Plasma (XPL), the native token of the Plasma Layer-1 blockchain built for stablecoin payments (like zero-fee USDT transfers), recently surged 16.5% to $0.0939 amid broader market pressure.
This move came on strong **$7.29M in taker buying** (aggressive purchases) and **$3.69M net inflow**, showing fresh capital entering despite extreme fear in the crypto market—Fear & Greed Index at 8/100 (extreme fear territory, often signaling oversold conditions).
While the overall market sentiment remains deeply pessimistic, with Bitcoin and many alts under pressure, XPL's resilience highlights potential rotation into altcoins and speculative interest in its stablecoin-focused utility (high TPS, low fees, EVM compatibility).
This aggressive buying and inflow pattern, defying the fear, could indicate a short-term bottom or capitulation phase, where contrarian accumulation occurs before broader recovery. However, volatility remains high—watch for sustained volume and resistance breaks around recent highs (~$0.096) to confirm momentum.