XPL (Plasma) has fallen 1.11% in the last 24 hours.

Gate News Bot message, on November 13, according to CoinMarketCap data, as of the time of publication, XPL (Plasma) is currently priced at 0.26 USD, down 1.11% in the last 24 hours, with a high of 0.35 USD and a low of 0.25 USD. The 24-hour trading volume reached 213 million USD. The current market capitalization is approximately 462 million USD, a decrease of 5.21 million USD compared to yesterday. XPL currently ranks 111th in the market capitalization of Crypto Assets.

Important news about XPL recently:

1️⃣ The custody of XPL tokens is about to be transferred, enhancing asset security The Plasma plan aims to transfer the custody of XPL tokens to Anchorage, a federally chartered crypto bank in the United States, within 48 hours. This move is intended to enhance the security and compliance of XPL tokens, potentially boosting investor confidence. However, in the short term, it may raise concerns in the market regarding the liquidity of the tokens, impacting price performance.

2️⃣ Daylight collaborates with Plasma to launch yield-generating asset GRID The decentralized energy network Daylight will launch the yield-bearing asset GRID on Plasma for financing energy network construction. GRID is issued by M0 and is a fully collateralized stablecoin with instant redemption features. 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 record for deposits on a newly launched Layer 1 blockchain. This achievement highlights Plasma's important position in the stablecoin ecosystem, providing strong foundational support for XPL.

From a technical perspective, XPL is currently showing a volatile 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 are still worth paying attention to. However, the recent changes in token custody may trigger market fluctuations in the short term, and investors should closely monitor the project's continued development and potential regulatory impacts.

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