Crypto hedge fund Split Capital’s founder Zaheer Ebtikar announced the closure of the fund and is switching to become Chief Strategy Officer at stablecoin company Plasma. He believes the crypto hedge fund business model is no longer viable, mainly due to the impact of traditional financial institutions launching digital asset ETFs, which led to a sharp drop in demand. At the same time, crypto venture capital has also been squeezed out, and major coin prices have fallen by nearly 50%.

Gate News, April 3, according to Gate market data, as of the time of this release, XPL (Plasma) is trading at $0.12. As of the time of this report, it has increased by 11.34% in the past 24 hours, reaching a high of $0.17 and dropping to a low of $0.10. The 24-hour trading volume is $9.1528 million. Its current market cap is approximately $281 million. Plasma is a high-performance Layer 1 blockchain designed specifically for stablecoins. Plasma is committed to serving the stablecoin market that has already surpassed a total issuance of $275 billion and monthly transaction volumes in the tens of trillions of dollars. Its core advantages include: zero-fee USDT transfers, custom Gas tokens, and convenient crypto payments. At the same time, supported by outstanding throughput, it provides solid backing for global-level transaction circulation. This news does not constitute investment advice; investors should be mindful of market volatility.

Gate News reported that on March 26, privacy computing company TACEO launched its privacy solution Merces II. The solution is deployed on the Plasma testnet and built based on TACEO Network's OMap service, aiming to provide a private account system for stablecoins. When users deposit funds and conduct transactions, account balances, transfer records, and counterparty information will all be hidden. Additionally, Merces II can directly integrate with existing

This week, multiple tokens will undergo significant unlocks, including H, JUP, XPL, and others. Among them, H will unlock 105.36 million tokens on March 25, while JUP and XPL will also experience notable unlocks, with varying trading values and circulating supply percentages.

The head of the Plasma engineering team stated that Plasma One has entered the private testing phase, aimed at enhancing the usability and user experience of crypto products and building services similar to a new type of digital bank. The team plans to accelerate iteration and open up early access.

Gate News bot message, a whale has closed its $ETH long position, recording a loss of $900K after maintaining the position for 138 days. The whale continues to hold long positions in $SOL and $PUMP with 2x leverage, and $XPL with 3x leverage, currently showing an unrealized loss exceeding $5.16M.

Gate News Report, March 10th, according to Whale Alert monitoring, Tether issued an additional 50,000,000 USDT on the Plasma blockchain, worth approximately $50.01 million at current prices.

Gate News bot message, Whale 0x985f deposited 9.5 million USDC into HyperLiquid over the past 5 hours to short oil with 20x leverage. The whale's positions include 94,512 xyz:CL valued at $8.17 million and 68,974 xyz:BRENTOIL valued at $6.15 million. Additionally, the whale shorted multiple tokens

Gate News Bot Message, February 26th, according to CoinMarketCap data, as of press time, XPL (Plasma) is trading at $0.10, up 17.39% in the past 24 hours, with a high of $0.11 and a low of $0.08. The 24-hour trading volume reached $134 million. The current market cap is approximately $186 million, an increase of $27.6 million from yesterday. Plasma is a high-performance Layer 1 blockchain designed specifically for stablecoins. From the ground up, it is built with stablecoin applications in mind, offering institutional-grade security to enable near-instant, fee-free payments. The network processes over 1,000 transactions per second, with a block time of less than 1 second. The platform supports more than 25 stablecoins and offers over 200 payment methods across more than 100 countries and regions worldwide.

An investor opened a long position on XPL with 5x leverage on Hyperliquid. After 137 days of holding, despite a total investment of $670,000 and continuous margin additions, the price has not rebounded, and the loss has reached $3.46 million, awaiting a market reversal.