How big is the stablecoin sector? A market size of $250 billion and a monthly trading volume reaching trillions of dollars—these numbers are enough to tell the story. Plasma is eyeing this opportunity—by optimizing issues like high gas fees and slow transfers, it aims to carve out a share from major issuers like Tether.

It sounds very attractive, but the reality is quite tough. Major players like Solana and Tron have already secured their positions in stablecoin transfers, making it difficult for new projects to shake things up. Although XPL has practical uses in staking, security, and governance, its long token unlock cycle and market volatility make a rebound in this bear market almost impossible.

However, from a long-term perspective, this direction is still worth paying attention to. If payment demand truly explodes, XPL could become a dark horse as an infrastructure layer innovation. But for investment, you need to think carefully—it's suitable for those who hold long-term, not for chasing highs. The key is whether the ecosystem can truly take root and whether it can attract real payment traffic.