The total value locked (TVL) in the stablecoin-focused blockchain Plasma has plummeted from its October 9 peak of $6.358 billion to $2.809 billion, according to DeFiLlama data. This represents a 55.8% decline. Additionally, the market capitalization of stablecoins on Plasma has decreased by 47.6% over the past week, now standing at $1.583 billion.