STABLE Token Surges to All‑Time High Ahead of v1.2.0 Mainnet Upgrade
February 2, 2026 – The native token of the Stable blockchain, a Layer‑1 network backed by the Bitfinex exchange, has rallied sharply in the past week, reaching a fresh all‑time high of $0.03. The surge comes as the platform prepares to launch its v1.2.0 mainnet upgrade on Wednesday, February 4.
Price Action and Valuation
- Weekly performance: STABLE has appreciated roughly 43 % since the start of the month, breaking its previous peak on January 29 and again on February 2.
- Market metrics: The rally has lifted the token’s fully‑diluted valuation (FDV) past $3 billion, while its market capitalization now sits around $540 million.
- Relative standing: By native‑token valuation, Stable currently ranks as the top “stable‑chain” in the space.
What the v1.2.0 Upgrade Brings
The upcoming release is billed as a production‑readiness push, targeting three core areas:
| Area | Expected improvements |
|---|---|
| Token usability | Transition to USDT0 – a native, cross‑chain version of USDT – as the primary gas token, replacing the wrapped gUSDT that launched with the chain. |
| Developer ergonomics | A set of Solidity‑level bug fixes, enhanced tooling for staking and undelegation tracking, and overall smoother contract interaction. |
| Chain observability | Better telemetry and monitoring capabilities, aimed at simplifying node operation and network diagnostics. |
These upgrades are designed to lower barriers for developers and improve the end‑user experience, potentially widening the ecosystem’s reach beyond its current niche.
Competitive Landscape
Stable’s nearest rival in the stable‑coin‑focused blockchain arena is Plasma. Despite Plasma’s larger native stable‑coin market cap—approximately $1.8 billion versus Stable’s $29 million—the token economics favor Stable:
- Plasma token (XPL): FDV of about $1 billion and a market cap near $224 million.
- Stable token (STABLE): FDV exceeding $3 billion and market cap around $540 million.
The disparity highlights a trade‑off between token valuation and the scale of on‑chain stablecoin liquidity. Stable’s higher native‑token valuation suggests strong speculative interest, while Plasma’s larger stablecoin pool indicates deeper DeFi activity on its network.
Analyst Perspective
The price rally appears to be a classic “upgrade‑driven” speculative run, a pattern observed across numerous blockchain projects. Anticipation of the USDT0 gas token could unlock new use‑cases, particularly for applications that require native, low‑cost transaction fees. Moreover, the Solidity patches and staking improvements may attract developers who previously hesitated due to tooling gaps.
However, the broader market context must be considered. Stable’s native‑token market cap still lags behind more established ecosystems, and its stablecoin liquidity remains modest. For the token to sustain its recent gains, the network will need to demonstrate tangible on‑chain activity post‑upgrade—particularly in DeFi protocols that can leverage the new gas model.
Key Takeaways
- Price breakout: STABLE is up ~43 % this week, hitting a historic $0.03 price level.
- Upgrade focus: v1.2.0 aims to improve token usability (USDT0 gas), developer experience, and network observability.
- Valuation edge: With an FDV over $3 billion, Stable leads the stable‑chain sector by native‑token valuation.
- Competitive context: Plasma holds a larger stablecoin market cap, but its token valuation is significantly lower than Stable’s.
- Future outlook: Sustained growth will depend on real‑world adoption of the USDT0 gas token and increased DeFi activity on the chain after the upgrade.
The upgrade’s success could cement Stable’s position as the go‑to platform for stablecoin‑centric applications, but the market will be watching closely to see whether the token’s speculative surge translates into lasting ecosystem growth.
Source: https://thedefiant.io/news/blockchains/stable-hits-all-time-high-ahead-of-mainnet-upgrade
