Plasma's XPL Token Drops 6.96% Amid Binance Airdrop Resumption

Plasma's latest price was $1.18, down 6.957% in the last 24 hours. The Plasma (XPL) token airdrop resumed on Binance's platform, with distribution starting at 19:45 (UTC+8) on September 25, 2025. This initiative by Binance highlights its commitment to expanding its cryptocurrency offerings. Eligible participants include BNB holders, with distributions reflecting holdings in Binance's Simple Earn program. The broader implications include the addition of new trading pairs, including XPL/USDT and XPL/BNB. This impacts liquidity as Binance reopens spot trading for XPL. Spot trading for XPL began at 13:00 UTC, linked to several key stablecoins like USDT and USDC, enhancing market engagement.

Plasma (XPL)—a Layer-1, EVM-compatible chain for high-volume, low-cost stablecoin payments—joins HODLer Airdrops. Trading opened on September 25 at 13:00 UTC with spot pairs XPL/USDT, XPL/USDC, XPL/BNB, XPL/FDUSD, XPL/TRY. Retroactive rewards go to BNB holders in Simple Earn/On-Chain Yields during the eligibility window.

Plasma operates as a stablecoin-focused blockchain platform backed by high-profile investors, including Bitfinex, Framework Ventures, Peter Thiel’s Founders Fund, and Tether CEO Paolo Ardoino. The project raised $500 million through its token offering in June, attracting over 2,900 wallets with deposits totaling $1 billion during its initial funding phases. It also partnered with EtherFi for a $500 million integration of the liquid staking protocol Ethereum vault. The network enables zero-fee USDT transfers, supports confidential payments, and provides EVM compatibility for Ethereum-style smart contracts.

Plasma’s total value locked reached $3.4 billion within 24 hours of launch, according to DefiLlama data. The rapid TVL accumulation reflects the high yields offered on the network to attract initial liquidity and establish a user base. DEX volume on Plasma crossed $226 million on September 26, while the stablecoin market cap on the network climbed to nearly $4 billion. One example of early traction is Aave’s deployment on the Plasma network. According to Blockworks data analyst Jack Mandin, Aave generated $57,000 in interest within 24 hours on the network, outpacing the protocol’s performance on Scroll and Gnosis over a two-week period. The lending protocol also produced $6,000 in reserve revenue on day one, exceeding what many smaller Aave deployments achieve across weeks or months. These fundamental metrics likely contributed to XPL’s price recovery as traders recognized the network’s early adoption and liquidity attraction capabilities. The strong rebound, which comes amid a week where the crypto market shed 9% in value, indicates XPL’s strength among crypto investors. Yet, it remains to be seen if the token can maintain its momentum over the following days.

Stablecoin L1 blockchain Plasma absorbed over $4 billion in cryptocurrencies within 24 hours of its launch, ranking eighth in blockchain DeFi deposit value. This achievement was mainly due to the Plasma lending treasury and users locking assets in collaborating DeFi protocols to earn the network's native token, XPL. Plasma's initial success has driven up the price of the XPL token by 30% from its opening price, reaching around $1.2 currently. This corresponds to a fully diluted valuation of nearly $12 billion, a 24x increase from the $50 million valuation at the public sale in June. For investors who participated in the Plasma seed round on the early investment platform Echo in November last year, this implies a staggering return of up to 324x.

The launch of the Plasma mainnet has driven a sharp rise in the price of the XPL token. In just one day, the token surged by 52%, climbing from $0.83 to $1.26. The sudden price jump shows strong market interest and increased investor confidence. One of the key drivers behind this surge is the support from major platforms like Binance. The world’s largest crypto exchange listed Plasma USDT through Aave’s lending system. This addition allows over 280 million Binance users to access yield opportunities powered by Plasma. The wide user base on Binance gives Plasma instant exposure and increases its adoption potential. In addition to Binance, Tether has also integrated its USDT0 and XAUT0 stablecoins on Plasma blockchain. This makes Plasma the leading blockchain for the circulation of Tether, which is crucial for DeFi and stablecoin transactions. The backing from these major industry players boosts the credibility of Plasma and further strengthens its position in the crypto market. Another key factor contributing to Plasma’s rise is its integration with Chainlink. Chainlink’s CCIP, Data Streams, and Data Feeds are now fully compatible with Plasma. This provides reliable and accurate data for XPL pricing across more than 40 connected blockchains. Developers can use this infrastructure to build more secure and efficient decentralized applications (dApps) on the Plasma network. The Chainlink data standard now supports XPL, the native token for the newly launched high-performance layer-1 blockchain, @PlasmaFDN. Start integrating the XPL/USD Data Stream to build highly secure, efficient DeFi markets for Plasma’s token across 40+ chains. With Chainlink secure oracles and real-time data, Plasma is becoming a stronger foundation for decentralized finance (DeFi). This integration ensures that dApps can function smoothly with up-to-date pricing and data. It also offers a reliable source of liquidity, which is essential for the growth of the ecosystem. As more developers adopt this setup, Plasma’s ecosystem will continue to expand. The 52% price surge of XPL reflects strong market demand and investor optimism. The launch of Plasma’s mainnet has sparked widespread interest, particularly in DeFi and stablecoin applications. The integration with key players like Binance, Aave, and Chainlink further positions Plasma for long-term growth. As Plasma ecosystem develops, XPL could become a prominent player in the DeFi space. The token’s price growth shows that investors are betting on Plasma’s potential to become a key infrastructure layer for tokenized assets. With increasing adoption and backing from major platforms, Plasma’s future in the crypto space looks promising.

The Plasma blockchain project achieved a major milestone with the launch of its mainnet on September 25, 2025, marking its transition to a fully operational platform. This stablecoin-focused Layer 1 blockchain, supported by entities like Bitfinex, attracted substantial decentralized finance (DeFi) activity immediately after going live, ranking among the top players in the DeFi space for deposit value within a day.

Integrations with key industry players have been central to Plasma's ecosystem development. The platform partnered with Tether to mint stablecoins such as USDT0 and XAUT0 tokens directly on its chain, enhancing native support for stable assets. Simultaneously, collaborations were secured with Binance, Aave, and Chainlink, providing infrastructure for yield generation and data services. For instance, Binance listed Plasma USDT through its Earn platform, leveraging Aave's capabilities to offer yield-earning opportunities to users. Chainlink integrations included the deployment of data feeds, Data Streams, and the Cross-Chain Interoperability Protocol (CCIP), strengthening Plasma's technical foundation.

Adoption and community engagement saw notable momentum, driven by initiatives like the partnership with Bybit. Starting September 29, 2025, and running through October 29, 2025, Bybit users can participate in an exclusive staking pool by making net deposits via the Plasma network. This move aims to broaden user access and foster ecosystem growth, alongside other integrations that simplify cross-chain functionalities and incentivize participation.

Looking ahead, Plasma's trajectory focuses on sustaining its rapid adoption through further ecosystem expansions and risk management strategies. The project emphasizes utility-building, such as enabling stablecoin transactions and supporting decentralized applications, which could influence its stability and long-term relevance in the market despite regulatory considerations for stablecoin networks.