XPL Forms Falling Wedge; Big Unlock Shows Limited Sales

The Plasma (XPL) setup has drawn attention from traders watching for a potential reversal, even as the network continues digesting a major token unlock from late September. Plasma (XPL) operates as a stablecoin-focused layer-1 built for payments and transfers. Its token is used for fees, staking, validator rewards, and network security. After the September 25 unlock of roughly 1.67 billion XPL for the team members, research cited by Milk Road showed that about 70 percent of those tokens remained unmoved after 10 days. Roughly 297 million moved to exchanges or trading desks while about 184 million went to other wallets.