Markets

A meme coin deployed on the Plasma stablecoin network peaked at a $60 million market capitalization on Sunday. It follows Plasma hitting “mainnet beta” last week, attracting $5.5 billion in total value locked, and its XPL token soaring to a $2.3 billion market cap. The Trillions token is based on a meme at the core of the Plasma thesis, with the project referencing it as early as December 2024. However, it wasn’t until February 2025 that the meme took off both internally and externally, a Plasma...

DeFi

Ascending decentralized exchange Aster has refunded users who lost funds due to “abnormal price movements” on the recently debuted XPL token on Thursday. The BNB Chain-based exchange has exploded in growth over the past week, but this marks its first notable slip-up. After a couple of compensation rounds, Aster says users have been fully refunded in the USDT stablecoin. Any affected users who haven’t been refunded should reach out to the exchange via Discord. XPL, which is the native staking tok...

Markets

Stablecoin blockchain Plasma launched its mainnet in beta on Thursday, with its native XPL token going live alongside it.  Investors who bought into Plasma’s massive initial coin offering, or ICO, earlier this year are up massively. And Plasma confirmed to Decrypt that every single participant in Plasma’s pre-deposit ICO scheme has been sent $8,390 worth of XPL—even if they didn’t actually buy tokens via the ICO. Plasma’s XPL token peaked at $1.54 a piece shortly after its debut before dropping...

DeFi

Plasma is preparing to launch its own neobank, Plasma One, sometime after its stablecoin blockchain hits mainnet later this month. Its card claims it will offer 4% cash back on spending, an over 10% yield on balances, and international coverage. Users of Plasma One will be able to load their card with the stablecoins of their choice—starting with USDT and slowly expanding—and then pay directly from this balance via the physical or virtual card. The prepaid credit card is set to use the Plasma bl...

Coins

Binance is set to move its USDT yield product on-chain once the stablecoin network Plasma hits mainnet, which is targeted for September. On top of Binance’s usual yield, users can lock up funds before Plasma’s mainnet in exchange for a cut of its soon-to-launch XPL token. In less than an hour, the $250 million deposit cap was reached on Binance. The limit may be raised, a Plasma representative told Decrypt, but the final decision remains with Binance.  Paul Faecks, the founder and CEO of Plasma,...

Coins

Bitcoin-based stablecoin blockchain Plasma has set the date for its much-anticipated XPL initial coin offering, or token sale, for July 17, keeping the project on track for its predicted mainnet launch by “late summer.” Following the sale, Plasma will gear up for its mainnet launch, which the firm told Decrypt will feature several unreleased stablecoins. The token sale comes following the Bitcoin sidechain attracting $1 billion worth of deposits, upsized from $500 million. Those who deposited to...

Coins

Plasma is gearing up to launch its stablecoin-optimized blockchain on mainnet by “late summer,” the company’s CEO told Decrypt. Paul Faecks, founder and CEO of Plasma, said that the blockchain will support “the largest stablecoins,” at launch based on its internal data. “We are building a blockchain that is the best product for moving stablecoins from A to B,” Faecks added. "Everything around it has to be in service of being that. Otherwise, it's not worth doing for us.” At least 40 days before...