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XPL Experiences Growth Through DeFi Partnerships, Yet Faces Potential Dilution Threats in 2026

XPL Experiences Growth Through DeFi Partnerships, Yet Faces Potential Dilution Threats in 2026

Bitget-RWA2025/09/28 01:08
By:Coin World

- XPL, Plasma's token, hit $1.679 on Sept 27, up 33.7% in 24 hours after mainnet launch boosted TVL to $2.39B. - EVM integration and DeFi partnerships (Aave, Chainlink) drove adoption, with 24-hour trading volume surging 355,000% to $6.77B. - Whale activity and zero-fee USD₮ transfers attracted institutional buyers, but 2026 token unlocks pose dilution risks to $15.3B FDV. - Analysts project $1.50–$5 price range by 2026, though liquidity sustainability and competition remain key challenges for market conso

XPL Experiences Growth Through DeFi Partnerships, Yet Faces Potential Dilution Threats in 2026 image 0

XPL, the primary token for the

blockchain, reached a record high of $1.679 on September 27, representing a 33.7% jump in just 24 hours [1]. This surge came after Plasma’s mainnet went live on September 25, which led to a notable increase in total value locked (TVL) to $2.39 billion and boosted trading activity. The token’s price showed significant volatility, initially dropping to $1.35 before quickly rebounding to $1.42 on the day of the mainnet launch. By September 27, was trading at $1.648, maintaining upward momentum despite fluctuations during the day [6].

This rally was fueled by key advancements, such as Plasma’s integration with the

Machine (EVM) and collaborations with DeFi projects including and . These improvements boosted the network’s scalability and established it as a contender in the stablecoin sector, with backing from major exchanges like Binance and OKX. The token’s market cap climbed to $2.75 billion, and its fully diluted valuation (FDV) hit $15.3 billion [6]. Large holders also influenced the market; one whale invested 33 million to acquire 24.295 million XPL, then opened a short position of 1.54 million XPL with 2x leverage, likely as a hedge against price swings [7].

XPL’s trading volume soared to $6.77 billion within 24 hours—a staggering 355,000% increase—highlighting robust interest from both institutions and individual traders [4]. With 1.8 billion tokens in circulation (18% of the total supply) and another 25% set to unlock in July 2026, supply risks remain. Analysts pointed out that while the rally shows faith in Plasma’s stablecoin capabilities and EVM support, future token releases could put downward pressure on prices after 2026 [3].

Forecasts for XPL’s price are mixed. In the near term, the token is expected to stabilize between $1.50 and $2.00, with some optimistic projections reaching $3–$5 by mid-2026 [1]. Longer-range predictions from suggest an average value of $4.26 in 2026 and $9.12 by 2030, assuming continued adoption and regulatory progress [5]. However, these are based on analyst models and are not guaranteed outcomes.

The market remains split. While XPL’s zero-fee USD₮ transfers and strategic partnerships have attracted institutional investors, there are ongoing concerns about liquidity and competition from established blockchains. The recent price spike has also raised questions about speculative trading, with platforms warning of the dangers of high leverage and volatility [4]. Despite these issues, XPL’s current position as the 43rd largest crypto on CoinMarketCap and its $2.46 billion market cap reflect its growing prominence in the digital asset space [1].

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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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