Plasma XPL Explodes: Is This the Beginning of the End for Tron TRX USD and Justin Sun’s Empire?

If you’re a TRX holder, it’s time to start worrying. Get ready to wrap your head around major changes unfolding in the multi-billion-dollar stablecoin space, a court Tron has dominated for years.

Yesterday, the Plasma mainnet launched, and contributors, even those who supplied just $1, received over 9,300 XPL tokens for free. It was a classic airdrop, the kind designed to spark FOMO, of which Plasma delivered in spades.

At press time, those 9,300 XPL tokens are worth more than $10,000, with the XPL USD price defying gravity and climbing higher. Patient HODLers could emerge as big winners in the weeks ahead. For the less patient, selling might be the path of least resistance, especially now that XPL boasts ample liquidity across multiple exchanges, including Binance.

On Coingecko, XPL USD is holding firm above $1.20. Thanks to its explosive growth on September 25, its market cap has surged past $2.3 Bn, catapulting Plasma higher and cementing its position as one of the best cryptos to buy. More than 18 hours after launch, Plasma remains a trending topic, with trading volumes climbing steadily across major exchanges. This surge signals strong investor interest, even as the broader market grapples with a sell-off.

(Source: Coingecko)

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What Is Plasma, and Why Is XPL USD So Hot?

Plasma isn’t just another layer-1 blockchain; it’s a powerhouse with serious backing. Like Bitcoin, it’s a public chain, but unlike general-purpose platforms such as Ethereum or Solana, Plasma is laser-focused on powering stablecoins, especially USDT from Tether.

This focus makes perfect sense. While there’s no direct tie to Tether Holdings, Plasma is supported by Bitfinex, whose owners also control the USDT issuer. Beyond Tether, which issues USDT, the world’s largest stablecoin by market cap, Plasma draws heavyweight investors like Peter Thiel, the renowned backer of successful crypto ventures, including Riot Mining.

Technically, what sets Plasma apart is its ground-up design for efficiency. Scalability is baked in, but the real magic lies in enabling near-zero-fee USDT transfers through a specialized paymaster system. It hit the ground running, attracting over $2Bn in commitments moments after launch. More than 50 DeFi partners, including crypto heavyweights like Aave, Ethena, and Curve, are already live on Plasma.

Furthermore, less than a day in, over $1.1Bn in stablecoins have been bridged from Ethereum and Arbitrum via LayerZero.

(Source: Dune)

If XPL USD ticks higher, the expected XPL FOMO will only fuel further adoption.

Plasma Blockchain just launched with zero-fee USDT transfers and already sits on $2B in TVL

But here’s the part nobody’s talking about …

If you can move billions in USDT for free, who really wins and who loses?

Banks? Dead weight. They can’t compete with instant,… pic.twitter.com/xwU7MdSmvN

— Simba (Egide) (@egidesimba) September 25, 2025

Each XPL sold for $0.05 during its public sale, which saw  $373M in commitments. Participants, even those staking as little as $10 in USDT via Binance Earn’s locked product, scored at least 9,300 XPL, regardless of stake size. At current levels, XPL’s fully diluted valuation exceeds $12.4Bn, with the token up over +100% in the past 24 hours.

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