Despite a strong start with a $500 million token sale oversubscribed by investors, Plasma has faced challenges including a significant price drop of approximately 90% for the $XPL token and lower than expected on-chain activity. The network supports around 3.6 transactions per second currently, which is far below its touted 1,000 TPS potential. The project is committed to stablecoin settlement and developing products like yield-bearing wallets, but it is still building meaningful on-chain utility.@Plasma #Plasma $XPL