KEY NUMBERS —$XPL : $567M TVL, $1.76B Unlock Sep 25
$567.2M USD TVL, current — Plasma DeFi liquidity (vs +7.60% 7d, as of Sep 13'26)
$1.073B USD stablecoin mcap, current — stablecoin liquidity (vs +19.17% 7d, as of Sep 13'26)
$1.76B XPL, Sep 25'26 — scheduled unlock (vs 17.6% of total supply, as of Sep 13'26)
$145.26M USD, Sep 25'26 — approximate unlock value (vs 63.2% of released-supply value, as of Sep 12'26)
2.778B XPL, current — circulating supply (vs 10.00B total supply, as of Sep 12'26)
27.78% XPL, current — supply unlocked (vs 72.22% still locked, as of Sep 12'26)
$227.23M USD, current — XPL market cap (vs $829.4M FDV, as of Sep 13'26)
$46.28M USD, 24h — XPL trading volume (vs $40.29M prior DefiLlama snapshot, as of Sep 13'26)
$0.07977 USD/XPL, current — supplied Bybit price (vs -2.79% 24h, as of Sep 13'26)
$1.59M USD, 24h — supplied Bybit turnover (vs $0.08461 high and $0.07844 low, as of Sep 13'26)$XPL

1.12M XPL, 4h — current candle volume (vs 2.87M XPL MA5, as of Sep 13'26)
0.08196 USD/XPL, 4h — MA7 level (vs 0.08333 MA14 and 0.08830 MA28, as of Sep 13'26)
0.10114 USD/XPL, 4h — chart-period high (vs $0.07977 current price, as of Sep 13'26)
$138,213.59 USD, 24h — Plasma fees paid (vs $5.78M 24h DEX volume, as of Sep 13'26)
$269 USD, 24h — Plasma chain fees (vs $269 chain revenue, as of Sep 13'26)
$1.073B USD, current — stablecoin market cap (vs $567.2M DeFi TVL, as of Sep 13'26)

READ — Plasma has $567.2M of DeFi TVL and $1.073B of stablecoin market cap, while XPL remains below both its 4h MA7 and MA14 after the latest decline. The key supply variable is the Sep 25'26 unlock: 1.76B XPL is scheduled for release, compared with 2.778B XPL currently circulating. Circle also launched native USDC and EURC on Plasma on Aug 28'26, adding regulated stablecoin rails alongside the existing stablecoin liquidity base.
$LSK

OPEN QUESTION — Can Plasma’s $1.073B stablecoin base keep expanding ahead of the Sep 25'26 XPL unlock?

DYOR — Recheck the latest,#news