The project launched its Mainnet Beta network, integrating stablecoins (especially USDT) in a fee-free manner during the first phase.
At launch, a massive amount of liquidity was pumped into the project, with the total value locked (TVL) exceeding two billion dollars.
Rewards were distributed to previous participants in the project, with some receiving free tokens even if they did not purchase, as part of the incentive mechanisms.
XPL has been listed on the Binance platform and added to the rewards page of the 'HODLer Airdrop' for BNB holders to receive XPL rewards.
The project is currently facing severe price fluctuations:
• A drop of more than 50% over the week due to profit-taking by some investors.
• Single-day declines reached about 14% as well.Despite this, there is a slight recovery: the price recently rose by about 13% after a correction phase.
From a technical and analytical perspective:
• Technical indicators like the RSI indicate that the currency has entered oversold territory, which may support a potential rebound.
• There are concerns that many tokens will be unlockable in the future (Lock-ups) for project players or participants in the United States, which could lead to future selling pressure.Some analyses suggest that XPL may have the potential to be a competitor or alternative to systems like TRON in the stablecoin space.
Share your opinion, could XPL be a strong competitor?