- •Token assurance: CEO Paul Faecks dismissed insider sale rumors and confirmed that all team and investor XPL tokens remain locked for three years with a one-year cliff to prevent early liquidations.
- •Market rebound: Following his clarifications, XPL jumped nearly 15% before stabilizing at a 5.6% gain, showing how leadership communication directly influenced investor confidence despite lingering transparency concerns.
- •Adoption growth: Plasma has processed over 2 million transactions and attracts 5,000 new users daily, with analysts comparing its trajectory to Tron’s stablecoin-focused expansion.
Plasma’s native token XPL rebounded after CEO Paul Faecks directly addressed community concerns over alleged insider sales and team affiliations. His clarifications and strong adoption metrics helped stabilize sentiment following weeks of volatility. While skepticism persists, the project’s growth trajectory suggests resilience in the face of controversy.
FOUNDER DENIES TOKEN SALE ALLEGATIONS
Paul Faecks firmly rejected claims that Plasma insiders had sold tokens. He confirmed that all team and investor holdings are locked for three years with a one-year cliff, preventing any premature liquidations. This assurance came after speculation tied Plasma to controversial projects and alleged undisclosed sales. Faecks emphasized that the project’s focus remains on building a stablecoin-focused Layer-1 blockchain, not on short-term token speculation.
TEAM COMPOSITION AND MARKET MAKER RUMORS
The CEO also countered narratives portraying Plasma as an “ex-Blast” project. Out of approximately 50 team members, only three previously worked at Blur or Blast. The broader team includes professionals from Google, Facebook, Square, Temasek, Goldman Sachs, and Nuvei, underscoring its diverse expertise. Additionally, Faecks denied any partnership with market maker Wintermute, clarifying that Plasma has no service contracts and only public information on Wintermute’s XPL holdings.
MARKET REACTION AND PRICE PERFORMANCE
Following Faecks’ statements, XPL surged nearly 15%, climbing from $0.88 to $1.01 before dropping nearly 6% and settling at $0.98. The rebound reflected renewed confidence among investors, though analysts continued to question transparency around ecosystem and growth fund allocations. Some observers suggested that proving on-chain fund movements could further strengthen trust. Despite lingering doubts, the immediate market response highlighted the impact of leadership communication on token performance.
ADOPTION GROWTH AMID SKEPTICISM
Beyond price action, Plasma’s adoption metrics remain robust. The network has processed more than 2 million transactions since launch, with 1.4 million occurring in a single 12-hour window. Data from Dune Analytics shows around 5,000 new users joining daily, representing over 70% of daily active users. This steady growth suggests that user interest is outpacing negative sentiment. Analysts have even compared Plasma’s trajectory to Tron, highlighting its potential to capture a significant share of stablecoin payments if momentum continues.