Plasma chain use the Liquidity of the Bitcoin and programmablity of the Ethereum chain but it's not means its Layer 2 chain depending on these L1 chain. It has it's own security consensus called PlasmaBFT that makes plasma Layer 1 Blockchain. It is EVM compatible and uses Reth as its execution layer. RETH means Rust Ethereum it is like a brain thay peocess the transaction and andsmart contracts. Reth is cost effective and transaction fees is almost zero near to zero.
As we know Ethereum cycle is just starting and surely XPL will move with it. At currwnt price of 0.093$ is very much discounted price to start accumulating XPL coin as your longterm holdings. Once Ethereum season officially started the stablecoin payment adoption of the plasma chain will be on peak with XPL sky-rocket to 2,3$ in next cycle.