Investor demand for Plasma’s upcoming XPL tokens continues to skyrocket, with Stablecoin Infrastructure Platform currently securing $1 billion in deposits to support planned sales.
Plasma confirmed that it reached its $1 billion deposit cap in under 30 minutes on June 12, doubleping its initial $500 million target.
The company said 2,900 wallets were in the round and the median deposit was $12,000.
Additional data from Analytical Platform Sealaunch showed that the top 100 addresses represent 70% of the sediment, 58% for USDC and 40% for USDT.
Meanwhile, blockchain intelligence company Arkham Intelligence Data reports that its plasma-linked wallet currently holds around $1 billion in Stablecoins. Holdings include approximately $588 million in USDC, $395.85 million in USDT, $16.67 million in USDS, $3.39 million in USD.
Why Plasma resumed sediment
The company launched a deposit program earlier this week to measure the market’s appetite for its platform. However, the first round was quickly filled and many investors were locked out.
To address the community’s frustration with bot-driven deposits in phase 1, Plasma resumed the process with advance notice. The move aims to provide fair access to legitimate participants, particularly those who work in their online community.
It stated:
“We resumed the cap and provided better opportunities for users. This announcement was notified immediately to reduce bot setup and create more space with real participants, especially inconsistent and active participants and notifications.”
Plasma is a stubcoin-centric infrastructure platform that acts as a Bitcoin side chain. The network is compatible with Ethereum Virtual Machine (EVM) and is designed to handle fast and cost-effective transactions.
XPL sales
Despite an overwhelming billion-dollar deposit, only a small portion of it will be converted into token purchases.
The company has made it clear that these deposits are not part of the token sales. Instead, investors have secured priority access to XPL tokens once official sales begin. The final allocation depends on the individual contributions at the end of the deposit window.
Plasma plans to offer $50 million worth of XPL with a full dilution rating of $50 million, accounting for about 5% of current sediment.
According to Plasma:
“This is not a billion dollar raise. Deposits are not the sales itself, and public sales of XPL have not yet begun. All funds are bridged to the Plasma Mainnet Beta and are entirely owned by the depositors.
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