Xiao Oh's personal views on today's Binance gain leaderboard for the popular XPL
Xiao Oh's understanding of XPL: XPL is the native token of Plasma, a Layer 1 blockchain designed for stable assets, aiming to provide free USDT transfers and a fast, low-cost stablecoin payment experience. It has received support from notable investors such as Peter Thiel and Framework Ventures, with its mainnet launch achieving a TVL of 1 billion USD, setting a record.
Current market trend for XPL: XPL is experiencing explosive pre-market trading, with the current price around 0.39 USD, nearly a tenfold increase from the public offering price of 0.05 USD, achieving a fully diluted valuation of 4.5 billion USD. The main reasons for its attention include Binance's billion USDT lock-up plan being quickly filled and Hyperliquid launching 3x leveraged perpetual contracts, but there is significant disagreement among bulls and bears, with whales engaging in high-leverage speculation, necessitating caution regarding high volatility risks.
Xiao Oh's outlook on XPL's future trend: XPL is bullish in the short term, with the mainnet launch expected in September and Binance's revenue plan being a catalyst. However, one must be cautious of high volatility, unlocking selling pressure, and the risk of a pullback after excessive speculation. Its long-term value depends on the actual adoption of the stablecoin ecosystem.
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