Cytoplasm is the fluid that fills cells and serves several important functions. Cytoplasm holds the internal components of cells in place and protects them from damage.Cytoplasm stores molecules used for cellular processes, as well as hosts many of these processes within the cell itself.he cytoplasm also hosts a variety of cellular processes, such as glycolysis, which is the first step in cellular respiration. Cellular respiration is how your body makes energy from food. Cell division also occurs in the cytoplasm as well as the synthesis of polypeptides (the molecules that make up proteins).