Plasma (XPL) rallied 24% as a massive token unlock approached. Around 1.76 billion XPL, valued at approximately $160 million and representing 63.2% of the total circulating supply, was set to be unlocked. The Plasma team also moved 300 million XPL, worth roughly $33.07 million, to an unknown new wallet, adding further supply pressure. Derivatives markets showed strong activity with trading volume rising 182.78% to $744.47 million and Open Interest increasing 52.16% to $302.60 million, with long positions at 61.47% versus 38.53% shorts. The price reached approximately $0.11904, but pullback risk remains due to liquidity clusters concentrated between $0.105 and $0.100 below the current price.
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