What to know:

  • The Plasma blockchain's native token, XPL, launched on major exchanges like Binance and OKX, with a market cap of $2.4 billion.

  • XPL functions as a gas token, staking asset, and reward token, with a total supply of 10 billion tokens.

  • Plasma introduced Plasma One, a stablecoin-native neobank, to offer users permissionless access to digital dollar transactions.

The stablecoin-focused Plasma blockchain's native token, XPL, debuted on major exchanges, including Binance and OKX, on Thursday.

The token drew a price of up to $1.54 in early trading, resulting in a market capitalization of over $2.8 billion. The plasma token has a genesis supply of 10 billion, of which 18% or 1.8 billion is now in circulation.

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