Big monthly unlocks keep adding XPL until 2028.
XPL is the coin of Plasma, a chain built for stablecoin payments. 10B XPL exist and 4.76B are unlocked.
Sell pressure. Unlocks freed 2.07B XPL in 90 days, led by the 1.67B team and investor cliff on Sep 25 2026. Staking rewards are not switched on yet.
Buy pressure. No buyback, and the fee burn is too small to show.
Net. Net, supply grew about 43.5% in 90 days; about 14.4% more comes next.
Plasma plans to pay stakers new XPL at 5% a year, falling to 3% over time, but only once outside validators and staking delegation go live. Neither is live yet, and on-chain the block producer earns only the tips users pay, so no new XPL was created in these 90 days.
2.07B XPL left the locked allocations between Jul 31 and Oct 29 2026. The big one was Sep 25 2026, when the one-year cliff freed 1.67B XPL for the team and investors. The ecosystem fund adds 88.89M every month, and since Oct 25 2026 the team and investors add 138.89M a month too. That makes 227.78M XPL every month until September 2028, or 683.33M in the next 90 days.
5.24B XPL is still locked: 2.04B for the ecosystem fund and 1.6B each for the team and investors. All of it follows the monthly schedule above. The five largest known allocation wallets hold 2.18B, 1.04B, 556M, 191M and 122M XPL, and the team moved 300M XPL to a new wallet on the cliff day. Coins they hand out after release are already counted, so they add no new supply.
No bankruptcy estate or court-held XPL is waiting to be released.
Plasma has not announced any XPL buyback, and no contract or treasury buys XPL back.
The base fee of every transaction is destroyed, but it usually sits at 8 wei, a tiny fraction of one XPL, and plain USDT transfers cost users nothing. Across all 7.76M blocks in the window the burn came to about 15 XPL, most of it in a few busy minutes on Oct 1 2026. About 22K XPL that users sent to dead addresses is not part of this burn.
The Foundation pays out XPL as card cashback and growth rewards; it does not buy XPL on the market.
Since Sep 26 2026 Plasma One card users can lock XPL for 12 months to reach a higher card tier. Those coins still count as circulating, so the lock takes nothing out of the count.
Two sides: how much people want XPL right now, and how much buying could come later.
It shows how hot XPL is right now. A better rank means more people are talking about it.
Today, people are talking about XPL for one reason:
XPL dropped from about $0.081 to about $0.072 on Nov 1 2026, as many traders who had bet on a rise with borrowed money were forced out. That wiped out the bounce of Oct 30 2026, when XPL had jumped about 12%. People ask whether the selling is over, or if XPL will make new lows.
Checked Nov 1 2026
As of Oct 28 2026, Plasma (XPL) supply moves +14.35% in 90 days and +57.41% in a year, so XPL is inflationary. New XPL outweighs what is burned or bought back.
Plasma (XPL) supply grows +57.41% over the next 12 months and +14.35% over the next 90 days (checked Oct 28 2026). That puts XPL #7 of 100 coins we track for new supply (#1 = the most new supply).
The next Plasma (XPL) unlock we track is on Nov 25 2026: about 228M XPL, 4.78% of the XPL in circulation (Monthly unlock: ecosystem, team and investors). Checked Oct 28 2026.
Not in a way that removes XPL today: nothing takes XPL off the market over the next 90 days (checked Oct 28 2026). Nothing buys XPL back. The base-fee burn removed only about 15 XPL in 90 days, most of it in a few busy minutes on Oct 1 2026, because the base fee is near zero and USDT transfers are free.
In our count, about 683M new XPL reaches the market over the next 90 days (checked Oct 28 2026). How it works: Unlocks freed 2.07B XPL in 90 days: the Sep 25 2026 one-year cliff gave the team and investors 1.67B XPL, and the ecosystem fund added 88.89M each month. Since Oct 25 2026, 227.78M XPL unlocks on the 25th of every month until Sep 2028. Staking rewards are not live yet.
Plasma (XPL) has about 4.76B coins in circulation as of Oct 28 2026; the next 90 days change that by +14.35% (+57.41% over a year).
Over the next 90 days (checked Oct 28 2026): XPL +14.35%, VIRTUAL +0.04%, SPX 0.00%, BSV +0.20%. XPL has the most new supply of these 4 coins.
Every answer here applies basic economic theory — the law of supply and demand — to this coin's data. It is not financial advice. How we read every coin →
We look at two things: supply and demand. Fewer new coins mean less selling pressure. We also show each coin's age, with a warning when it is younger than 1 year. Demand shows how much people want the coin. Price Drivers (Beta) are the 2 or 3 things that can move one coin's price that supply and demand miss. XPL supply grows +14.35% in the next 90 days, so it shows in red: more XPL reaches the market than is removed. Zero or falling supply is always green, any growth is red.
One email before each big supply event, and the day our verdict changes. Nothing else. You can watch 2 coins for free.
Related supply research: VIRTUAL +0.04% · SPX 0.00% · BSV +0.20% · All crypto inflation rates (109 coins) → · Full XPL supply report → · Embed this coin
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