XPL Open Interest Surges to Record High

Plasma’s XPL token reached $1.826 billion in open contract value on September 28, 2025, surpassing BNB and indicating a surge in derivatives activity, especially on Binance.

This surge reflects heightened market interest and speculative activity in Plasma’s ecosystem, potentially impacting broader crypto market dynamics and investor strategies globally.

XPL’s Rise in Open Interest

XPL’s rise in derivatives trading set a record, reaching $1.826 billion in open interest. The reports from Coinglass indicate significant demand, primarily on platforms like Binance and Bybit.

Binance leads with $293 million in holdings, confirming its role as a key player in XPL’s market rise. Bybit follows with $177 million, reflecting substantial interest across major exchanges.

Community and industry reactions are yet to crystallize in specific leadership comments. However, the investment surge suggests potential future statements. Analysts suggest that “XPL has established the breakout and has completed a conventional triple bottom strategy,” according to Karman Asghar, Analyst, X. “Target of $2 if momentum persists.” Analyst insights suggest that the high level of institutional engagement and derivative-driven speculation could influence future market structures and competitive dynamics.

Market Dynamics

Did you know? Plasma’s XPL token has shown a remarkable 721.64% increase over the past 90 days.

Plasma’s XPL token currently trades at $1.56 with a market cap of approximately $2.81 billion, according to CoinMarketCap. Its 24-hour trading volume of over $3.23 billion reflects a 14.99% decrease, although the token’s price has surged by 9.91% in the same timeframe. XPL shows significant gains with a 721.64% increase over the past 90 days.

Financial forecasts suggest that XPL could continue gaining traction as speculative interest remains high and trading volumes indicate active market participation. Its future market presence may echo historical trends of previously successful layer-1 rollouts.