OKX has announced the launch of pre-market trading for XPL, which represents a Layer 1 blockchain for stablecoins. This launch is expected to have significant implications for the cryptocurrency market.
Launch of Pre-Market Trading for XPL
On August 28, 2025, at 7:00 PM (UTC+8), pre-market trading for the XPL token, the native token of Plasma, will commence. This initiative is aligned with the development of a Layer 1 blockchain aimed at stablecoin activities, focusing on performance, scalability, and security.
Impact of XPL Token on the Market and Regulatory Strategy
The pre-market trading may substantially alter the landscape of stablecoins, offering gasless and fee-free transactions. This could attract users from Ethereum and Tron. Interest in the XPL token sale has already reached $1 billion, double the initial target of $500 million.
Future Prospects and Potential Market Changes
According to CoinMarketCap, the current price of Plasma is $0.52 with a fully diluted market cap of $5.17 billion. Despite an 80.96% drop in daily trading volume, the token has shown significant growth of 214.01% over a week, indicating investor confidence. However, a 12-month lock-up period is planned for U.S. investors.
The launch of pre-market trading for the XPL token by OKX could bring about substantial changes in the realm of stablecoins and impact major cryptocurrencies like Ethereum and Tron.
