Plasma Meme Coin Hits $60M Amid Stablecoin Network Boom

The Trillions token, which references a meme at the core of Plasma’s fundamental thesis, represents an ironic twist for a network optimized for stablecoin transactions like gasless USDT transfers. The meme originated from White House AI and Crypto Czar David Sacks’ comments that stablecoins could create “trillions of dollars of demand for U.S. treasuries” due to tokens purchasing treasuries for their reserves. When Plasma simply reposted Sacks’ “trillions” clip in February 2025, it went viral despite the network’s small following at the time, creating an internal cultural phenomenon where employees began using “trillions” as a sign-off on social media posts.

According to a Plasma representative who spoke with Decrypt before the network hit mainnet, the meme took off both internally and externally in February 2025, though the project had referenced the concept as early as December 2024. The meme later evolved to include “pre-trillions,” nodding to the “pre-rich” meme that had taken over the broader crypto community. This organic growth culminated when users celebrating their XPL airdrop during Plasma’s mainnet beta launch adopted the “trillions” kicker, creating perfect conditions for the meme coin’s creation.

Despite Plasma’s positioning as a layer-1 network optimized for stablecoin transactions, its permissionless nature means anyone can build on it—and crypto degens have flocked to do exactly that. The Trillions token was created the same day Plasma entered mainnet beta last week, initially bubbling below a $10 million market cap before exploding to $60 million on Sunday, according to DEX Screener data. It has since plunged to an $18 million market cap, demonstrating the extreme volatility characteristic of meme coins.

Trillions isn’t the only meme coin attracting attention on the nascent network. Other Plasma meme coins like Bankless, dog-themed coin Luna, and a Pepe clone have also soared to market caps in the millions. Most appear to be created on the multi-chain launchpad DyorSwap, indicating coordinated deployment across the emerging ecosystem. This activity is particularly notable given that meme coin trading on established platforms like Solana has hit six-month lows, suggesting traders are seeking new venues for highly leveraged perp futures bets and degenerate trades.

Plasma has maintained distance from the meme coin phenomenon, declining to comment for this story and emphasizing that the project does not endorse meme coins on the chain. This stance creates an interesting tension between the network’s serious financial aspirations and the speculative activity flourishing on its infrastructure.

Behind the meme coin buzz lies substantial technological achievement. Plasma’s mainnet beta launch attracted $5.5 billion in total value locked and propelled its XPL token to a $2.3 billion market cap. According to DefiLlama, within less than a week of its debut, Plasma became the fifth-largest network for stablecoins, surpassing established platforms like Hyperliquid, Aptos, and Base. This rapid ascent demonstrates significant market confidence in Plasma’s stablecoin-optimized architecture.

The network’s success comes amid growing recognition of stablecoins’ potential scale. With the total stablecoin market cap currently at $297 billion according to DefiLlama, achieving a trillion-dollar valuation would require a 236% increase—a target that aligns with both Plasma’s ambitions and the Trillions meme coin’s namesake. Jokes aside, Plasma genuinely believes the stablecoin industry will grow to be worth trillions of dollars and hopes to host a sizable chunk of that growth, positioning the meme as both cultural commentary and serious prediction.

The simultaneous growth of legitimate infrastructure and speculative assets on Plasma reflects a broader pattern in crypto development, where serious financial innovation often coexists with—and sometimes even fuels—high-risk trading activity. As Plasma continues developing its stablecoin optimization features while meme coins fluctuate on its network, the platform embodies the complex relationship between foundational blockchain infrastructure and the speculative markets it enables.