Plasma’s native token XPL traded near $0.084 on July 28 after rebounding from $0.079 support following the distribution of tokens to eligible US public-sale participants. The network holds approximately $612.6 million in total value locked and $882.4 million in stablecoin liquidity, processing over 932,000 daily transactions. However, seven-day DEX volume fell 32.17% to $20.2 million, and daily revenue remained modest at $159. The largest headwind is supply growth, with approximately 1.67 billion team and investor tokens scheduled to unlock on September 25. Monthly ecosystem releases of 88.89 million XPL continue through September 2028.
Plasma’s native token XPL traded near $0.084 on July 28 after rebounding from support around $0.079 following the distribution of tokens purchased by eligible US public-sale participants. The recovery has improved short-term momentum, but XPL’s long-term outlook depends on whether Plasma can generate enough network demand to absorb future token issuance.
According to DeFiLlama, the protocol holds approximately $612.6 million in total value locked and $882.4 million in stablecoin liquidity, processing more than 932,000 daily transactions. However, seven-day DEX volume fell 32.17% to approximately $20.2 million, while daily chain revenue remained at around $159.
Supply growth could become one of the biggest factors influencing XPL. Plasma launched with a maximum supply of 10 billion XPL, of which approximately 2.69 billion currently circulate. An undisclosed portion of the one-billion-token public-sale allocation became claimable by eligible US participants on July 28.
A much larger unlock is scheduled for September 25, when approximately 1.67 billion team and investor tokens are expected to enter circulation. The ecosystem allocation releases roughly 88.89 million XPL each month through September 2028.
From a technical perspective, XPL continues to trade within a broader downtrend. Successive highs have fallen from approximately $0.11 to $0.095, before declining toward $0.086. The rebound from $0.079 was accompanied by stronger volume, with the four-hour RSI at 52.21. Buyers need to reclaim the $0.085-$0.086 resistance zone for a more convincing recovery. Resistance sits near $0.090 and $0.095, while losing $0.079 would expose $0.075 support.
Any long-term valuation must account for a larger circulating supply. Assuming at least 10 billion XPL in circulation by 2030, a $250-500 million network valuation would imply a price between $0.02 and $0.05. A $1-3 billion valuation would suggest $0.08-$0.30, while a $5-10 billion valuation could support $0.42-$1.00 — though that would require sustained stablecoin adoption and higher fee generation.
