Plasma
XPLLive since 18 September 2025, about 12 months. Machine-drafted, not yet checked by a person.
Plasma says it is building a network where people and businesses can hold, move, earn, and spend digital dollars (stablecoins) through connected products. Of the 6 things it promised, it delivered 0, 6 are still open (6 with no date); nothing dated is coming up. It trades at $0.0811, #162 of all coins by size, 95% below its highest ever price.
This week Nothing changed on its record.
A real job, real backing. Delivered 0 of 6, none late. Nothing dated ahead. #3 of 7 neobanks. Nothing to be careful of on the record.
Is it real?
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3 of 4
- ✓A real-world jobReal-world purpose: payments
- ✓Real backingBacking: trades on Coinbase, Crypto.com, Kraken
- –Something aheadA dated step, deliveries on record, or demand showing up in the news.
- ✓Room to growRoom: worth $225.3M, 8 times smaller than Mantle, the biggest coin within reach doing the same thing (Neobank)
Listed on 10 big exchanges
- Origin18 September 2025about about 12 monthsplasma.to, Whitepaper
- DevelopersNot namedNeither Wikidata nor its listing names the foundersNo public code repository listed
- BackingNo named investorListed on Coinbase, Crypto.com, Kraken, Bitstamp
- Standing on the record0 of 60 confirmed by outside news0 headlines last month28,898 people keep it on a CoinGecko watchlistNo corrections needed so far
It is already worth more than the typical coin in Neobank ($84.68M). To match the leader, Mantle ($1.84B), its price would need to rise 718%, to about $0.6631.
Still to check
- 6 dated promises, none delivered yet
- No named investor among its tags
- Only 0 headlines named it last month
What to do Nothing dated is ahead and nothing has been delivered on record. There is no event to wait for yet, which is itself the answer.
A gap is not a forecast. Most small coins never close it. The site never picks.
Four tests, printed. Passing all four means a real job, real backing, something ahead, and a price far below the leader of its group. A filter on facts, never a verdict.
Every line has a source: the coin's own listing, CoinGecko's tags, the record, or the news feed. Reputation here is a count, never an opinion.
Does it deliver?
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Every line is quoted from the project's own pages, with the copy we stored and, where one exists, the article that reported it
0 of 6
promises delivered, by the project's own pages
0 of those confirmed by an outside news report
Promises by the year they were due
delivered open past due
The project gives no dates for these, so there is no line to draw. What its pages say, in plain words:
Still open, undated (6)
- Plasma says it will apply for a CASP (Crypto-Asset Service…
- Plasma says it will prepare to obtain an EMI (Electronic…
- Plasma says it will expand its compliance operations in…
- Plasma says it will deepen integrations with on/off-ramp…
- Plasma says access to Plasma One will be released in…
- Plasma says that over time, outside institutions, wallets,…
- Openno datePlasma says it will apply for a CASP (Crypto-Asset Service Provider) license under the EU's MiCA rules so it can custody and exchange assets for users.
- Openno datePlasma says it will prepare to obtain an EMI (Electronic Money Institution) license to connect fiat deposits and withdrawals directly to its stablecoin system.
- Openno datePlasma says it will expand its compliance operations in the Netherlands.
- Openno datePlasma says it will deepen integrations with on/off-ramp and FX providers, and expand its licensed payments and custody systems.
- Openno datePlasma says access to Plasma One will be released in stages over time.
- Openno datePlasma says that over time, outside institutions, wallets, and payment applications will be able to build on the same infrastructure Plasma uses itself.
What is next, and when?
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Nothing dated
The project has not put a date on anything still open. That is a fact worth knowing.
How big is it next to its rivals?
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Only coins within a hundred times its worth; a coin a thousand times bigger is another world
Payments
18 coins we checked say they are for payments, worth $1.64T together. #11 of 18 by worth.
Neobank: this coin against its direct competitors
- CoinWorth, as a barWorthAgainst this coinToday, and the gapSupplyPromises
Plasma$225.3Mthis coin+0.5%no max0 of 6 delivered
Mantle$1.84B8.2× bigger, +$1.62B−1.2%, gap −1.753% out0 of 2 delivered
Ether.fi$589.89M2.6× bigger, +$364.59M−6.0%, gap −6.597% outno record
Telcoin$156.32M1.4× smaller, −$68.98M−0.1%, gap −0.699% out0 of 1 delivered
Superform$13.05M17.3× smaller, −$212.26M−7.1%, gap −7.623% outno record
TRIA$7.45M30.3× smaller, −$217.86M+0.7%, gap +0.322% outno record
Avici$3.96M56.8× smaller, −$221.34M+3.3%, gap +2.8100% outno record
Neobank: this coin next to Mantle, the biggest rival within reach. People go to the bigger coin unless the smaller one does something it does not.
- Plasma says
- Plasma says it is building a network where people and businesses can hold, move, earn, and spend digital dollars (stablecoins) through connected products.
- Mantle says
- Mantle is a blockchain network that aims to let financial institutions and investors issue, trade, and access real-world investment assets online.
Two claims, side by side, in their own words. Whether the difference is real is for the record to show over time, and for you to judge.
Plasma says it is building a network where people and businesses can hold, move, earn, and spend digital dollars (stablecoins) through connected products.
Its listing puts it this way: Plasma is the layer 1 blockchain building the stablecoin infrastructure for a new global financial system.
Problem it says it solves: payments. 41 coins we have checked say the same; together they are worth $1,745,498,830,279.
Where it trades: Coinbase, Crypto.com, Kraken, Bitstamp, Binance
Each bar is a coin's worth today (price × coins out), longest first. The lit bar is this coin; grey bars are the others doing the same job.
Bars are market cap. Order is size, nothing else. Differences are measured from the coin you are looking at.
What should make me careful?
Nothing printed today
None of the six tests fails. A missed promise counts only on a record a person has checked.
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Neobank: this coin next to the group's largest, Mantle.
| Plasma | Mantle | |
|---|---|---|
| Years trading | 12 months | 3 years |
| Major exchanges | 10 | 6 |
| Named backers | 0 | 1 |
| Headlines, last month | 0 | 31 |
| Promises delivered | 0 of 6 | 0 of 2 |
What it says is different: Plasma is the layer 1 blockchain building the stablecoin infrastructure for a new global financial system.
It is 12.2% the size of Mantle. On the facts above it is behind on years trading, named backers, headlines, last month. For that gap to close, the record would need deliveries showing up in its record, news that names it. Nothing here says it will; the site does not predict.
The tests: nothing to hold it for, more missed than delivered, priced ahead of its record, half the supply still to come, rivals ship while it does not, a big release of coins soon.
The homework: the coin itself, the news, the record
The coin itself
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The last 7 days
Where today sits against its highest ever price
Highest ever: $1.68 on 27 September 2025. Today is 5% of that.
28%
of all XPL that will ever exist is already out in public hands: 2.78B coins.
72% (7.22B coins) is not yet created or held by the project. That is a majority. Those coins can be sold later, which can push the price down.
out held back. Each dot is 1%.
Its pages do not say what holding it gets you
That is worth knowing before buying. A coin nobody needs is priced on hope.
- Nothing the project's own pages spell out.
That is all a market cap is: today's price times the coins in public hands. It moves every time the price does. It says what buyers are paying, not what the coin is worth.
- 2.78Bin circulation of 10B total. No hard maximum is set, so more can be created.
- 3.6×fully diluted value versus today's market cap. The gap is coins not yet released.
- of its all-time high of $1.68 on 27 September 2025. That is −95.2% from the top.
- #162by market cap, $225,303,979.
- Not checkedwho holds the most coins, and how much has been burned. Those need on-chain data this site does not read yet.
Supply and value figures from CoinGecko, refreshed hourly. Not part of the record.
- $581.37M is locked in apps built on it right now
- Users paid $13.76K in fees to use it in the last 30 days, $13.76K of that kept by the network
From DefiLlama, refreshed nightly. Fees are what people paid to use the thing; value locked is what they trust it to hold. Facts, not a score.
What the news says
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Nothing in the news this month.
Nothing matched in the last month from the sources we read. CoinDesk, Cointelegraph, Decrypt, The Block, plus Google News searches for coins with a record and the top 100.
The record itself
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Six facts, the project's own replies, its peers, contract facts, references and every stored copy
Plasma says it is building a network where people and businesses can hold, move, earn, and spend digital dollars (stablecoins) through connected products.
“Plasma is building for that world: a stablecoin-native financial network where people, businesses, developers, and partners can hold, move, earn, and spend digital dollars through products connected to the same underlying system.”source · snapshot · captured 2026-09-13
Live since 18 September 2025, about 12 months.
0 of 6 promises delivered. 6 open.
Others in payments networks: Nockchain 20 of 30, Beldex 10 of 48, eCash 8 of 10, ADI 7 of 15, and 18 more.No public code repository is listed in this record.
None of the project's captured pages has changed since capture began on 13 September 2026.
Nothing further to flag from the record as it stands.
This record was drafted by a machine from captured pages and has not yet been checked by a person. Treat every line as unverified until that note changes.