“The Oversubscribed Raise Follows Stablecoin Issuer Circle’s Massive Ipo Last Week, UndersCoring Investor Appetite for Stablecoin-Related Projects.”, – WRITE: www.coindesk.com
The Fundraising Cap Was Field in Five Minutes as Investors Scrambled to Earn An ALLOLOCATION FOR The TOKEN DISTRIBUTION, ACCORDING TO BLOCKCHAIN DATA FROM ARKHAM INTELLIGENCE. The Ceiling Was Lifted from $ 250 Million, Which Had Already Been Increased From A $ 50 Million Original Target Announced Just Two Weeks Ago.
Over 1,100 Wallets Participated in the Sale of Plasma’s XPL Token, with A Median Alloration of Roughly $ 35,000, The Company Said in an X Post. The Offering Was Conducted on Sonar, A Public Token Sale Platform Built by Echo, A Crypto-Focused Private Fundraising Startup Led BY Prominent Investor Cobie.
The Outsized Demand Underscores Surging Interest In Stablecoins – Cryptocurrencies PEGGED to Traditional Currencies Like The Us Dollar – and The Infrastructure that Supports. Stablecoins have become a dominant Force in Crypto, with Total Suppply Surpassing $ 250 Billion, and are Increasing for EveryDay Finans Likes Payments, Remittans and Savings.
While bitcoin
Remains the Oldst and MOST Secure Blockchain, MOST STABLECOIN ACTIVITY TODAY OCCURS ON Newer Networks Such as Ethereum, TRON, AND SOLANA. Plasma Aims to Bring Native Stablecoin Utility to Bitcoin by Building A Sidechain Fully Compatible with The Ethereum Virtual Machine (Evm), The Software Standard Unzerdes.
The Team Says The Plasma Chain Will Address Key Challenges Faced by Stablecoins on Existation Blockchains-Including High Fees and Scalacy Limits USDT
.
Plasma’s Fundraising Follows A String of Market Signals Pointing to Rising APPETITITE FOR STABLECOIN Exposure. Just Last Week, Circle (CRCL), Issuer of the $ 60 Billion USDC Stablecoin, Complied A Blockbuster Public Market Debut, with Shoes Surging Over $ 110 from A $ 31 IPO Price.
“Circle Up Another 20% at the Open and Plasma’s $ 500m Public Token Sale Sold Out in the First Block.
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