?? DESCRIPTION

Plasma's XPL token has plummeted over 80% from its September high of $1.67, now trading at $0.309. The token's value fell 13.6% in the last 24 hours, leading to $8 million in liquidations. Despite raising $74 million from investors including Bitfinex, allegations have surfaced that the team engaged market makers to short XPL, a claim denied by founder Paul Faecks.Originally intended for stablecoins, Plasma's blockchain is now primarily a lending protocol with $676 million in total value locked. However, it struggles with low transaction volumes of 14.9 TPS. With staking postponed until 2026 and limited utility in reducing transaction fees, XPL risks falling out of the top 100 cryptocurrencies.

LEO-0.17%XPL+7.22%

Source:Show Original

Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.

You may also like

• Crypto Fear & Greed Index Drops to 'Extreme Fear' Level2026/05/24 23:00
• Solana Meme Coin RICH Surges Over 500%, Market Cap Hits $8M2026/05/24 00:44
• Worldcoin Surges 10% Amid Bearish Market Sentiment2026/05/22 18:08
• Base Chain Meme Coin TSG Surpasses $6M Market Cap with 300x Surge2026/05/19 09:26
• Ethereum Faces Pressure Amid $11.5M Verus Bridge Exploit2026/05/18 11:42

This detailed match analysis covers key moments, player performances, and tactical insights. Download the full report in PDF format.