Plasma’s XPL Token Soars 12x After Explosive Public Sale

Plasma’s public sale for its native token, XPL, saw explosive demand, raising over $373 million in just minutes. Over-subscription and a surge in institutional backing have driven the XPL price to soar over 12 times since the initial offering. The project’s success stems from Tether and Peter Thiel’s support for Plasma and its focus on creating an efficient on-chain network, similar to Visa payments, using stablecoins.