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Plasma’s $1B Deposit Window Fills in 30 Minutes as Bitcoin Stablecoin Hype Heats Up
Plasma just hit another milestone — its freshly raised $1 billion deposit cap filled in under 30 minutes on Thursday, proving once again that the crypto community is hungry for Bitcoin-native stablecoin solutions.
This new cap, which doubled the previous $500 million limit, came after users complained about bots and sellouts during earlier rounds. The team kept the announcement low-key to give its Discord and active community members a real shot at participating.
But don’t get it twisted — this wasn’t a token sale. Deposits are still 100% user-owned and are being bridged to Plasma’s mainnet beta. What users are locking in is the right to participate in the upcoming $50 million public sale of XPL, the network’s native token. The token sale will be priced at a $500 million FDV.
Plasma has quickly become one of the most-watched Bitcoin-aligned projects, offering an EVM-compatible sidechain that lets users move stablecoins like USDT with zero gas fees, all while anchored to Bitcoin’s security model.
If early demand is any indication, it’s clear: people want a stablecoin network that doesn’t live on Ethereum — and Plasma may be leading that charge.
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