The Plasma XPL token has gained significant attention in the market due to its oversubscribed sale and developments in the cryptocurrency industry. Let's explore the main aspects of this project.
Reasons for Plasma's Popularity
Plasma attracted attention due to strong institutional backing from Tether and Peter Thiel, creating a high level of trust for the project. Plasma quickly raised $24 million in initial funding rounds, achieving a $500 million valuation thanks to Founders Fund and support from Bitfinex, which invested $3.5 million to expand USDT usage within the Bitcoin ecosystem. Plasma is not an ordinary blockchain network but a stablecoin infrastructure that maintains high security using Bitcoin's mainnet.
XPL Token Distribution
The total supply of XPL tokens is 10 billion, with the following distribution: • Public Sale (10%): 1 billion tokens at $0.05 each. • Ecosystem and Growth (40%): 4 billion tokens with 8% for immediate DeFi incentives. • Team (25%): 2.5 billion tokens unlocking one year post-launch. • Investors (25%): 2.5 billion tokens following the same schedule. This distribution design implies reduced near-term selling pressure.
Market Outlook for XPL
With XPL's price fluctuating between $0.50 and $0.80, Plasma's market cap sits between $5 billion and $8 billion. If the project continues to maintain high interest, reaching $1 per token could be a realistic target, especially with backing from investors like Tether and Peter Thiel.
Plasma has gained significant attention due to its institutional financing and unique product vision. Given the sustained interest in stablecoins and market support, the project has all chances for successful development.
