Institutional-Focused Rewrite (Clean, Strategic Tone)
Plasma Reaches $1B Deposit Cap in 30 Minutes, Highlights Institutional Appetite for Bitcoin-Based Stablecoin Infrastructure
Plasma, the blockchain protocol aiming to bring stablecoin functionality to Bitcoin via an EVM-compatible sidechain, raised its deposit ceiling to $1 billion early Thursday — a cap that was met in just 30 minutes.
This doubling of the previous $500 million limit comes after intense demand and community concerns over automated bot participation. Plasma said the increase was announced on short notice to favor engaged users and reduce opportunistic front-running.
Deposits are not part of the actual token sale. Instead, participants locking funds now will be eligible for the upcoming $50 million XPL token offering, based on the volume of units they’ve committed. The sale is expected to take place at a $500 million fully diluted valuation.
Earlier this week, the initial $500 million cap was filled within five minutes, signaling outsized demand from both retail and institutional players looking for exposure to Bitcoin-aligned DeFi infrastructure.
Plasma’s architecture is designed to support zero-gas stablecoin transactions anchored to Bitcoin’s base layer. USDT will be the first stablecoin deployed, with more integrations planned for the near future.
