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Plasma (XPL) Rises 16% to $0.83, FDV Hits $8.3 Billion

Plasma (XPL) Rises 16% to $0.83, FDV Hits $8.3 Billion

Plasma’s L1 stablecoin blockchain achieved $4 billion in assets within 24 hours, while its XPL token surged 30%, reaching a $12 billion FDV, marking significant growth from its June valuation.

Summary

Plasma’s L1 stablecoin blockchain absorbed $4 billion in crypto assets in 24 hours, ranking eighth in DeFi TVL. The XPL token rose by 30% to $1.2, with a fully diluted valuation of $12 billion, up 24x from its June public sale valuation of $50 million. Early investors have seen returns as high as 324x.

Terms & Concepts
  • L1 Stablecoin Blockchain: A Layer 1 blockchain built specifically for stablecoin operations, typically used for fast, scalable transactions with stable value.
  • DeFi TVL: Total Value Locked (TVL) in Decentralized Finance (DeFi) platforms, representing the sum of all assets held in DeFi protocols.