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

Bitcoin Updates: Navigating Crypto’s Fine Line—ETF Inflows and Federal Reserve Decisions Shape Upcoming Trends

- Bitcoin and altcoins face a fragile balance between ETF inflows/outflows and Fed policy uncertainty, with BTC trading above $87,000 amid mixed technical indicators. - Ethereum ETFs saw $79M inflows while Bitcoin ETFs lost $151M, highlighting institutional demand volatility as macroeconomic risks persist ahead of the Fed's December decision. - Technical analysis shows Bitcoin below key EMAs with RSI near oversold levels, while Ethereum's death cross pattern and XRP's constrained momentum signal bearish pr

Bitget-RWA2025/11/29 02:12

Bitcoin News Update: Bulls and Bears Face Off in a High-Stakes Technical Battle in the Crypto Market

- Bitcoin and major altcoins test critical technical levels as year-end approaches, with mixed signals from institutional activity and derivatives positioning. - Key resistance levels ($89,000 for BTC, $3,000 for ETH) remain contested, with breakdown risks threatening $80,600 and $2,400 support zones. - ETF inflows ($128M for BTC, $79M for ETH) contrast with macroeconomic headwinds, including Fed policy uncertainty and regulatory risks for XRP . - Derivatives data shows bullish positioning (3.14% XRP open

Bitget-RWA2025/11/29 02:12
Bitcoin News Update: Bulls and Bears Face Off in a High-Stakes Technical Battle in the Crypto Market

ZEC Experiences Rapid Price Increase: Unveiling the Driving Force of the Cryptocurrency Surge

- Zcash's $9.24B market cap surge by late 2025 stems from strategic upgrades, institutional adoption, and robust on-chain activity. - Institutional investors like Reliance Global Group and proposed ETFs signal growing acceptance of Zcash's hybrid privacy-transparency model. - Network metrics show 1,300% transaction volume spikes, $47.5M fee revenue, and 23% shielded supply, reflecting privacy demand amid compliance needs. - Sustainability concerns arise over ETF centralization risks, speculative FOMO-drive

Bitget-RWA2025/11/29 02:08
ZEC Experiences Rapid Price Increase: Unveiling the Driving Force of the Cryptocurrency Surge

The Endurance of Entrepreneurs and Its Impact on Sustained Value Generation

- Founder resilience drives long-term value in undervalued sectors through strategic patience and unconventional leadership. - Chung Ju-yung's Hyundai built South Korea's infrastructure and automotive industry by rejecting hierarchies and embracing competition. - Bill Walsh's 49ers demonstrated disciplined execution and undervalued talent identification, mirroring investment principles in volatile markets. - Modern cases like Kodak's pharmaceutical pivot and Promescent's stigma-breaking strategy show resil

Bitget-RWA2025/11/29 02:08
The Endurance of Entrepreneurs and Its Impact on Sustained Value Generation