Plasma
XPL Metrics
Spot Volume (24H)
$62.35M+53.12%
Marketcap
$349M
FDV
$733M
Mindshare
Very Low
Metrics (24H)
1 Notable Posts
Circ. Supply
4.8B
Sentiment
24H
7D
Max Supply
-
Mcap/FDV
47.61%
Total Supply
10.0B
Sector Ranking
#17
Futures Volume
$287M
Open Interest
$114M
Volatility (30D)
69.33%
About & Links
About & Links
Plasma is a payment network enabling zero-fee USD₮ transactions on the Bitcoin blockchain. It offers scalable, high-throughput execution with over 1,000 transactions per second while maintaining Bitcoin's security. Plasma supports developers by providing EVM compatibility, modular contract execution, and a hybrid UTXO/Account architecture for staking and deploying Bitcoin.
Sector Rank
#17, n/a
Sub-Sector Rank
n/a, #3
Contracts
API ID
XPL Performance
All Time High
$1.68-95.57%
Sep 28, 2025
Cycle Low
$0.0606+22.73%
Jun 10, 2026
Trending
XPL Metrics
Spot Volume (24H)
$62.35M+53.12%
Marketcap
$349M
Mindshare
Very Low
Sentiment Chg
24H
7D
Last Updated: Oct-29-2026 10:40 UTC
Plasma Project Update
Currently Interesting
Definitive, a trading platform, went live on Plasma on October 29, 2025, with no trading fees applied for trades executed on Plasma through Definitive during an initial week-long period 1. This integration matters because it adds a live trading venue to Plasma's ecosystem, giving users a way to execute trades directly on the network while the fee waiver is designed to attract early activity and liquidity. Definitive is a platform that enables on-chain trading, and its deployment expands the range of applications available to Plasma users beyond lending and bridging. The move could lead to increased transaction volume and user adoption on Plasma as traders take advantage of the temporary zero-fee window. If the launch generates sustained activity, it may encourage other trading and DeFi applications to deploy on Plasma, further building out the network's application layer.
Get Caught Up
Aave and Plasma's Global Credit Layer
Following Plasma's mainnet launch, deposits into Aave on Plasma rapidly peaked at $6.6 billion in total value locked (TVL), with early efficiency yielding $160 in TVL for every $1 in incentives 2. The deployment saw $1.58 billion in total borrowing with high utilization rates (WETH at 84.9%, USD₮0 at 84.1%), and as of November 26, 2025, Plasma became the world's second-largest Aave market globally 2. This matters because it demonstrates strong demand for on-chain credit infrastructure on Plasma and positions the network as a significant venue for stablecoin-based lending.
GHO Deployment on Plasma
The Aave community passed Proposal 391 to deploy GHO, Aave's native stablecoin, on the Plasma blockchain, including configuring Chainlink CCIP lanes between Plasma and other chains where GHO is live 3. The proposal established new contracts on Plasma, including GhoToken, GhoTokenPool, GhoBucketSteward, and GhoCcipSteward, with a rate limit of 1.5 million GHO and 300 GHO per second 3. This matters because it brings a native stablecoin to Plasma and enables cross-chain transfers, deepening the network's stablecoin ecosystem.
Biconomy Infrastructure Integration
The Biconomy team announced an infrastructure integration for Plasma developers, providing access to Biconomy's orchestration stack powered by Supertransactions 4. The upgrade allows developers to compose and execute multi-step workflows under a single signature, using modular smart accounts with session keys, passkeys, and recovery mechanisms, while supporting gasless transactions and ERC-20 gas payments 4. This matters because it improves the developer experience on Plasma and enables applications that retain capital on the network while accessing external liquidity when needed.
Biggest Stories of 2025
-
Definitive Deployment on Plasma: Definitive went live on Plasma with no trading fees for an initial week-long period, adding a live trading venue to the network's ecosystem. (October 29, 2025) 1
-
GHO Plasma Launch (Proposal 391): The Aave community passed a proposal to deploy GHO on Plasma, establishing new contracts and configuring Chainlink CCIP lanes between Plasma and other chains. (October 14, 2025) 3
-
Pendle Deployment on Plasma: Pendle went live on Plasma with five markets deployed and $900,000 of XPL issued as weekly incentives, boosting yield opportunities for users. (October 2, 2025) 5
-
Pyth Deployment on Plasma Live: Pyth went live on Plasma, providing builders with price feeds including XPL, stablecoins such as USDT, USDe, and GHO, and RWA price feeds from Centrifuge. (September 29, 2025) 6
-
Across Deployment on Plasma: Across Protocol's bridge went live on Plasma, allowing users to move USDT and other stablecoins between Plasma and other networks. (September 25, 2025) 9
-
LayerZero Plasma Integration: LayerZero added support for Plasma, with Stargate serving as the official bridge for mainnet launch. (September 25, 2025) 12
-
Euler Deployment on Plasma: Euler Labs announced the deployment of Euler on Plasma, expanding the network's lending infrastructure. (September 25, 2025) 13
-
Plasma Mainnet Beta Announcement: The Plasma team announced that mainnet beta and XPL would go live on September 25, 2025, with plans to bridge vault deposits and enable zero-fee USDT transfers. (September 19, 2025) 7
-
Plasma Testnet Launch: The Plasma team announced that the testnet was live, featuring PlasmaBFT (an implementation of Fast HotStuff consensus) and an EVM execution layer built as a modular Reth-based client written in Rust. (July 16, 2025) 14
-
Plasma x Ethena Partnership: Ethena Labs and the Plasma Foundation announced an ecosystem partnership, with Ethena's USDe available on Plasma's mainnet beta on day one. (April 15, 2025) 15
About & Links
About & Links
Plasma is a payment network enabling zero-fee USD₮ transactions on the Bitcoin blockchain. It offers scalable, high-throughput execution with over 1,000 transactions per second while maintaining Bitcoin's security. Plasma supports developers by providing EVM compatibility, modular contract execution, and a hybrid UTXO/Account architecture for staking and deploying Bitcoin.
Sector Rank
#17, n/a
Sub-Sector Rank
n/a, #3
Contracts
API ID
Access funding rounds, raises, and more