Plasma went live and absorbed over 4 billion dollars in cryptocurrency within 24 hours, ranking eighth in the value of deposits in blockchain DeFi

ChainCatcher news, the stablecoin L1 blockchain Plasma has absorbed over $4 billion in cryptocurrency within 24 hours of its launch, ranking eighth in the value of deposits in blockchain DeFi. This is mainly due to the Plasma lending vault and the users who lock assets in partnered DeFi protocols, allowing them to earn the network's native token XPL.

The initial success of Plasma has driven up the price of the XPL token, which has increased by 30% from its opening price, currently around $1.2, corresponding to a fully diluted valuation of nearly $12 billion, a 24-fold increase from the $50 million valuation during its public sale in June. For investors who participated in the seed round of Plasma on the early investment platform Echo last November, this means an astonishing return of up to 324 times.