What happened? Plasma’s mainnet launch, a viral airdrop and exchange listings sent XPL surging.
Plasma (XPL) launched its mainnet and hit major exchanges, driving the price up to $1.68 — about a 3,260% gain from the $0.05 presale. A viral airdrop that gave users nearly 9,000 tokens for a $1 deposit amplified the hype and created huge windfalls at the peak. The token has since pulled back toward a $1.10 demand zone, but technicals suggest buyers could push it higher again.
Who does this affect? Early investors, airdrop recipients, traders, and anyone chasing altcoin presales and airdrops.
Presale buyers and airdrop recipients saw massive paper gains and many now hold positions that could be sold or used for further trading. Traders and exchanges benefit from the spike in volume and volatility, while retail investors and meme-coin communities are aggressively hunting similar opportunities. New projects and presales, like Pepenode, stand to gain attention and capital as people look for the next big return.
Why does this matter? It redirects capital and attention across crypto markets, boosting short-term liquidity and volatility with broader market implications.
A runaway token like XPL brings fresh liquidity and retail FOMO into small-cap altcoins, which can spark an altcoin season and lift many related projects. If buyers defend key supports and drive a rebound, capital could rotate from established players to newer chains, creating big winners but also increasing the chance of sharp corrections. Overall, this trend raises both upside potential and systemic risk — more volume and speculation can fuel fast rallies, but they can also trigger rapid sell-offs that ripple through the market.