Stargate has set a new benchmark for cross-chain liquidity movement, processing over $3 billion worth of transfers and swaps in a single day, according to a Stargate Finance tweet. Acting as the official bridge for Plasma’s much-anticipated mainnet launch, Stargate became the preferred route for users moving funds to the new network. The surge underscores Stargate’s position as a core infrastructure player in the DeFi space, powering seamless asset migration at scale.

Plasma Launch Draws Billions in Deposits

Plasma, a new blockchain developed by Bitfinex’s sister firm, has quickly established itself as a major DeFi hub. According to DefiLlama data, users deposited over $4 billion into protocols on Plasma within the first 24 hours of its launch, placing it among the top blockchains by total value locked.

Plasma’s strategy relied heavily on incentives, with users earning XPL tokens by locking assets in lending vaults and partner protocols. River, Plasma’s pseudonymous DeFi lead, described the launch response as stronger than anticipated, noting that the network had prioritized offering the lowest USDT borrow rates in the market.

Plasma’s integrations with major Ethereum DeFi protocols like Aave, Veda, and Fluid further boosted adoption, while its zero-fee USDT transfers helped attract liquidity from users seeking cost-effective stablecoin transactions.

Also read: How to Bridge to Plasma

XPL Token Trading Frenzy

The launch also ignited massive demand for XPL, Plasma’s native token. Prices climbed sharply, with XPL jumping from around $0.83 to over $1.20 within a day and trading volumes spiking by more than 18,000%. The token’s fully diluted valuation is now near $12 billion, reflecting strong market appetite for exposure to the network.

Binance, Tether, and Chainlink have all played a role in supporting Plasma’s ecosystem. Binance listed Plasma USDT through Aave’s lending system, giving the network instant exposure to millions of users. Tether integrated its USDT0 and XAUT0 stablecoins, and Chainlink brought its CCIP and oracle services to Plasma, providing reliable price data and infrastructure for developers.

Aster DEX Faces Pressure From Trading Volumes

The trading frenzy was felt across decentralized exchanges, particularly on Aster DEX. A major trading glitch briefly sent XPL’s price to $2 on the platform, well above the levels seen on centralized exchanges like Binance. The error was attributed to a system or oracle malfunction and highlighted the risks traders face on decentralized perpetual futures markets.

Even with the hiccup, Aster DEX continues to dominate perpetual contract trading. Over the past week, its volumes exceeded $100 billion, surpassing competitors like Hyperliquid and Lighter. Aster also generated more than $39 million in fees during the same period, ranking just below Tether and Circle in network-wide protocol revenues.

Related read: Aster Tops Hyperliquid by Daily Volume in Record Surge

Stargate’s Role as a Liquidity Gateway

For Stargate, the $3 billion processed in a single day is not just a milestone but a sign of its importance in the evolving DeFi infrastructure. As users seek efficient and reliable ways to bridge assets between ecosystems, platforms like Stargate provide the critical pathways that make these massive liquidity migrations possible.

With more blockchains competing for stablecoin flows and yield-seeking capital, Stargate’s ability to facilitate fast and secure transfers positions it as a key player in the next wave of DeFi growth. The Plasma launch offered a glimpse into just how crucial this bridging infrastructure has become.