@Plasma Fast growth shows clear results when systems work well. By late November 2025, @Plasma ranked just below Ethereum on Aave, taking the number two spot overall. This standing reflects real use, not just numbers on paper. Around eight percent of global Aave borrow volume now runs through Plasma, an impressive share for such a new player. Structure matters more than time when building functional networks.
Here's what grabs attention: Plasma runs lean with money. In the group of Aave markets worth over a billion, it uses 42.5% of its funds - meaning cash isn’t just parked. Instead, $1.58B is out in loans right now. That makes Plasma almost double the next big player. Even stacked against many Layer 2s and rival blockchains together, few match up.
What shapes things? Market setup does. In plasma, some items can be borrowed - think USD₮0, USDe, WETH. Others only serve as backing: sUSDe, weETH, Pendle PTs, XAUt0. Yield comes from many places because of this split. Credit wakes up right where it counts.
What you see comes from actual use, tied to $XPL L's role and boosted by Plasma’s backbone. Instead of simply holding funds, the network puts them to work in smart ways. This setup is shaping up as a key piece in DeFi’s coming chapter.