Any chain inevitably experiences the pain of 'narrative leading, data lagging' in its early stages. Plasma, although quickly attracted over 2 billion dollars in promised liquidity during the early launch of its mainnet, saw on-chain real usage data become lukewarm—TPS was only in single digits, and fee income was less than a hundred dollars. This gap indicates, on one hand, that the infrastructure is still in its early stages, and on the other hand, reflects the rigidity of 'user migration costs' in the blockchain world—no matter how much better the experience is, there must be real users who use it frequently and become accustomed to it. The case of Plasma XPL reminds us once again that the value of a chain depends not only on how beautiful its technical indicators are, but also on whether it has a clear target audience, a stable strategic rhythm, and the endurance to continue iterating even after the market frenzy. The story of Plasma is still unfolding, and when you next see someone in an unnoticed Telegram group saying 'I transferred 500 dollars home using XPL, without spending a penny on fees', that may be the most authentic footnote to this story. @Plasma #plasma $XPL

XPL

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