The Plasma (XPL) token extended its rebound with an 18% daily gain, though it remains 94% below its all-time high. A significant token unlock released approximately 88.89 million XPL, valued near $10.79 million, into circulation. Meanwhile, data shows Binance top traders are heavily positioned long, with a Long/Short Ratio of 2.74, and exchange outflows indicate tokens are leaving trading platforms despite recent volatility.
The Plasma (XPL) token extended its rebound with an 18% daily advance, though it still trades 94% below its $1.68 all-time high. The asset has rebounded 37.18% from its all-time low printed twenty days ago, indicating buyers have defended recent downside extremes.
An additional 88.89 million XPL tokens have now entered circulation, representing roughly 4.33% of the existing supply and carrying an estimated value near $10.79 million. Traders must evaluate whether secondary market demand can absorb this incremental float.
Derivatives positioning showed a clear directional tilt, with 73.23% of Binance top trader positions allocated to longs. The Long/Short Ratio has climbed to 2.74, signaling aggressive upside exposure rather than balanced hedging.
Spot flow data indicated a recent net outflow of approximately $822,130, signaling tokens have continued leaving exchanges. This dynamic suggests holders have not rushed to liquidate aggressively at current levels.
Liquidation data revealed $93,320 in long liquidations at press time, compared to $34,200 in short liquidations across major venues. This imbalance shows leveraged bulls have absorbed more forced losses during intraday volatility.
