FEVER IN THE MARKET!
The XPL Token from Plasma Reaches a Valuation of $4.5 Billion Before Its Official Launch, Driven by Binance's Backing and Massive Speculation
The token #XPL from the blockchain #Plasma is creating a frenzy in the market ahead of its official launch, with a fully diluted valuation that has soared to over $4.5 billion dollars. Just a few months after raising $373 million in a private sale with a valuation of $500 million, the price of the token has skyrocketed 9 times in pre-listing markets like Hyperliquid and Binance, unleashing intense speculation.
The token, which was sold at $0.05, is now trading at $0.45, translating to a valuation of $4.5 billion. The intense speculation has led to long positions in these markets yielding an APY return of around 1,200%.
Support from #Binance : The momentum has been fueled by Binance's aggressive promotions. The exchange offered a "Plasma USDT Locked Product" that filled up quickly, forcing them to raise the subscription limit to $1 billion USDT. A tranche of $250 million USDT was completed in just three minutes, underscoring the enormous demand.
Star Project in Funding: Plasma, a layer 1 blockchain backed by Bitfinex and focused on stablecoins, raised $373 million in its public sale, exceeding its original target by more than seven times.
Ambitious Technical Proposal: The network is designed to provide commission-free USDT transfers and has evolved from its initial plan of combining Bitcoin's architecture with Ethereum's EVM, now opting to operate as an independent L1 with a bridge to Bitcoin.
$XPL