XPL Coin, the asset of the Plasma network, is showing significant growth in the pre-market, generating interest in the cryptocurrency space.
The Reasons Behind XPL Coin's Growth
XPL Coin began trading on the Binance and Hyperliquid platforms ahead of its official launch. Trading is recorded at around $0.45, with a fully diluted capitalization of $4.5 billion. The growth momentum followed a public sale in July 2025, where 10% of its total supply of 1 billion was sold at $0.05, raising $373 million in just 10 days. Current valuations reflect a tenfold increase, highlighting enthusiastic early backing.
Binance's Strategies and Their Impact on XPL
Binance has launched pre-market order books for XPL, while Hyperliquid offers a 3x leveraged XPL-USD contract. Hyperliquid employs a model based on the average market price, reducing manipulation issues typical in pre-listing futures. Data from Hyperliquid shows trading volumes near $49 million and open interest at $33 million. Analyst Ignas noted a roughly tenfold premium in XPL's trading, with long positions facing an annualized funding rate of about 1200%.
The Future Potential of XPL Coin
Future prospects for XPL Coin appear promising, with initial strategies showing considerable success and investor confidence remaining strong. The move towards independent Layer-1 functionality further emphasizes the coin's innovative approach in the cryptocurrency landscape.
The success of XPL Coin in the pre-market indicates a growing interest and potential innovativeness of the Plasma network, underscoring its capacity to transform the cryptocurrency industry.
