Citing Bijié Wǎng, Plasma (XPL) has seen a decline in price and activity following a recent airdrop-driven surge. The token's short-term structure has been weakened by an upcoming unlock event, reduced on-chain activity, and a sharp drop in stablecoin TVL. In November, decentralized exchange (DEX) volume, daily active users, and transaction counts have all declined, aligning with bearish technical patterns. Despite a broader market uptrend, XPL dropped over 11% in recent hours, with Starknet (STRK) also suffering double-digit losses during the same period. The initial price rise was fueled by an airdrop of approximately 10,000 XPL to early users. As prices cool, on-chain activity has also slowed, further weakening the token's momentum.
Plasma [XPL] Momentum Slows After Airdrop Surge
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