A DWF Labs report says more than 80% of tokens launched in 2025 are trading below their TGE price, while crypto IPO fundraising jumped to over $14.6 billion and M&A hit a five-year high.

Tokenomist data shows more than $317 million in token unlocks scheduled from February 23 to March 2, with major one-time releases led by SUI, JUP, EIGEN and others, alongside daily linear distributions for WLD, DOGE and more.

Bitcoin stayed above $63,000 on Friday while AXION, Velvet and ESPORTS surged over 100%. Major coins also edged higher, with ETH climbing 1.8%.

Plasma's native token XPL jumped roughly 30% on June 12 as traders positioned ahead of the upcoming Plasma One card tier launch. Trading volume surged 232% and open interest rose 51.8%. The card tiers are expected to require users to hold or lock XPL for better rewards.

Token Unlocks data shows a batch of sizable token unlocks scheduled for next week, led by LayerZero’s ZRO, KAITO and Humanity Protocol’s H. According to the data, LayerZero (ZRO) is set to unlock about 25.71 million tokens at 7:00 p.m. Beijing time on July 20, equal to roughly 4.6% of its circulating supply and worth about $20.9 million. KAITO will follow at 8:00 p.m. Beijing time the same day with about 17.6 million tokens, or 4.3% of circulating supply, valued at about $16 million. Humanity Protocol (H) is scheduled to unlock about 266 million tokens at 8:00 a.m. Beijing time on July 25, representing around 8.6% of circulating supply and worth about $15.5 million. The list also includes Plasma (XPL), SoSoValue (SOSO), aPriori (APR), SOON, MBG By Multibank Group (MBG), and Undeads Games (UDS), with unlock values ranging from about $2.4 million to $7.3 million.

Plasma One is being positioned less as a standalone stablecoin payment tool and more as a global stablecoin account product built around spending, transfers, yield, and tiered membership. According to information cited from Plasma’s website and documentation, the product combines a Visa card issued by Rain, account services supported by Bridge, zero-fee USDT transfers through Plasma routing, and an Earn vault tied to Aave’s USDT0 market. The structure is designed to let users hold dollar stablecoin balances, spend them, move funds across borders, and earn yield from the same interface. A central part of the model is XPL. Cashback is paid in XPL, membership upgrades can require locking XPL, and the token also serves as the native asset of the Plasma blockchain. Plasma One currently shows three membership tiers — Lite, Core, and Platinum — with different cashback rates, referral rewards, virtual card allocations, AI subscription perks, and travel benefits. Core can be unlocked through a $199 annual subscription or by locking 20,000 XPL for 12 months, while Platinum requires locking 100,000 XPL for 12 months. At the network layer, Plasma describes itself as a payments-focused Layer 1 for stablecoins, with a 1-second block time, 3-second deterministic finality, zero network transfer fees, EVM compatibility, and a Fast HotStuff-based consensus design. In WuBlockchain’s framing, Plasma One is the flagship account product that turns those network capabilities into consumer-facing financial use cases.

A wave of token unlocks is scheduled for next week, with ZRO, H, and XPL leading by value and supply impact. Investors are likely to watch whether the added circulating supply affects short-term price action and market sentiment.

CryptoComLearn reports that this week over $230 million worth of tokens will be unlocked, including cliff unlocks over $5M for H, JUP, PARTI, XPL, SOSO, and daily linear unlocks over $1M for RAIN, SOL, CC, TRUMP, WLD, and DOGE, posing significant selling pressure.