Plasma TVL rises to 2 billion USD, becoming the seventh largest public chain

According to DefiLlama data, the total locked value (TVL) of Plasma, a Layer 1 blockchain designed for global stablecoin payments, has reached $2 billion, with a weekly increase of 27% and a monthly increase of over 80%, rising to become the seventh largest blockchain. One of the key driving factors for this growth is that Plasma was selected as one of the first supported networks for Tether's self-custody wallet launched on April 14, alongside Ethereum and Arbitrum.

This wallet supports USD₮, XAU₮, USA₮, and Bitcoin, allowing users to trade without holding a separate Gas token. According to CoinDesk, the driving factors behind the expansion of Plasma's TVL are not yet clear, but may be related to optimistic expectations regarding the potential approval of the U.S. CLARITY Act.