• Plasma’s XPL token rallies past $1 with $2 billion locked after mainnet launch
• Whale grows $2.7 million XPL bet into $50 million, driving breakout confidence higher
• Futures surge 958%, open interest doubles, and XPL eyes $1.30.

XPL price has increased to over $1 with the release of its mainnet. The rally ranks among the highest for the debut of any token this year. It demonstrated a high volume of adoption and large trading volumes. The next price target for XPL based on technicals is $1.30

Plasma Mainnet Launch 

One of the features of the launch is the transfer of USDT stablecoin with zero commission fee. This attracted traders and liquidity providers looking for reduced commission costs. Also, the total value locked in the network grew to more than $2 billion within hours of launch. 

Source: DefiLlama

This amount meant that Plasma is one of the fastest-expanding ecosystems of 2025. Such rapid inflows occurred only on a few new chains.

The launch provided a distinct rationale as to why people should use it. One of the greatest needs within the digital assets space is stablecoin efficiency. This is what Plasma aims to fulfil. If the network succeeds in meeting its promises, the mood in the market will shift towards bullishness.

Whales’ Purchase 

The market breakout was also enabled by large investors. The holdings of one investor vastly increased to nearly $50 million. According to Lookonchain records, this investor started with $2.7 million.

They also purchased XPL when its price was $0.5 before the actual launch of the mainnet. This generated much hype in trading forums, and it was referred to as the largest early success since Solana.

Whale behavior is usually a sign of increased confidence. In this instance, the big price push for XPL was contributed by key drivers of the Plasma launch.

Also Read | JasmyCoin (JASMY) Price Prediction: Will a Bullish Rebound Trigger a 5x Surge?

Technical Indicators Suggest Further Growth

Using Fibonacci extensions from pre-launch accumulation zones, analysts show that the first major target is at approximately $1.30. Those zones coincide with the 0.1618 Fib extension. This level usually indicates a continuation of the bullish moves.

According to VWAP, short-term support is around $0.9. Price should remain high above it in order to retain the running bullish trend. When the price is lower than VWAP, it may go down to approximately $0.80.

The token has overcome the resistances between $1.10 and $1.15. The implication of this is that the rally is about enter into the second stage.

Source: TradingView

Derivatives Attest To Rally Strength

Derivatives data from Coinglass reveals that XPL had greater than $1 billion in futures trading volume in the last day. This is a 958% increase compared to the past sessions.

The open interest also increased by more than double, exceeding $1 billion. It implies that there’s an increased number of traders opening new positions. As the open interest increases with the increased price, it signifies that the upward trend will most likely continue. This will happen until this correlation is broken.

Source: Coinglass

Most Watched Tokens

The native token by plasma has been among the most sought out tokens of the year. The mainnet launch, large wallet purchases, excellent Fibonacci targets, and massive futures trading all contribute to the price reaching a new level.

The upcoming sessions will determine whether XPL continues its upward movement or retreats following massive profit-making.

Also Read | Dogecoin Breaks Key Level, Could Bounce Back From $0.20 Support