$XPL refers to the governance token of Plasma, a Bitcoin Layer 2 blockchain developed with backing from Tether for stablecoin payments and EVM compatibility. Plasma's mainnet launched on September 25, 2025, with $2 billion in initial TVL and zero-fee USDT transfers, following rapid fundraising including a $500 million ICO and Binance staking events . Articles on $XPL often begin with titles like "Textbook-level manipulation of $XPL pre-contract prices" or "Plasma (XPL) Mainnet Launch," highlighting its hype, price surges (e.g., 14.6x from ICO at $0.05 to $0.73 debut), and later controversies such as alleged manipulation or token dumps .Key EventsPlasma raised funds quickly, with public sales oversubscribed in minutes and Binance listings driving early liquidity. Backers include Founders Fund and Tether CEO Paolo Ardoino, positioning it for stablecoin scalability . Trading debuted amid high volumes, but prices faced volatility, dropping significantly by early 2026 amid hype backlash Token DetailsTotal supply supports broad distribution: 25% to investors, with airdrops like Binance's 75 million XPL to HODLers. FDV hit $7.7 billion at launch, with predictions of $1+ prices due to strong tokenomics . Recent articles note price recovery above $1 but warn of risks like FUD over team sales

#xplachain #Plasma