@Plasma #Plasma $XPL Plasma (XPL) emerged in 2025 as a specialized Layer 1 blockchain, often called a "stablechain," built specifically to optimize stablecoin transactions. Backed by industry giants like Bitfinex, Tether, and Peter Thiel’s Founders Fund, Plasma seeks to solve high fee and scalability issues for USDT and other stablecoins.

A Record-Breaking Launch
In June 2025, Plasma made headlines with its XPL token sale, which raised $500 million in just 40 minutes. Over 1,100 wallets participated in the sale, which was hosted on Echo's Sonar platform. The sale represented 10% of the total 10 billion XPL supply, implying a $500 million fully diluted valuation (FDV). Due to immense demand, the project, which aims for zero-fee USDT transfers, saw its vault deposits, which briefly reached $1 billion, and was hailed as a significant, albeit sometimes controversial, milestone in crypto fundraising.