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XPL

Momentum Shift Amid Plasma (XPL) Integration

by admin October 3, 2025

The native token of oracle network Chainlink LINK$22.62 pulled back slightly on Friday, establishing a higher low, posting a 6.7% gain this week. The price action has been supported by a string of news headlines about institutions and protocols tapping Chainlink’s services.

Plasma (XPL) said on Friday it has joined Chainlink Scale, adopting Chainlink’s oracle services for its stablecoin payments-focused blockchain. The network has integrated Chainlink’s Cross-chain Interoperability Protocol (CCIP), Data Streams and Data Feeds services, supporting developers to build stablecoin use cases on Plasma.

“By adopting the Chainlink standard and joining the Chainlink Scale program, Plasma is demonstrating how new layer-1 networks can launch with enterprise-grade stablecoin infrastructure from day one,” said Johann Eid, chief business officer at Chainlink Labs, the development organization behind Chainlink.

The news follows Swiss bank UBS starting a pilot with Chainlink earlier this week, integrating the CCIP protocol with SWIFT’s messaging system for tokenized fund operations.

Meanwhile, the Chainlink Reserve, a facility that purchases tokens on the open market using income from protocol integrations and services, bought another 46,441 LINK on Thursday, bringing total holdings over 417,000 tokens, worth $9.5 million.

Technical indicators signal bullish momentum is returning for LINK, establishing a clear higher low but facing resistance at the $23 level, CoinDesk Data’s research model suggested.

LINK changed hands within a $0.96 range between $22.13 and $23.09, representing a 4.27% fluctuation during the 24-hour period.
Established critical support at $22.13 with substantial buying interest at an elevated volume of 1,409,489 units, above the daily average of 1,178,000.
The token carved out a clear higher low pattern, suggesting renewed upward momentum towards the $23.10 resistance zone.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.

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October 3, 2025 0 comments

Crypto Trends

Plasma Confirms XPL Lock, Denies Wintermute Link

by admin October 2, 2025

Plasma Labs issued a statement to counter speculation after its native XPL token faced heavy selling pressure in recent days. On Thursday, October 2, 2025, the company clarified that no team members or investors have sold tokens. Instead, all XPL allocations remain locked for three years with a one-year cliff. The firm also denied any ties with Wintermute, a leading market maker, stressing it has never contracted with them.

We’ve seen a number of rumors circulating since the launch of XPL and want to set the record straight.

1/ No team members have sold any XPL. All investor and team XPL is locked for 3 years with a 1 year cliff.

2/ Of our team of ~50, three spent time at Blur or Blast. Our team…

— Paul (@pauliepunt) October 1, 2025

The statement came after rumors linked Plasma’s core team to prior ventures and questioned token distribution. “No team members have sold any XPL. All investors and team XPL is locked for 3 years with a 1-year cliff,” said Paul, a Plasma co-founder. He further clarified that while some employees previously worked at Blur and Blast, others hail from Google, Facebook, Goldman Sachs, and Temasek.

Market Action and Chart Signals

XPL has experienced sharp volatility, with its price down more than 40% since its peak. Analyst Luke Martin noted on X that the $0.85 level is now crucial. The TradingView chart show the price moving down in a steady pattern, making lower highs and lower lows. But at $0.85, buyers stepped in strongly, pushing the price back up. This bounce hinted that people see value at that level and are willing to defend it.

This is the first $XPL setup since the selloff started that looks appealing for a bounce.

Combined with the team announcing they sold 0 tokens and not working with winternuke.

Would not be surprised to see this trading above $1.2 soon.

Second target: trillions pic.twitter.com/7TilTfsmIT

— Luke Martin (@VentureCoinist) October 1, 2025

Moreover, historical levels remain important. Resistance lies around $1.01, which must be reclaimed to shift momentum. Until then, the market could remain range-bound. “This is the first $XPL setup since the selloff started that looks appealing for a bounce,” Martin stated. He added that the team’s assurance of zero token sales strengthens sentiment.

Machi Big Brother’s $11M Loss

Celebrity trader Jeffrey “Machi Big Brother” Huang has taken heavy losses on Hyperliquid. Just two weeks ago, his 5x leveraged XPL long position showed $44 million in profit.

Today, according to Hyperdash data, it sits at an unrealized $10.9 million loss, with liquidation looming at $0.4555. Besides this, Huang holds a 15x Ether long worth $1.2 million, which carries more than $500,000 in unrealized profit.

XPL faces a decisive moment at the $0.85 level. Plasma’s clarity on token locks could restore trust, but volatility remains a major risk.

Also Read: Bitcoin Miners Hit $56B Market Cap Despite Falling Margins

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October 2, 2025 0 comments

GameFi Guides

Coinbase Lists Ripple Rival XPL and 3 New Cryptocurrencies as Uptober Begins

by admin October 1, 2025

As the crypto ecosystem kicks into what is considered the “Uptober” season, leading U.S.-based cryptocurrency exchange Coinbase has announced four major listings in a recent X post.

In its relentless efforts to expand its wide range of trading options for users, the exchange has not only continued to strengthen its spot market but is also boosting its derivatives market.

Coinbase boosts derivatives options for users

Following its latest listings, the exchange revealed it has launched perpetual futures trading for four new cryptocurrencies: Lombard ($BARD), Anoma ($XAN), Plasma ($XPL), and Kamino Finance ($KMNO).

The exchange specified that the new perpetual contracts (listed as BARD-PERP, XAN-PERP, XPL-PERP, and KMNO-PERP), will go live on Thursday, October 2. Notably, the listing event will commence on or after 9:30 a.m. UTC in supported regions. However, Coinbase emphasized that the listings will not go live at the stated time if the projects fail to meet its liquidity conditions.

While the move expands Coinbase’s derivatives offerings for both retail and large token holders, the exchange noted that only retail traders in select jurisdictions will be able to access the perpetual markets via Coinbase Advanced.

Meanwhile, institutional investors will have the opportunity to trade directly through the Coinbase International Exchange, propelling the newly listed tokens toward higher volume demand.

Following the inclusion of BARD, XAN, XPL, and KMNO on Coinbase’s derivatives market, the exchange has not only positioned itself for a boost in trading volume but also enhanced adoption prospects for the tokens, potentially setting them up for significant price upswings.

While the timing of the listing coincides with the beginning of “Uptober” (a hype tag associated with October given its historical bullish records), users have shown excitement for the newly added options. Commentators believe the move will fuel more price surges for the tokens, aligning with bullish expectations for the month.

Amid heightened anticipation for renewed momentum across the broader crypto market, market watchers appear to be keeping a close eye on how the new crypto listings on Coinbase will perform upon their official launch.

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October 1, 2025 0 comments

GameFi Guides

XPL, Not XRP: Why Are Whales Shoveling Ripple’s Rival?

by admin October 1, 2025

XPL’s market path
Whales are not enough?

An unknown whale is taking risks on the cryptocurrency market — but not with XRP. Instead, whales’ attention is focused on Plasma, a layer-1 blockchain designed for stablecoin payments worldwide. After depositing 31.52 million USDC into Hyperliquid just 10 hours ago, the whale has since bought 29.27 million XPL, which is approximately $31.13 million.

XPL’s market path

With strong liquidity and high trading volumes, XPL has recently risen on the charts, and this sudden accumulation is igniting speculation about it. CoinMarketCap reports that XPL is trading at $0.94, down 18% for the day, but it has a huge 24-hour volume of $2.49 billion or nearly 147% of its $1.69 billion market cap. XPL is establishing itself as a direct competitor on the payments market, in contrast to XRP, which has been having trouble with resistance levels and low volume.

Source: CoinMarketCap

Plasma aims to create the foundation of a stablecoin-powered financial system by offering customizable gas tokens and zero-fee USDT transfers. Because of this positioning even in the face of price volatility, wealthy investors are placing significant bets on its long-term prospects. The whale’s repeated behaviors imply that it is confident in accumulation at the present rate. Historically, insider confidence in impending developments or longer adoption cycles have frequently preceded such concentrated buying.

Whales are not enough?

But traders need to prepare for more volatility given the token’s recent sharp swings, which include an all-time high of $1.68 just three days ago and today’s retracement. This movement presents an indirect challenge to XRP. Although XPL’s whale-driven surge indicates investor interest in alternative payment-layer solutions, Ripple is still firmly established in traditional financial corridors.

The long-standing dominance of XRP in cross-border settlements may be seriously challenged if Plasma manages to draw in this kind of funding. In summary, it is important to keep a close eye on the shift, where whales are investing in XPL rather than XRP. The sudden whale accumulation and stablecoin-first infrastructure of Plasma could signal the beginning of a larger struggle for relevance in blockchain-based payments.

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October 1, 2025 0 comments

NFT Gaming

ASTER VS HYPERLIQUID, XPL BULL & BEAR CASE, DAT TRADE IN TROUBLE

by admin September 30, 2025

ASTER VS HYPERLIQUID, XPL BULL & BEAR CASE, DAT TRADE IN TROUBLE

Bitcoin strength continues, altcoins mixed. Various l1 etfs may be approved very soon. Sec-cftc turf war is over: pham. Sec willing to engage with token issuers: pierce. Senate committee to meet to examine crypto taxes. Wisconsin may open up licenses to crypto firms. Strategy buys $22m btc, bitmine buys $963m eth. Ibit becomes top btc options venue. Sec pauses trading of the dat qmmm. Ny crypto regulator harris steps down. Binance launches ‘crypto-as-a-service’ solution. Cronje’s flying tulip raises $200m at $1b valuation. Falconx rolls out 24×7 crypto options trading. Republic plans to tokenise animoca’s equity on sol. Kazakhstan launches crypto reserve. Bitcoin may join central bank reserves by 2030: db.

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September 30, 2025 0 comments

Crypto Trends

Stablecoin-Focused Plasma’s XPL Token Debuts With $2.4B Market Cap

by admin September 25, 2025

The stablecoin-focused Plasma blockchain’s native token, XPL, debuted on major exchanges, including Binance and OKX, on Thursday.

The token drew a price of up to $1.54 in early trading, resulting in a market capitalization of over $2.8 billion. The plasma token has a genesis supply of 10 billion, of which 18% or 1.8 billion is now in circulation.

The Plasma network also debuted with over $2 billion in stablecoin total value locked and an EVM-compatible design.

Use case

XPR serves as the gas token for transactions and smart contract execution, as well as the staking asset that secures the network, and finally, as the reward token for validators.

Plasma allows gasless transfer of stablecoins for end-users. In other words, it allows zero-fee transfers only for simple USDT sends and receives.

However, more complex transactions, such as deploying contracts or decentralized applications, require XPL to be paid as gas, or a portion of stablecoins to be converted to XPL as fees, according to Delphi Digital’s explainer.

Early this week, Plasma launched Plasma One, a stablecoin-native neobank with the aim of providing users with permissionless access to spending, earning, and saving digital dollars.

Tokenomics

XPL is the native token of the Plasma blockchain, analogous to ETH on Ethereum and SOL on Solana. XPL serves as the gas token for transactions & smart contract execution, the staking asset securing the network, and the reward token for validators.

The XPL token has a fixed total supply of 10 billion tokens. Of this, 40%—equaling 4 billion tokens—is allocated for ecosystem and growth initiatives. At launch, 8% of the total supply (800 million tokens) will be unlocked from this ecosystem allocation to support initial activities such as liquidity provision and partnerships.

The remaining 3.2 billion ecosystem tokens will be gradually unlocked monthly over a three-year period to ensure steady liquidity and ongoing development.

Furthermore, 25% of the supply (2.5 billion tokens) is allocated to founders, developers, and employees, who face a one-year cliff preceding vesting, followed by linear vesting over the next two years. Another 25% (2.5 billion tokens) have been allocated to early backers and strategic partners, with the same vesting terms as the team: a one-year cliff followed by two years of linear vesting.

The token follows an inflationary model, with Validator rewards initially starting at a 5% inflation rate, which will decrease each year until it stabilizes at 3%.

Read more: Peter Thiel-Backed Plasma Unveils ‘HotStuff-Inspired Consensus’ For High-Frequency Global Stablecoin Transfers

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September 25, 2025 0 comments