Plasma's recent XPL token pre-sale attracted attention, gathering $1 billion in deposits relatively swiftly, primarily from the top 100 wallets.
Main Events of Plasma Pre-Sale
Plasma, a blockchain initiative, conducted a pre-sale for XPL tokens, receiving $1 billion in deposits. 70% of these funds are held by the top 100 wallets, indicating concentrated interest in the project. The sale is limited to just $50 million against a $500 million overall valuation. The event took place on the Sonar platform by Echo, confirming participation from over 1,100 wallets with a median deposit size of around $35,000.
Deposit Concentration and Market Influence
The pre-sale saw $1 billion in stablecoins deposited in under 40 minutes. This indicates intense interest and potential influence on the XPL token market. The heavy investments into stablecoins underscore their importance in blockchain finance and hint at the competitive nature of oversubscribed token sales. Concentrated pre-sales may attract regulatory attention, suggesting potential changes in regulation for such events.
Plasma Team Comments on Pre-Sale
The Plasma team commented: 'This is not a $1 billion raise. Deposits are not the sale itself, and the XPL public sale hasn’t started yet. All funds will be bridged to Plasma mainnet beta and remain fully owned by depositors. Depositors earn the right to participate in the sale based on their final units at the time of the lock-up.' — Plasma Team.
This pre-sale illustrates the potential for significant market fluctuations, emphasizing the need for regulated frameworks as the blockchain landscape evolves.
