XPL Surges Over 13% to $1.54 Following Mainnet Launch and Whale Purchases

XPL surged over 13% to $1.54 after its mainnet launch, driven by strong market activity and whale purchases. The Plasma network, backed by investors like Bitfinex and Framework Ventures, has seen significant anonymous whale activity and a $3.4 billion TVL increase. The decentralized finance sector is taking notice, with potential implications for ETH and USDT stability.

The XPL token has experienced a significant surge in value following the launch of the Plasma mainnet. The token, which powers the high-performance layer-1 blockchain, climbed 52% in a single day, reaching $1.26 from $0.83 Plasma Mainnet Launch Sends XPL Token Soaring 52%^[1]. This rapid increase in price reflects strong market interest and investor confidence in the Plasma network.

The mainnet launch has been supported by major industry players, including Binance and Tether. Binance has listed Plasma USDT through Aave’s lending system, providing over 280 million users with access to yield opportunities powered by Plasma. Tether has integrated its USDT0 and XAUT0 stablecoins on the Plasma blockchain, making it the leading blockchain for the circulation of Tether Plasma Mainnet Launch Sends XPL Token Soaring 52%^[1].

The integration of Chainlink’s reliable data infrastructure has also contributed to Plasma’s rise. Chainlink’s CCIP, Data Streams, and Data Feeds are now fully compatible with Plasma, providing accurate data for XPL pricing across more than 40 connected blockchains. This integration ensures that decentralized applications (dApps) on the Plasma network can function smoothly with up-to-date pricing and data Plasma Mainnet Launch Sends XPL Token Soaring 52%^[1].

The XPL token’s price surge is indicative of strong market demand and investor optimism. The launch of Plasma’s mainnet has sparked widespread interest, particularly in the decentralized finance (DeFi) sector. With increasing adoption and backing from major platforms, Plasma’s future in the crypto space looks promising Plasma Mainnet Launch Sends XPL Token Soaring 52%^[1].

Meanwhile, Gate, a crypto exchange, has launched Gate Layer, a new Layer 2 network, and upgraded its GT tokenomics. The network is designed for speed and cost efficiency, and the GT token will be the exclusive gas token powering the full open ecosystem. Gate has also introduced staking and a dual deflationary model to enhance stability and reward network participants Gate Launches Layer 2 Network and Upgrades GT Tokenomics^[2].

The launch of Gate Layer follows a broader industry trend of exchanges creating dedicated Layer 2 networks to capture more activity within their own platforms. This development has implications for the stability of ETH and USDT, as it indicates a shift in how the crypto market operates Gate Launches Layer 2 Network and Upgrades GT Tokenomics^[2].

In conclusion, the XPL token’s surge and the launch of Plasma mainnet demonstrate the growing interest and investment in high-performance layer-1 blockchains. The integration of major platforms and reliable data infrastructure further positions Plasma for long-term growth. Similarly, Gate’s new Layer 2 network and tokenomics upgrade highlight the industry’s focus on efficiency, stability, and user engagement.