Plasma’s mainnet launch, supported by Tether, has garnered significant attention in the market. Following the launch, the price of XPL coin experienced a remarkable surge, rising by 52% to reach $1.28 within 24 hours. According to CoinMarketCap data, the altcoin‘s market capitalization soared to $2.28 million, while its trading volume skyrocketed by over 370,000% in the last day.
Positive Developments Drive XPL Coin’s Rise
With the activation of the Plasma mainnet, Binance included Plasma in its list of Earn products, opening it up for trading in USDT pairs. This listing provided more than 280 million Binance users with access to yield opportunities within the Plasma ecosystem. The broadening global reach of the network significantly boosted demand for XPL coin and contributed to an increase in its price.
Another pivotal move that bolstered the Plasma ecosystem and the altcoin’s rise was its integration with Aave. This allowed users to conduct credit and borrowing operations based on USDT, facilitating the project’s rapid adoption in the DeFi space.
Chainlink 
$9 announced that it aligned CCIP, Data Streams, and price feeds with Plasma. They also provided a separate price feed for XPL/USD, ensuring secure data flow across different Blockchains. This integration enhanced XPL’s visibility and usability in the DeFi market.
Additionally, Tether revealed that it activated its USDT0 and XAUT0 assets on Plasma. The support from this stablecoin giant positioned Plasma as one of the leading Blockchain networks in terms of USDT0 circulation supply.
XPL Coin Price Soars
Amidst these positive developments, the price of XPL coin soared from $0.83 to $1.43 in a short span, attracting significant investor interest. The rise was bolstered by high trading volumes, ensuing considerable demand during the ecosystem’s initial days.
Collaborations with Binance, Aave, and Chainlink, along with Tether’s backing, have strengthened Plasma’s infrastructure. Consequently, the ecosystem has become a widely applicable structure for stablecoin and tokenized asset operations.
