Whales Buy Unexpected Amount of XPL: What's Behind This Project?
With major wallets placing audacious bets on Plasma, which bills itself as a next-generation stablecoin infrastructure chain, whale activity has increased around the token. A number of significant acquisitions in a brief period of time is a clear sign of solid conviction among investors.
Inflows to XPL
In order to purchase 7,920,000 XPL, 0x8393 offloaded 249,999 HYPE tokens worth $10,500,000. This was the most noteworthy transaction. Similarly, 0xF555 added 5,700,000 XPL at $1.05 using a 6,000,000 USDC deposit, while 0xcc07 deposited 6,270,000 USDC into Hyperliquid and bought 5,280,000 XPL at $1.19.
Given that these actions collectively amount to tens of millions of dollars moving into Plasma, it is evident that whales see potential in the long-term goals of this project. With a layer-1 blockchain designed specifically for stablecoin payments, Plasma positions itself as a solution to the inefficiencies that beset international finance.XXPLUSDT Chart by TradingView">
Fundamentally, Plasma offers custom gas tokens and zero-cost stablecoin transfers, guaranteeing scalability and lowering end-user friction. Plasma presents itself as the native settlement layer for the widespread adoption of stablecoins by emphasizing permissionless stablecoin access rather than merely another chain.
Supply distribution
With an unlocked market cap of $2,340,000,000, Plasma has already unlocked about 1,800,000,000 XPL out of the entire supply, according to on-chain data. The concentration of holders is impressive: over 81% of the supply is controlled by the top 10 addresses, indicating that whales are settling in early. It also shows that whales are confident enough to corner supply, even though this centralization raises concerns about future volatility and sell pressure.
This momentum has been mirrored in the price. XPL rose more than 8% over the last day, briefly surpassing $1.30 before leveling off. Buying pressure reveals that Plasma might become a significant player in the stablecoin settlement market and the digital assets industry in general.
This spike is not just conjecture — it is a wager that stablecoin rails will serve as the foundation of the next financial era, and Plasma is actively advancing that theory. The recent whale accumulation could signal the start of XPL’s rise to mainstream prominence if the project lives up to expectations.