Keynote
- The Bitfinex-backed plasma blockchain will become the eighth largest within a day, securing a deposit of $3.14 billion.
- The XPL token price increased 35% to a peak of $1.43, earning a market capitalization of $2.5 billion in launch day trading.
- Bibit Exchange Partnership offers Zero Fee USDT Transfer and 9 Million XPL Rewards Program for early adopters.
Plasma is a new layer 1 blockchain backed by Bitfinex, a sister company to Stablecoin Giant Tether. It aims to provide low-cost high-speed transfers, especially for tether USDT, to provide competition with rivals such as the circle’s arc blockchain and striped tempo.
Plasma (XPL) @plasmafdn Currently live #binance spot.
We celebrate with 3 special promotions → 12,500,000 XPL. Plus, bonus rewards for top traders.
Don’t miss it 👉 pic.twitter.com/dc3xy70pgz
– Binance (@binance) September 25, 2025
Following a timely list on Binance and a key partnership with the Hardware CryptoWallet Provider Backpack, Plasma attracted over $3 billion in total price lock (TVL) deposits within 24 hours of its launch on September 25th.
Plasma total value reaches $3.14 billion within 24 hours locked locked | Source: Defilama, September 26th.
Blockchain also receives $125,000 in fees from $117 million in chain trading volume, according to Defillama data.
Why is Plasma (XPL) increasing prices today?
Plasma’s explosive on-chain adoption will make it the eighth largest blockchain within 24 hours of launch. The instant effect is also reflected in the native XPL token price action.
As can be seen on the Coinmarketcap chart below, XPL prices won 35% on Friday, reaching $1.43, with a market capitalization of $2.5 billion and a daily volume of over $5 billion. The imminent XPL community campaign cited in the announcement of its latest partnership with BYBit could potentially bolster the market frenzy.
Plasma (XPL) Price Action | Source: CoinMarketCap
On Thursday, BYBit, the world’s second largest exchange by trading volumes, confirmed it would list XPL to enable tethers
USDT
$1.00
24-hour volatility:
0.0%
Market Cap:
$173.54 b
Vol. 24H:
$134.07 b
Deposits and withdrawals through plasma with zero transfer fees.
The world’s largest crypto exchange is for the first time bringing Crypto’s biggest lending protocol to its plasma-powered acquisition suite.
280m+ Binance users can now earn using Plasma USD via Aave’s lending rails.
With plasma, the future is bright. pic.twitter.com/qyov1dxxfq
– Plasma (@plasma) September 25, 2025
Bybit is also running a community campaign to encourage early adoption of XPL. According to a press release, the “XPL Tokensplash” Rewards program allocates 9 million XPL tokens to users through deposits, trading and staking activities.
While new participants can earn up to 300 XPL each, existing users can qualify for the prize pool by trading or depositing USDT via plasma.
Beyond the reward program, BYBIT offers zero FEE USDT withdrawals for plasma users, earning up to 100% APR for new users, earning $100,000 ISDT lucky draws for depositors, creating additional incentives for onboarding.
Maxi Doge advance sales gain momentum as traders seek high-risk play beyond BNB
Plasma’s 35% price rally in its first day trading has sparked interest in other early stage projects like Maxi Doge (Maxidoge), offering great profit opportunities through high leverage strategies.
Maxi Doge Presale
The Maxi Doge Presale currently costs $0.000259, and it has already raised more than $2.5 million of its $2.8 million target. With only a few hours left before the next price tier, future investors can join through the official Maxi Doge Presale website.
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Disclaimer: Coinspeaker is committed to providing fair and transparent reporting. This article is intended to provide accurate and timely information, but should not be considered financial or investment advice. Market conditions can change quickly, so we recommend that you review your information yourself and consult with an expert before making a decision based on this content.
Ibrahim Ajibade is a veteran research analyst with a background in supporting a variety of Web3 startups and financial organizations. He holds a bachelor’s degree in economics and currently holds a master’s degree in blockchain and distributes ledger technology at the University of Malta.
Ibrahim Ajibade on LinkedIn