XPL Coin, the asset tied to the Plasma mainnet, has yet to launch but is already making headlines in the crypto market with its pre-market trading.
XPL Coin's Advantages Before Launch
The asset is trading at around $0.45, resulting in a fully diluted valuation of $4.5 billion. In the public sale completed in July 2025, 10% of the total supply of 1 billion tokens was sold for $0.05, raising $373 million in just 10 days.
Trading Volume Surge and Leverage Impact
Binance opened pre-market order books for XPL, while Hyperliquid launched the XPL-USD contract with up to 3x leverage for long and short positions. Hyperliquid data showed a trading volume of approximately $49 million and an open interest of $33 million. DeFi analyst Ignas noted that XPL is trading at roughly a tenfold premium based on public sale valuation.
Binance's Support and Demand for the Altcoin
Binance is backing the altcoin's pre-market valuation through projects like the 'Plasma USDT Locked Product', which quickly filled its initial quota of 250 million USDT. The total limit was raised to 1 billion USDT, with the second quota exhausted in three minutes.
Currently, XPL Coin shows significant investor interest and proactive actions from trading platforms, indicating its potential impact on the crypto market after the official launch.
