Plasma’s XPL slips under $0.90 despite record turnover

Plasma’s XPL token is closely watched for a price recovery, as it still hovers around $0.86. The token achieved the highest daily turnover, with daily trading exceeding the token’s ￰1￱ is the most actively traded token, with daily turnover exceeding the supply for a ratio of ￰2￱ token is still trading with a high mindshare, though this is not reflected in the market ￰3￱ open interest also stalled at just under $1B, with around 67% in long ￰4￱ now, the token mostly saw long liquidations , to the tune of $3.3M in the past 24 ￰5￱ token is still highly active on Hyperliquid, with 56% of whales going long. However, the biggest Hyperliquid position is a short trade with a $72.5M notional ￰6￱ has been sliding since September 28, after peaking at $1.67.

The token’s price remained relatively depressed, despite the recent news of picking up ChainLink as a reliable ￰7￱ rails for global money movement require accurate, high performance data ￰8￱ are partnering with @Chainlink to provide oracle services on Plasma so builders can use digital dollars to create life-changing financial applications for those who need it most. ￰0￱ — Plasma (@Plasma) October 3, 2025 Even with the promises of becoming a stablecoin and financial hub, the early performance of XPL disappointed some of the investors, while the chain still has to show its real ￰9￱ trades with multiple sources of liquidity Despite the attention, XPL traded under $0.90, getting closer to its all-time low of $0.74.

The launch of XPL coincided with other high-profile airdrops, especially Aster (ASTER). However, XPL did not achieve the ‘up only’ result following its airdrop, despite the overall market ￰10￱ is still the most active token based on the ratio of its trading volumes to market ￰11￱ ranged between $2.4B and $1.7B, turning over the entire circulating supply of 1.8B ￰12￱ volumes are also consistently above the token’s market cap of $1.6B, suggesting significant liquidity and lively ￰13￱ activity includes KRW pairs, though the liquidity on those markets is shifting quickly. |