The stablecoin market has long surpassed the status of an 'add-on to trading'
The stablecoin market has long surpassed the status of an 'add-on to trading'. Today, USDT and USDC are a full-fledged payment infrastructure used by millions of people for transfers, business payments, and value storage. A logical step was the creation of blockchains tailored not for DeFi experiments, but for stable, cheap, and fast payments. It was with this idea that Plasma entered the market.
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Star, CEO of OKX, criticized the Binance exchange for their justification of the situation that occurred on October 10.
You can read the full article from Binance можете тут. I will also be weaving in my thoughts in parallel. In response to the released statement from Binance regarding the situation on October 10, he explained that the flash crash was a result of the irresponsible attitude of the exchange's marketing department toward the potential risks associated with USD.
The stablecoin market has long outgrown the status of "an addition to trading." Today, USDT and USDC are a full-fledged payment infrastructure used by millions of people for transfers, business payments, and value storage. A logical step was to create blockchains tailored not for DeFi experiments, but for stable, cheap, and fast payments. This is the idea with which Plasma entered the market.
Plasma tried to become the 'Visa for stablecoins': fast, without fees, and without unnecessary crypto noise. But the market voted with usage — not the idea. With low on-chain activity, XPL lost over 90% from its ATH. The Plasma case once again shows: in crypto, it's not the loudest concepts that survive, but those that are actually used daily.
Plasma — a bet on stablecoin payments that has yet to play out.
L1 chain with zero fees for USDT launched with high expectations but faced low on-chain activity and a drop in XPL of more than 90% from ATH. The problem lies not in the idea, but in the actual demand: without mass adoption, even the best infrastructure does not create value for the token.
Next-generation stablecoin blockchains: does Plasma have a future?
Stablecoins are gradually becoming the main payment tool in the crypto economy. In terms of transaction volumes, USDT and USDC have long surpassed most L1 tokens, and the market itself is moving towards fast, cheap, and regulatorily neutral settlements. Against this backdrop, specialized networks emerge, focused not on DeFi experiments, but on mass payments. One such project is Plasma.
Plasma (XPL) — is a Layer 1 blockchain specially optimized for stablecoins, primarily USDT: Provides fee-free transfers of USDT for everyday and cross-border money transfers. Utilizes its own consensus PlasmaBFT for high throughput and fast confirmations. Fully compatible with EVM, allowing for the deployment of Ethereum-type dApps and DeFi protocols. Integration with Bitcoin through trust-minimized bridges for enhanced security. The project started in September 2025 with the launch of mainnet beta and a significant amount of stablecoin liquidity (over $2 billion) and partnerships with leading DeFi protocols.
Plasma (XPL) is a Layer 1 blockchain specifically optimized for stablecoins, primarily USDT: Provides commission-free transfers of USDT for everyday and cross-border money transfers. Uses its own consensus PlasmaBFT for high throughput and fast confirmations. Fully compatible with EVM, allowing the deployment of Ethereum-type dApps and DeFi protocols.
Plasma is an infrastructure blockchain project focused on addressing one of the key challenges of Web3—scalability without sacrificing security and decentralization. The main idea of the network is to offload computations and data storage from the base chain, which significantly reduces the load on the main blockchain and makes working with decentralized applications faster and cheaper.