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Why is Plasma (XPL) Price Up 30% Today?

Why is Plasma (XPL) Price Up 30% Today?

CoinspeakerCoinspeaker2025/09/25 16:00
By:By Ibrahim Ajibade Editor Marco T. Lanz

Plasma, Bitfinex-backed Layer 1 blockchain, achieves remarkable $3.14 billion TVL within 24 hours of launch on Sept 25. The explosive adoption drove XPL token price up 35% following strategic exchange listings.

Key Notes

  • Bitfinex-backed Plasma blockchain becomes eighth-largest within one day, securing $3.14 billion in deposits.
  • XPL token price jumped 35% to $1.43 peak with $2.5 billion market cap on launch day trading.
  • Bybit exchange partnership offers zero-fee USDT transfers and 9 million XPL rewards program for early adopters.

Plasma is a new Layer 1 blockchain backed by Bitfinex, a sister company of the stablecoin giant Tether. It aims to deliver low-cost, high-speed transfers, particularly for Tether’s USDT, to provide competition to rivals like Circle’s Arc Blockchain and Stripe’s Tempo .

Plasma (XPL) @PlasmaFDN is now live on #Binance Spot.

We’re celebrating with 3 special promotions → 12,500,000 XPL in token vouchers up for grabs. Plus, a bonus reward for top traders.

Don’t miss out 👉

— Binance (@binance) September 25, 2025

Following a timely listing on Binance and a critical partnership with hardware crypto-wallet provider Backpack , Plasma has attracted more than $3 billion in Total Value Locked (TVL) deposits within 24 hours of its launch on Sept. 25.

Why is Plasma (XPL) Price Up 30% Today? image 0

Plasma Total Value Locked hit $3.14 billion within 24 hours post-launch | Source: DeFiLlama, Sept. 26.

According to DeFiLlama data , the blockchain has also taken in $125,000 in fees from $117 million on-chain transaction volumes.

Why is Plasma (XPL) Price Up Today?

Plasma’s explosive on-chain adoption makes it the eighth-largest blockchain within 24 hours post-launch. The instant impact also reflects in its native XPL token price action.

As seen in the CoinMarketCap chart below, XPL price rallied 35% on Friday, trading as high as $1.43, with a peak market cap of $2.5 billion and daily volume exceeding $5 billion. An imminent XPL community campaign cited in its latest partnership announcement with Bybit could potentially intensify the market frenzy.

Why is Plasma (XPL) Price Up 30% Today? image 1

Plasma (XPL) Price Action | Source: CoinMarketCap

On Thursday, Bybit, the world’s second-largest exchange by trading volume, confirmed it will list XPL and enable Tether USDT $1.00 24h volatility: 0.0% Market cap: $174.29 B Vol. 24h: $83.92 B deposits and withdrawals through Plasma with zero transfer fees.

For the first time, the world’s largest crypto exchange brings crypto’s largest lending protocol into its Earn suite, powered by Plasma.

280M+ Binance users can now earn with Plasma USD₮ via Aave’s lending rails, with more incentives ahead.

The future is bright, on Plasma.

— Plasma (@Plasma) September 25, 2025

Bybit is also rolling out a community campaign to incentivize early XPL adoption. According to the press release, the “XPL Tokensplash” rewards program allocates 9 million XPL tokens to users through deposit, trading, and staking activities.

New participants can earn up to 300 XPL each, while existing users qualify for prize pools by trading or depositing USDT via Plasma.

Beyond the rewards program, Bybit also offers Plasma users zero-fee USDT withdrawals, staking yield up to 100% APR for new users and a separate $100,000 USDT lucky draw for depositors, creating additional incentives for onboarding.

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Why is Plasma (XPL) Price Up 30% Today? image 2

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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