Team and investor unlocks now arrive every month.
XPL is the gas coin of Plasma, a chain built for stablecoins: 4.53B of its 10B coins circulate, about 45%.
Sell pressure. Unlocks are the only new supply: 1.93B XPL in 90 days, mostly the 1.67B team and investor cliff on Sep 25 2026. The next 90 days add 683.3M more.
Buy pressure. Almost nothing leaves: the fee burn is a few XPL and there is no buyback.
Net. Net, supply grew 42.65% in 90 days and should grow about 15.07% next.
No new XPL is minted today. Plasma's plan pays validators 5% a year, falling to 3%, but only once outside validators and delegation go live, and that has not happened. On the chain, the block producer receives only the tips users pay, nothing more. The Oct 1 2026 validator-handoff design is a step toward that launch, with no date set.
All 10B XPL were minted at launch; locked shares open on the 25th of each month. In this window: three ecosystem tranches of 88.9M (Jul 25, Aug 25, Sep 25) and the one-year cliff on Sep 25 2026, when a third of the team's 2.5B and a third of the investors' 2.5B opened — 1.67B at once. That is 1,933.3M XPL. From Oct 25 2026 the team and investors add 69.4M each per month on top of the ecosystem's 88.9M: 227.8M a month, 683.3M in the next 90 days. The Jul 28 2026 release for US sale buyers adds nothing new; those coins were already counted as circulating.
Every locked XPL sits on the published calendar, so nothing is unscheduled. Still locked: 1.67B team, 1.67B investor and 2.13B ecosystem coins, held in custody wallets with no lock contract. On Sep 25 the two big allocation wallets sent out 1.45B and 1.29B XPL, more than the cliff, because coins were moved into new per-holder wallets. The ecosystem wallet holds 2.24B. Plasma One card locks are user coins inside the float.
No estate, trustee or court is paying XPL out. The only long locks are the team, investor and ecosystem allocations above, which open on the monthly calendar.
No contract, foundation or treasury buys XPL back. Chain fees are paid in XPL; the base part is burned and the tip goes to the block producer.
The base fee on every Plasma transaction is burned, but the base fee is set almost at zero, so very little is destroyed. Summed block by block over all 7.78M blocks of the window it came to about 15.4 XPL, 12.5 of them in one busy stretch on Oct 1 2026. That is far too small to show, so the row reads 0.
No announcement or on-chain flow this window shows Plasma or its foundation buying XPL on the market.
Plasma One card holders can lock XPL for 12 months to reach a higher card tier, and the Aurora perks layer launched on Sep 25 2026 pushes more people to do it. The locked total is not published, and these coins still count as circulating, so a lock takes nothing out of the float.
Two sides: how much people want XPL right now, and how much buying could come later.
This part is based on social media. 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:
On Oct 8 2026 XPL dropped about 4.5% in a market-wide selloff that pulled most coins down. It is now near $0.084, about 13% below the $0.096 it traded at on Oct 5 2026. People ask if the drop is about Plasma itself, and if XPL will hold above its 30-day low of about $0.078.
Checked Oct 9 2026
Supply and demand point to a negative long-run signal for Plasma (Oct 13 2026, score 2/10). Plasma adds +15.07% new supply in 90 days, and demand reads weak (2/5). Plasma's price drivers: 1 ▲ price up, 1 ▼ price down.
Yes, it looks that way. Plasma adds +15.07% new supply in the next 90 days and +60.29% over a year (Oct 10 2026). Demand reads weak at 2/5, and Aave, which holds most of Plasma's app money, keeps shrinking. That leaves Plasma's long-run signal at negative, by supply and demand.
We would read Plasma differently if new supply keeps arriving (+15.07% in 90 days), or demand falls from weak, or Aave on Plasma keeps pointing down. Until then Plasma's signal stays negative.
Plasma scores 2/10 on our framework (Oct 13 2026): supply 0/5 (extreme), demand 2/5. Over the next year Plasma's supply changes +60.29%. The long-run signal is negative.
Supply and demand favor Plasma most when little new supply is coming, demand is strong and the price drivers point up. Right now Plasma has +15.07% new supply in 90 days (extreme), demand weak (2/5), drivers 1 ▲ / 1 ▼.
Plasma's price drivers today: 1 pointing up, 1 pointing down, out of 2. ▲ Stablecoins on Plasma: Stablecoins on Plasma sit far below their $6B of Sep 2025 ▼ Aave on Plasma: Aave holds most of Plasma's app money, and it keeps shrinking
Plasma: negative signal, 2/10 · Bitcoin: positive signal, 8.5/10 (Oct 13 2026). By supply and demand, Plasma reads weaker than Bitcoin today.
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, half each: supply and demand. Fewer new coins mean less selling pressure. A meme coin scores 1.5 at most on supply: its team got its coins for free, so no new supply does not make it safe. We also show each coin's age, with a warning when it is younger than 1 year. Demand looks at how much people want the coin now and how much buying could come later. Price Drivers (Beta) are the 2 or 3 things that can move one coin's price that supply and demand miss; they have no score. XPL supply grows +15.07% 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.
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