2026-01-03 04:26:25

The recent market has indeed been a bit bleak, and the XPL project has also experienced quite a bit of fluctuation. Here's a brief overview of the logic behind this coin.

XPL is the Layer1 native token of the Plasma stablecoin, with the main selling point being zero-fee USDT transfers, while also achieving EVM compatibility. It has a Bitcoin anchoring mechanism at the underlying layer to ensure security. It certainly seems to have a lot of potential.

But the problem is also clear—circulating supply is about 1.978 billion tokens, which is not a small amount. More importantly, there will be a large unlock in July 2026, which could lead to significant selling pressure during that period. In the short term, volatility is inevitable; the focus should be on two main aspects: first, the progress of ecosystem application deployment, and second, whether the pace of token unlocks can match the project's development. This type of project tests whether the team can build out the ecosystem within the unlock cycle; otherwise, it risks falling into a vicious cycle.

XPL-3,07%

BTC-1,8%

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OnchainUndercover

· 01-06 03:25

Zero-fee transfers sound great, but the circulating supply of 1.978 billion is indeed a bit intimidating. If the ecosystem isn't well-established by the 2026 unlock wave, it will be really tough. Right now, the only thing to bet on is whether the team is reliable. It feels like these kinds of projects are just betting on whether the ecosystem can be built faster than the speed of rug pulls. For now, it all depends on who can get the dApp up and running while the token price is still alive. I'm still a bit skeptical about this kind of stablecoin approach. The technical highlights are there, but whether the market is sufficiently educated is another issue.

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CommunityLurker

· 01-05 20:07

The platform is so large that it won't be unlocked until 2026. During this period, the ecosystem must grow rapidly, or it will just be a ticking time bomb.

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AirdropFatigue

· 01-04 07:24

Zero-fee transfers sound great, but a 1.978 billion market cap is a bit... Do you really believe that 26 years is enough to build an ecosystem?

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CryptoSurvivor

· 01-03 04:56

Big unlock in 2026? Well, I gotta live until then, buddy.

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StableBoi

· 01-03 04:50

The unlock in July 2026 will probably cause a run, and now everyone who entered is just a bagholder, right?

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GmGnSleeper

· 01-03 04:50

The unlock in July 2026, better to mentally prepare in advance.

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ProposalDetective

· 01-03 04:46

Zero-fee transfers sound great, but with such a large market cap, it’s really hard to unlock without issues. --- Unlock in 26 years? That means betting on whether the team can get things moving by then. --- I just want to know how this ecosystem application is doing now; it all feels like just a pie in the sky. --- Plasma stablecoin? Haven’t heard of any real-world implementation, and the risks are quite high. --- Basically, it all depends on the team’s execution ability; otherwise, more and more projects die this way. --- Bitcoin pegging sounds safe, but 1.978 billion coins in circulation still makes people a bit uneasy. --- The biggest risk with this kind of project is that the ecosystem doesn’t take off before unlocking; then a dump is inevitable. --- Can zero-fee transfers really become mainstream? The outlook seems quite uncertain. --- What’s the point of EVM compatibility? It depends on on-chain activity to be meaningful. --- Betting that it can take off before next year’s unlocking pressure, but the chances seem slim.

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WagmiOrRekt

· 01-03 04:31

Zero-fee transfers sound good, but with a circulating supply of 1.978 billion coins, it's really a bit overwhelming. There are also major unlocks waiting in 2026. Whether the ecosystem can keep up with the unlock schedule is the key; otherwise, it will just be another VC-driven story. In this bear market, everything depends on fundamentals; storytelling alone won't be convincing. The team needs to produce real results in the next two years, or I think it will be uncertain. Bitcoin's anchoring mechanism sounds secure, but whether it can truly protect the price is another matter.

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