XPL (Plasma) fell 9.19% in the last 24 hours.

Gate News Bot news, on November 14, according to CoinMarketCap, as of the time of writing, XPL (Plasma) is currently priced at 0.23 USD, with a 24-hour fall of 9.19%, reaching a high of 0.35 USD and a low of 0.23 USD. The current market capitalization is approximately 423 million USD, a decrease of about 42.76 million USD compared to yesterday.

Important news about XPL recently:

1️⃣ Transfer of XPL Token Custody, Enhancing Asset Security Plasma plans to transfer the custody of XPL tokens to the federally chartered crypto bank Anchorage within 48 hours. This move aims to enhance the security and compliance of the XPL tokens, potentially boosting investor confidence. However, in the short term, it may raise concerns in the market regarding the liquidity of the tokens, affecting price performance.

2️⃣ Daylight partners with Plasma to launch GRID assets The decentralized energy network Daylight will launch the income-generating asset GRID on Plasma for financing energy network construction. GRID is issued by M0 and is a fully collateralized stablecoin with instant redemption functionality. This collaboration is expected to bring new application scenarios and user groups to Plasma, potentially enhancing the ecosystem value of XPL.

3️⃣ Plasma stablecoin deposits hit a record high of $7 billion After the launch of the native token XPL by Plasma in the third quarter, the platform's stablecoin deposits exceeded $7 billion, setting a new record for deposits on a newly launched Layer 1 blockchain. This achievement highlights Plasma's significant position in the stablecoin ecosystem, providing strong foundational support for XPL.

From a technical perspective, XPL is currently showing a fluctuating downward trend. Considering the important position of the Plasma network in the stablecoin market and new collaborative projects, the medium to long-term development prospects remain worthy of attention. However, changes in token custody rights in the short term may trigger market volatility, and investors should closely monitor the project's ongoing development and potential regulatory impact.

This message is not intended as investment advice; investors should be aware of market volatility risks.