The post Plasma [XPL] rockets 87% to ATH! Why this whale-backed rally is far from over appeared on BitcoinEthereumNews.com.

Key Takeaways  Why did XPL surge to new highs? Whale accumulation, $2 billion liquidity, and $399.8 million Buy Volume lifted price action, signaling bullish conviction. What’s next for Plasma? Sustained inflows may push XPL toward $2, though profit-taking could trigger a retracement to $1.44 in the coming sessions. Plasma [XPL] surged 13.55% to a new all-time high of $1.69 before retracing to $1.55 at press time. Since its launch three days ago, the token has gained 87.25%. Over the same period, its market cap climbed 12.56% to $3.3 billion, signaling steady inflows of capital. Whale backing of XPL sets records Significantly, Plasma has experienced strong whale and institutional backing, unlike any other blockchain before.  In fact, Plasma launched with $2 billion stablecoin liquidity on the 25th of September, becoming the first chain to do so.  Zero-fee USDT transfers and large entity participation fueled the early liquidity spike. Interestingly, AMBCrypto’s analysis of on-chain data confirmed that whales bought 20 million tokens before launch. Source: Nansen Since then, balances continued to rise, signaling accumulation. In fact, Lookonchain reported such an accumulating whale address. As per the on-chain monitor, a whale spent $1.28 million and bought 781,252 XPL tokens. Sustained whale buying typically indicated strong conviction and provided bullish momentum. Plasma whale profitability surges Interestingly, while whales were strongly backing XPL, they were also smiling with massive profits accrued.  Source: EmberCN/X According to EmberCN, one whale has already earned $80.15 million on XPL. This whale pumped the price to trigger liquidations and automatically closed positions, making $38.77 million in profits.  The whale dispersed all the profit across 20 addresses and opened long positions. After the price pumped again, he closed all the positions. Now, that address holds 45.47 million XPL in spot with a cost basis of $0.77, translating to $41.38 million in unrealized…

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Filed under: News - @ September 29, 2025 9:26 am