Plasma Blockchain Surges in DeFi Rankings with $4 Billion in 24 Hours

According to BlockBeats, the stablecoin Layer 1 blockchain Plasma has absorbed over $4 billion in cryptocurrency within 24 hours of its launch, securing the eighth position in blockchain DeFi deposit value rankings. This achievement is largely attributed to the Plasma lending vault and its associated DeFi protocols, where users can earn the network's native token, XPL. The initial success of Plasma has driven the price of the XPL token up by 30% from its opening price, currently valued at approximately $1.2. This corresponds to a fully diluted valuation of nearly $12 billion, marking a 24-fold increase from its $50 million valuation during its public sale in June. For investors who participated in Plasma's seed round on the early investment platform Echo last November, this represents an astonishing 324-fold return.