The stablecoin public chain XPL has fallen so much, can it be bought?

Compared to the concept of stablecoin public chains, XPL has the best practical effect so far, ranking second in the AAVE protocol, and should currently be considered a leader in this field.

In terms of TVL of public chains, Plasma's TVL has surpassed popular public chains such as Arbitrum, Hyperliquid L1, Avalanche, SUI, and Polygon.

The current circulating market value of $XPL is 568 million, with a total market value of 3 billion.

Find a few dedicated public chains/new public chains to compare.
$APT, the leader in move programming, has a circulating market cap of 2.356 billion and a total market cap of 3.842 billion.
$ALEO, a leading privacy public chain, circulating market cap of 148 million, total market cap of 445 million.
$TIA, a leading modular public blockchain, with a circulating market cap of 455 million and a total market cap of 1.04 billion.

In my experience, these new public chain tokens generally have a very high valuation when they are listed; then they go through a long period of decline and adjustment.

Of course, as long as the narrative he represents is still being hyped, the coin price will have the momentum to rebound, even a strong rebound.

However, the success of this dedicated public chain ultimately depends on its implementation, and most end up as "king projects"!

So, this type of coin can still be speculated on in the short term, but don't have faith!