XPL (Plasma) has fallen 17.89% in the last 24 hours.

Gate News Bot news, on September 30, according to CoinMarketCap, as of the time of writing, XPL (Plasma) is currently priced at 1.22 USD, having fallen by 17.89% in the last 24 hours, reaching a high of 1.68 USD and a low of 0.69 USD, with a 24-hour volume of 2.372 billion USD. The current market capitalization is approximately 2.2 billion USD, a decrease of 479 million USD from yesterday. Currently, XPL ranks 50th in global crypto assets market capitalization.

Plasma is a high-performance layer one blockchain designed specifically for stablecoins. It aims to provide stablecoin infrastructure for a new global financial system, supporting near-instant, fee-free payments, with institutional-grade security. Plasma can process over 1000 transactions per second, with a block time of less than 1 second. The platform has received support from well-known institutions such as Bitfinex and Founders Fund.

Important news about XPL recently:

1️⃣ Rapid Expansion of the Plasma Ecosystem The total locked value of the Plasma network DeFi has surpassed 4.9 billion USD, ranking eighth in the blockchain DeFi deposit value, overtaking the Base network, with a TVL of (. Aave's total deposits on the Plasma chain reached 6.5 billion USD, with a daily increment of over 1.5 billion USD. This reflects a high level of user participation and confidence in the Plasma ecosystem, providing strong value support for the XPL token.

2️⃣ Institutional investors are actively positioning Multiple large addresses and well-known investors have been frequently trading XPL. A certain whale address has accumulated a profit of 80.15 million USD in the past month, while several other addresses have collectively purchased over 22 million USD worth of XPL tokens. The active participation of institutional investors may further drive the market demand and price performance of XPL.

3️⃣ SushiSwap Integration with Plasma Chain SushiSwap has announced that it has integrated with the Plasma chain, which will bring more liquidity and trading opportunities to the Plasma ecosystem. As a well-known decentralized exchange, SushiSwap's addition is expected to attract more users and developers to the Plasma network, promoting further development of the ecosystem.

From a technical perspective, the XPL price has experienced a significant pullback after a rapid rise in the previous period, with a 24-hour fall of 17.89%. This may be a normal market fluctuation caused by short-term profit-taking. However, considering the ongoing expansion and functional improvement of the Plasma ecosystem, as well as the active participation of institutional investors, XPL is still expected to gain long-term value support. Investors should closely monitor the further development of the Plasma network and its competitive landscape in the DeFi field.

This message does not constitute investment advice; investors should be aware of market volatility risks.