Plasma News Today: XPL Gains 15% as Founder Denies Sales, Liquidity Concerns Linger

Plasma's native token, XPL, rebounded 15% following founder Paul Faecks' denial of allegations that team members sold tokens or collaborated with market maker Wintermute. The price surge, which lifted XPL from $0.88 to $1.01 within hours, marked a partial recovery after the token had plummeted nearly 46% in the days prior. Despite the rebound, the token closed at $0.93, reflecting a 5.6% gain since the founder's statementtitle1^[1]. Faecks emphasized that all team and investor tokens are locked for three years with a one-year cliff, countering rumors of early sales. He also clarified that only three of the team's 50 members had prior experience at projects like Blast or Blur, while others hailed from firms such as Google, Goldman Sachs, and Temasektitle2^[2].

Skepticism persists among investors, particularly regarding the fate of ecosystem and growth allocations. On-chain data revealed that 85% of the top 20 XPL traders exited their positions within the first week of the token's launch, with liquidity concentrated on centralized exchanges like Binance. Analysts noted that the token's liquidity ratio of 0.09% lagged behind industry norms, raising concerns about market depth and centralization riskstitle3^[3]. Critics also highlighted the lack of transparency around token movements from the Plasma Team Vault, which transferred 600 million XPL to exchanges in late September. While Faecks denied any relationship with Wintermute, independent sleuths suggested the firm's wallets received significant token inflows, fueling speculation about coordinated distribution strategiestitle4^[4].

Despite the controversy, Plasma's user base continues to grow. Data from Dune Analytics showed the network attracting approximately 5,000 new users daily, with 1.4 million transactions processed in a 12-hour period post-launch. The platform's focus on stablecoin payments-powered by Tether and Bitfinex-has drawn partnerships with over 50 DeFi protocols, including Aave and Curve. Binance's inclusion of XPL in its HODLer Airdrops program further amplified adoption, distributing 75 million tokens to eligible BNB holderstitle5^[5].

The token's performance has sparked comparisons to Tron (TRX), a dominant player in USDT transfers. Plasma's zero-fee transactions and specialized infrastructure for stablecoins position it as a potential competitor, though TRX remains resilient above $0.30. Analysts at Delphi Digital noted that Plasma's ability to capture Tether flows could disrupt Tron's market share, particularly in cross-border payments. However, Justin Sun's silence on the matter suggests the Tron team is monitoring the situation closelytitle6^[6].

Looking ahead, the token's trajectory will depend on resolving lingering doubts about token distribution and liquidity. While Faecks' team insists on a focus on development, analysts caution that ecosystem token sales-unlocked in phases from 2026 to 2028-could reintroduce volatility. Treeverse's CEO remains optimistic, likening Plasma's potential to Tron's rise in the stablecoin era. For now, XPL's price action and adoption metrics suggest a mixed outlook, with growing user activity offset by ongoing skepticism about market integritytitle7^[7].