Plasma (XPL) has faced a steep 43% price drop amid rumors linking the project to Blast and Blur, but CEO Paul Faecks has reassured the community that the team remains fully committed.
š Key Highlights:-
š“ Team Token Lock:
⢠No sales:
No Plasma team member has sold XPL tokens.
⢠Lockup:
All allocations are locked for 3 years with a 1-year cliff.
⢠Purpose:
Protect investor confidence and long-term project integrity.
š“ Professional Team Background:
Team size:
Around 50 members.
⢠Experience:
Members come from Google, Facebook, Square, Temasek, Goldman Sachs, Nuvei.
⢠Blast & Blur:
Only 3 members previously involved in Blast or Blur.
š“ Market Interaction:
⢠Wintermute:
Plasma has not engaged with Wintermute market maker.
⢠Focus:
Team remains focused on building the future of money, not responding to rumors.
š“ XPL Price Pressure:
⢠Recent drop:
Price fell 43% in 4 days, trading at $0.94 at press time.
⢠Short-term movement:
Dropped 6.6% in 24 hours while the wider crypto market gained.
⢠Market metrics:
Market cap $1.69B, 24-hour trading volume $2.89B.
š¢ Why This Matters:
⢠Community reassurance:
Fends off FUD and preserves investor trust.
⢠Team credibility:
Demonstrates a strong, experienced team behind XPL.
⢠Growth potential:
XPL remains well-positioned amid the mainstream adoption of stablecoins.
š® Final Word:-
Despite short-term price pressure, Plasma (XPL) continues building long-term value with a professional team, locked tokens, and a clear roadmap for growth in the stablecoin and DeFi ecosystem.
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$USDC