XPL is the native token of the Plasma blockchain, which is a Layer 1 chain focused on stablecoin payments, backed by Tether, and primarily featuring the USDT0 ecosystem. After launching its mainnet last September, it quickly attracted capital, with TVL once exceeding $5.5 billion. Currently, Plasma supports over 25 stablecoins, with TPS exceeding 1000 and block time under 1 second, making it suitable for cross-border payments and DeFi, with significant recent advancements. The withdrawal fee is extremely low, only 0.0001 XPL.
On January 23, Plasma integrated the NEAR Intents protocol, which has processed $10 billion in transactions, allowing USDT0 and XPL to flow across over 25 chains, enhancing the efficiency of large settlements. Currently, Plasma's sUSDe TVL has surpassed Ethereum, reaching $744 million.
In terms of compliance, obtained the VASP license, opened an office in Amsterdam, targeting the EU stablecoin market. On the community side, USDT0 settlement speed is twice that of ETH, Plasma has become the fourth largest USDT holding network, with deposits exceeding 7 billion dollars, and XPL has also been listed on Robinhood US.
Tether has recently been accumulating gold, definitely making a good profit in this wave of precious metal market, and its beloved XPL is sure to see good development. Competitor Stable's token reached ATH, but Plasma's stablecoin market value reached 1.8 billion dollars, far exceeding Stable's 29 million, with TVL remaining solid around 1.8 billion, thus being clearly undervalued.
Recently, the price has been falling, currently reported at 0.1045 dollars, affected by the overall market. In the market, the total market value of stablecoins is nearly 316 billion dollars, Plasma fills the gap in high-frequency payments, and zero fees are super friendly to merchants.
The analysis result indicates that positions can be built gradually, and my current cost is at 0.11U.