In brief
- •Plasma exceeds 5.5 billion TVL from its first public launch week.
- •Trillions, a memecoin launched on Plasma, briefly reaches 60 million capitalization.
- •The XPL token soars thanks to a massive airdrop and express listings.
- •Memecoin activity strongly boosts XPL demand for paying network fees.
Plasma, a stablecoin network turned into a magnet for memecoins
Originally, Plasma was supposed to be just an optimized blockchain for stablecoins, like USDT transfers without fees. Yet, barely launched in beta version late September, the network turned into a real magnet for memecoins. Thanks to its EVM compatibility and a free environment, anyone can deploy their token.
Result? An explosion of coins like Trillions, which briefly reached 60 million dollars capitalization, or even Luna and Bankless.
The story of Trillions, notably, embodies this phenomenon. Inspired by a meme on the “future capitalization in trillions of stablecoins,” this token was born on Plasma at the same time as the enthusiasm for the XPL airdrop. A few days later, the frenzy took hold: traders, influencers, and bots jumped on these assets. Yet, the Plasma project remains silent, refusing to officially endorse memecoins.
This gap between community use and official roadmap makes Plasma unique today.
A buzzing crypto ecosystem around XPL
The arrival of the XPL token was anything but discreet. Generous airdrops, immediate listings on Bybit, KuCoin, or OKX, and especially trading incentives worth 9 million units. In less than a week, XPL reached a capitalization of 2.5 billion dollars. And that’s not all: the TVL exceeded 5.5 billion dollars, positioning Plasma as the fifth largest stablecoin network according to DeFiLlama.
The factors behind this success add up: compatibility with Ethereum, fast user experience, low selling pressure (only 18% of the supply is unlocked), and above all an effective storytelling. Viral posts, references to Tether and Peter Thiel, everything is gathered to charm the crypto sphere. Influencers were not mistaken, massively relaying price movements.
This self-sustaining dynamic, fueled by intense speculative demand, recalls the best days of the Solana hype. Plasma now embodies the idea of a solid altcoin… until proven otherwise.
Memecoins, new engine of the Plasma ecosystem
The most surprising? It may be that memecoins actively participate in the growth of the Plasma network. By fueling speculation, they force traders to use XPL, which supports demand. Moreover, the combined effect of airdrops and speculative frenzy attracts a very active user base.
DyorSwap, a multi-chain launch platform, is today the main stage for this activity.
Some coins show gains of 400 to 700% in a few days. Volumes on DEX explode, liquidity flows fast, and tokens multiply. But this boom is as fragile as it is electric: a simple trend reversal can flip everything.
Key figures to know
- •Plasma surpassed 5.5 billion TVL in less than a week;
- •The memecoin Trillions reached 60 million capitalization before falling back to 18 million;
- •Only 1.8 billion XPL in circulation, or 18% of total supply;
- •XPL recorded more than 3 billion volume on its first listing day.
In the crypto universe, memecoins retain undeniable attraction power. Even on Plasma, originally designed for stablecoins, they find fertile ground. The hype is cyclical: it rises fast, sometimes drops brutally… but always comes back. Proof is, Google searches for these tokens are rising again, confirming investors’ lasting interest.