2026-01-21 21:20:23

Since the official launch of the Plasma mainnet on September 25, 2025, on-chain activity has been continuously rising. In just the past 24 hours, over 370,000 transactions have been processed, a scale that belongs to the realm of practical use among new chains, not just hype during the initial cold start.

Looking at these on-chain data points reveals what's really happening. The entire network has approximately 3.39 million unique addresses that have collectively generated over 142 million transactions. New addresses are constantly joining every day, indicating that the participant pool is continuously expanding.

Developers haven't been idle either; more than 510,000 smart contracts have been deployed across the chain. These figures are not just inflated claims; they represent real applications built on the chain.

From a DeFi perspective, let's analyze further. According to the latest data from DefiLlama, Plasma's total value locked (TVL) remains steady at around $3.27 billion, with stablecoins making up the majority. This indicates that the chain has truly attracted a large amount of dollar liquidity, not just a fleeting trend.

Overall, signals from user activity, fund retention, and developer participation are all positive. The core logic of Plasma is to minimize transfer and settlement costs for stablecoins, encouraging long-term on-chain fund retention rather than frequent outflows to other chains to save on transaction fees. This positioning has been effectively realized in actual operations.

XPL4.2%

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PessimisticOracle

· 2h ago

Wait, 370,000 transactions are really just hype, far behind those major public chains. 510,000 contracts sound impressive, but it depends on how many are truly active. This way of describing things feels a bit familiar; I've seen this kind of "new chain data looks impressive" story before. The locked amount built up by stablecoins—what I really want to see is genuine gas fees and user retention rates. By the way, can 3.27 billion really last long? Or is it just another short-term hype?

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LiquidityHunter

· 4h ago

In the 3.27 billion TVL, stablecoins make up the majority. The liquidity depth is sufficient, so a detailed analysis of the slippage for trading pairs is needed.

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ForkItAll

· 4h ago

370,000 transactions, is it real? This scale is even more intense than some established chains.

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CodeAuditQueen

· 4h ago

510,000 smart contracts, such scale... should go through a security audit first. Reentrancy vulnerabilities are always hidden beneath the surface of prosperity.

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SchroedingerMiner

· 4h ago

370,000 transactions? This scale definitely doesn't seem like a cold start hype, it's quite interesting. $3.27 billion in TVL locked, stablecoins are really here to stay. 510,000 contracts deployed, developers are busy, this is the visible vitality. But we still need to see more; new chain stories are often well told, but how long they can last is the real skill. User activity is one thing, but the key is whether the retention rate can hold up. I buy into the logic that stablecoins have low costs, but I'm worried it might just become a playground for capital again. The data looks good, but whether the ecosystem has enough depth still needs to be observed.

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MysteryBoxOpener

· 4h ago

Hey, Plasma really made a splash this time, with a TVL of $3.27 billion, no joke. This data looks serious; compared to those vapor chains, it's definitely more solid. Wait, 510,000 contracts? That seems a bit inflated to me. The stablecoin track is so hot; Plasma managing to grab a piece of that pie is pretty good. 370,000 transactions, is that real? It feels a bit exaggerated. This round of low-cost transfers really hits the pain point, definitely better than being cut by fees every day.

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