Rapid growth in Plasma price is being driven by on-chain activity, sparking comparisons to XRP.

Plasma Network's Rapid Ascent

Plasma (XPL) has experienced a recent price pullback of roughly 15%, despite exhibiting strong network adoption and vibrant on-chain activity. The platform has rapidly climbed to the 5th largest DeFi chain, boasting $6.4 billion in total value locked (TVL) shortly after its mainnet launch. Stablecoin reserves have increased to $5.3 billion, illustrating sustained capital inflows and a rise in ecosystem confidence. This swift growth demonstrates a substantial demand for Plasma’s specialized lending platform.

Strong Lending Activity and User Engagement

Within the AAVE platform, Plasma has attracted $6.7 billion in deposits, with $2.15 billion currently borrowed by users. A high annual percentage yield (APY) of 9.92% is drawing both retail and institutional investors to Plasma’s lending vaults. Transaction volume has surged 5,000% in the past month, revealing explosive growth in user activity. These metrics signal robust user engagement and continued platform usage.

Price Outlook and Bitcoin Hyper Introduction

Technical analysis indicates a descending triangle breakout suggesting a potential short-term trend reversal for XPL. A move toward $1 per token is possible, potentially offering a 15% gain, with further upside to $1.70 or higher. The content also briefly introduces Bitcoin Hyper ($HYPER), a layer 2 solution aimed at improving Bitcoin's capabilities through Solana blockchain integration.