XPL rallies to $0.84 ahead of Plasma public beta launch
The post XPL rallies to $0.84 ahead of Plasma public beta launch appeared on BitcoinEthereumNews.com.
Plasma’s mainnet beta launch sparked a pre-market rally for XPL tokens. The asset expanded to $0.84 about an hour ahead of the official launch. XPL tokens, the native assets of the Plasma network, were expected to enter price discovery on September 25. The date was set for the official launch of the Plasma mainnet beta, expecting the first blocks to start from 12:00 GMT. As Cryptopolitan reported this week, the Tether-backed chain announced its launch ahead of time, potentially allowing the event to boost the token hype. Plasma rallied just ahead of the public beta launch, expecting a valuation of over $1B upon launch, with an almost immediate Binance listing. | Source: CoinMarketCap. Minutes before the network’s launch, XPL had a pre-market rally. XPL bounced from its previous range of $0.78 to $0.84, expecting additional volumes. Ahead of the launch, Lbank volumes dwindled to zero, but the token shifted to BingX, with $1.7M in daily volumes. Price discovery for XPL is closely watched, as the token went through a cycle of price volatility. Whales on Hyperliquid caused massive short liquidations, sparking suspicions of market manipulation. XPL may remain risky and volatile in the days after its official launch. Plasma to launch with $2B stablecoin supply Plasma is a high-profile project, deciding on a long run-up to its mainnet launch. The chain expects to start with $2B in stablecoin liquidity from its very first day of operation. Plasma will also launch with immediate access to 280M Binance users, immediately activating Plasma-based USDT. In a market that is saturated with chains, Plasma has recognized the importance of guaranteed liquidity to attract users. Plasma mainnet beta will go live with $2B+ in liquidity, making us the 8th largest chain by stablecoin supply. The future is bright, on Plasma. pic.twitter.com/KPALwq1AJq — Plasma (@PlasmaFDN) September…
