $2.8 million target.
