Plasma closed the year with real momentum. Distribution expanded fast, with USDT now supported on 30+ exchanges and daily CEX transactions growing from ~5k to ~40k. Unique wallets jumped from ~3k to ~30k, showing real usage, not just liquidity parking. Stablecoin supply held strong at ~$2.1B, DeFi TVL at ~$5.3B, even after incentives were cut by over 95%. That’s organic growth.
On the product side, Plasma One quietly went live internally. Over 30 users across 15 countries are already using it daily, processing ~100 transactions and ~$10k in spend. This phase is about stress-testing real behavior: onboarding, payments, reliability, and edge cases. It’s how Plasma ensures the product works in the real world before scaling it publicly.
Distribution kept expanding through serious integrations. Stripe’s Bridge, ZeroHash, Shift4, Kraken, Hadron by Tether, and many others now connect into Plasma. With Shift4 alone touching 200k+ merchants globally, this creates real paths for stablecoins to be used, not just held. Plasma now has USDT coverage comparable to chains that have existed for multiple cycles, with some of the lowest fees in the market.
On the infrastructure side, December focused on hardening the chain. Dynamic validator support, better testing, stronger networking, and geographically distributed validators all went live. This is the kind of work that doesn’t trend on social media but determines whether a chain can support institutions at scale.
Ecosystem growth is also accelerating. Axis and Daylight are nearing public launch, backed by major funds, and more native teams are preparing to go live. At the same time, Plasma continues expanding its payments and compliance stack to support real-world usage, not just crypto-native activity.
The big picture is clear: Plasma is building the rails first, then scaling usage on top. Plasma One is the proving ground. Distribution is expanding. The chain is stabilizing. And XPL is being positioned at the center of the ecosystem with clear long-term alignment.
December wasn’t about noise.
It was about building something that lasts.
