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Plasma stablecoin launch surges with $2B day-one inflows and $7B in two days, offering zero-fee transfers, DeFi integrations.
Author: Akshat Thakur
September 28, 2025 — The Plasma stablecoin launch has taken the crypto world by storm, pulling in over $2 billion in liquidity on day one and surging to $7 billion within just two days. The new Layer 1, backed by Bitfinex and Tether, is positioning itself as a high-speed, zero-fee hub for stablecoin settlements and DeFi activity.
The Plasma stablecoin launch on September 25 introduced EVM compatibility, PlasmaBFT consensus, and zero-gas USDT transfers. Pre-committed liquidity from partners like Aave, Bybit, and Tether fueled the initial $2B inflow, which quickly ballooned to $7B as incentives offered yields of up to 1000% APR.
Its native XPL token, with a supply of 10 billion, rallied 113% to $1.54 after early volatility, pushing its fully diluted valuation to $10–12 billion. Seamless bridges such as Stargate enabled cross-chain transfers, while Bitcoin-native checkpoints added security for institutional flows.
Analysts say the Plasma stablecoin launch represents a textbook “vampire attack” on Ethereum. By offering lower fees and higher yields, it has lured liquidity away from incumbent chains. Aave alone recorded $3.5B in deposits on Plasma, while overall TVL rose to $3.4–4B.
The growth underscores two forces: hype amplified by incentive-driven inflows and genuine structural advantages like zero-fee stablecoin rails. Still, sustainability questions remain, as liquidity may retrace once rewards cool.
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The rapid success of the Plasma stablecoin launch could fragment the stablecoin market, forcing Ethereum and L2s to further cut costs and innovate. With its compliance tools, EVM support, and institutional partnerships, Plasma aims to position itself as a settlement hub for trillions in payments.
For retail, apps like Plasma One promise user-friendly access, while institutions may value regulated features. If adoption continues beyond incentives, Plasma could set new standards for specialized Layer 1 blockchains.
Plasma was born from collaborations with Bitfinex, Tether, and investors including Peter Thiel. Pre-launch, it raised $75M and tested its systems with strong community participation. The September debut, which drew $2B on day one and $7B within two days, marks its most significant milestone yet, placing it firmly among top contenders in the stablecoin ecosystem.
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