Investors have denounced market makers WinterMute, Ethereum Layer 2 Blast and early team members for the oddly disappointing launch of Plasma’s XPL tokens.
Despite trading volumes in billions, XPL has already fallen 40% below its debut since last week. Plasma co-founder Paul Pant is trying to expose early unlocking and other claims of conflict of interest.
“We’ve seen a lot of rumors circulating since the launch of XPL,” he writes as claims that the team has repeatedly dumped 800 million tokens, abandoned lag users, adjusted sales through Winter Mute, and repeated explosive disappointments, resulting in millions of impressions in the social media.
According to the Panto at 5:11pm yesterday, Plasma Team Members in New York Time XPL was not on sale.
He also claims that Plasma does not contract WinterMute for any service and employs only three of the 50 team members with work experience with BLAST or its predecessor blur.
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This official clarification counters many allegations that XPL tokens from Plasma’s team wallets have become WinterMute deposit addresses in centralized exchanges such as Binance and Bybit.
Plasma’s XPL is down $1.3 billion from its peak
WinterMute supports XPL’s over-the-counter transactions, but that doesn’t necessarily mean that Plasma has signed up for the service.
Plasma sold $373 million worth of XPL in a 7x oversubscribe token sale. Market capitalization of tokens It peaked above $3 billion On September 27, we rebounded 42% of these profits as of issuance time.
Many investors have acquired or lost their assets in XPL as they leveraged their trading through permanent futures (“Perps”) on exchanges such as Binance, Bybit, OKX, Kucoin, Hyperliquid and Aster.
