The price of Plasma's native token, XPL, has surged by over 15% in the last 24 hours, reaching $0.17 at the time of writing. This represents a gain of more than 60% from its recent low of $0.11 on December 20. The rally follows a series of positive ecosystem updates from the Plasma team in December.
Key ecosystem metrics show significant growth. Support for USDT on the Plasma network has expanded to over 30 exchanges, with eight new additions in December alone. Daily USDT transactions on centralized exchanges (CEX) have skyrocketed from approximately 5,000 post-launch to around 40,000, indicating increased user adoption and trust. This activity has contributed to Plasma reaching a stablecoin market capitalization of $2.1 billion.
The ecosystem's Total Value Locked (TVL) has seen substantial inflows. SyrupUSD₮, a stablecoin on Plasma, has grown to over $1.1 billion in TVL since its launch. Furthermore, the project has integrated with Maple Finance, providing users access to institutional-grade onchain asset management.
A major real-world product is in development. The Plasma Card, described by the team as their primary real-world product, is currently in an internal testing phase with 30 users and has recorded over $10,000 in daily volume. The team is reportedly investing heavily to resolve issues and push the card toward a final public release.
Institutional backing provides a strong vote of confidence. Vance Spencer, co-founder of Framework Ventures, publicly stated that "Plasma is going to make it in 2026," citing a wave of new products set to launch. Framework Ventures led a $20 million fundraising round for Plasma at a $500 million valuation, which is notably higher than XPL's current market cap of approximately $300 million. The Plasma team has reaffirmed its full commitment to building the ecosystem around the XPL token.
From a technical analysis perspective, the XPL price rally has pushed the Relative Strength Index (RSI) to around 53, suggesting there may still be room for further upward movement. Analysts see a move toward $0.20 as a best-case scenario under current conditions, with a clean breakout above that level potentially opening the door to a retest of $0.30. Support is seen around the $0.15 level.
