Talking about whether there are many Plasma users and how lively the chain is, I find it quite interesting: it’s not like some chains where messages fly everywhere every day, lively like a never-ending party. Instead, it feels like a well-established community store that does good business but doesn't advertise much. When you pass by, it seems ordinary, but a closer look at the flow of people and transactions reveals that it has quietly gathered a considerable scale with an almost "smart silence".

According to some industry observers' dashboard data, within a relatively short time since the mainnet launch of @Plasma , the total value locked on the chain has quietly climbed to the level of several billion dollars, and the number of active wallet addresses is approaching one million. These numbers may not be earth-shattering within the circle, but what truly caught my attention is the "quality" of its transactions. Data shows that in its millions of daily transactions, over 90% are stablecoin transfers. This ratio speaks volumes—this is not about playing complex financial games or the frenzy of NFT minting, but rather a series of real, tangible "value movers" that may be for payment, settlement, or circulation.

Therefore, when looking at Plasma's on-chain status, you cannot view it through the lens of DeFi frenzy chains or meme coin speculation chains. Its liveliness is not in the screams of forums, but in the silent flow of stablecoins. This makes me feel more solid. It seems to attract not tourists looking to "join the fun", but real users who have a demand for stablecoins—possibly small merchants needing low-cost cross-border transfers or small institutions seeking efficient settlement. Their actions collectively form a kind of "silent consensus": this chain indeed provides usable value in the “stablecoin payment” it claims to excel at.

Of course, the influx of huge assets (like the several billion dollars in the early stage) also comes with questions: how much of this is short-term liquidity seeking high rewards? When the incentives recede, how much will settle into genuine “regulars” for real use? This is something it needs to prove over time. But in any case, the current on-chain data has already sketched a clear early picture for it: a chain with a clear goal, focused functionality, and that has attracted a considerable amount of genuine demand on its dedicated track. #plasma $XPL