#plasma With the launch of its native token $XPL — which functions as the gas, staking, and reward token of the Plasma network — market dynamics shifted into high gear:

On debut, the XPL token reached an initial market capitalization above $2.4 billion, based on early trading prices and circulating supply.

At launch, approximately 18% of the total 10 billion XPL supply was in circulation, translating price performance into meaningful market valuation.

Putting these figures in perspective, a $2+ billion market cap at launch for a chain dedicated solely to stablecoin settlement is significant: it places Plasma in a valuation tier that rivals or surpasses many multi-purpose L1 projects at similar stages.@Plasma