{"id":43993,"date":"2025-06-09T19:30:16","date_gmt":"2025-06-09T16:30:16","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=43993"},"modified":"2025-06-09T18:49:16","modified_gmt":"2025-06-09T15:49:16","slug":"plasma-raises-500-million-in-stablecoins-within-one-hour","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/plasma-raises-500-million-in-stablecoins-within-one-hour\/","title":{"rendered":"Plasma Raises $500 Million in Stablecoins Within One Hour"},"content":{"rendered":"<p data-start=\"2798\" data-end=\"3110\">Sometimes, speed tells more than size in crypto. Raising <strong data-start=\"2855\" data-end=\"2871\">$500 million<\/strong> in stablecoins in under an hour isn\u2019t just impressive\u2014it\u2019s a clear sign of growing institutional interest in the space. On June 9, blockchain project <strong data-start=\"3022\" data-end=\"3032\">Plasma<\/strong> opened its stablecoin vault for deposits, and it closed before the hour mark.<\/p>\n<p data-start=\"3112\" data-end=\"3505\">At 9:00 a.m. ET, <strong data-start=\"3129\" data-end=\"3139\">Plasma<\/strong> launched its raise through the ICO platform <strong data-start=\"3184\" data-end=\"3193\">Sonar<\/strong>, allowing users to deposit stablecoins in exchange for the right to purchase its native token, XPL. By 9:48 a.m., the raise was complete, far surpassing the initial goal of $50 million, which represented 10% of XPL&#8217;s total supply. More than 1,100 wallets participated, each averaging around $35,000 in deposits.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/plasma-raises-500-million-in-stablecoins-within-one-hour\/#First_ICO_on_Sonar_Ends_in_Massive_Success\" title=\"First ICO on Sonar Ends in Massive Success\">First ICO on Sonar Ends in Massive Success<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/plasma-raises-500-million-in-stablecoins-within-one-hour\/#Tether_Transaction_Fees_Plasma_Aims_for_Zero\" title=\"Tether Transaction Fees? Plasma Aims for Zero\">Tether Transaction Fees? Plasma Aims for Zero<\/a><\/li><\/ul><\/nav><\/div>\n<h2 data-start=\"3512\" data-end=\"3562\"><span class=\"ez-toc-section\" id=\"First_ICO_on_Sonar_Ends_in_Massive_Success\"><\/span>First ICO on Sonar Ends in Massive Success<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p data-start=\"3564\" data-end=\"3875\">This fundraising event marks the first official project launch on <strong data-start=\"3630\" data-end=\"3639\">Sonar<\/strong>, a new ICO platform built by <strong data-start=\"3669\" data-end=\"3677\">Echo<\/strong>, the angel investment initiative created by crypto investor Cobie. <strong data-start=\"3745\" data-end=\"3755\">Plasma<\/strong>\u2019s launch through Sonar has set a high bar, showing that interest in stablecoin-based ecosystems is at an all-time high.<\/p>\n<hr \/>\n<p data-start=\"3877\" data-end=\"4048\"><em>You Might Be Interested In: <span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"https:\/\/coinengineer.net\/blog\/elon-musk-talks-about-the-name-of-a-new-memecoin\/\">Elon Musk Talks About the Name of a New Memecoin!<\/a><\/span><\/em><\/p>\n<hr \/>\n<p data-start=\"3877\" data-end=\"4048\">According to data from <strong data-start=\"3900\" data-end=\"3910\">Arkham<\/strong>, the Plasma vault now holds $345 million in <strong data-start=\"3955\" data-end=\"3963\">USDC<\/strong>, $146.1 million in <strong data-start=\"3983\" data-end=\"3991\">USDT<\/strong>, $7.5 million in <strong data-start=\"4009\" data-end=\"4017\">USDS<\/strong>, and $1.21 million in <strong data-start=\"4040\" data-end=\"4047\">DAI<\/strong>.<\/p>\n<h2 data-start=\"4055\" data-end=\"4108\"><span class=\"ez-toc-section\" id=\"Tether_Transaction_Fees_Plasma_Aims_for_Zero\"><\/span>Tether Transaction Fees? Plasma Aims for Zero<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p data-start=\"4110\" data-end=\"4400\"><strong data-start=\"4110\" data-end=\"4120\">Plasma<\/strong> is building an EVM-compatible sidechain designed to <strong data-start=\"4173\" data-end=\"4203\">eliminate transaction fees<\/strong> for <strong data-start=\"4208\" data-end=\"4225\">Tether\u2019s USDT<\/strong>. This vision has already caught investor attention: in October 2024, <strong data-start=\"4295\" data-end=\"4307\">Bitfinex<\/strong> led a $3.5 million funding round, followed by a $20 million Series A raise in February 2025.<\/p>\n<p data-start=\"4402\" data-end=\"4674\">The broader surge in stablecoin interest among institutions and venture funds played a clear role in the rapid raise. With <strong data-start=\"4525\" data-end=\"4533\">USDT<\/strong> currently making up 64% of all stablecoin supply, projects like <strong data-start=\"4598\" data-end=\"4608\">Plasma<\/strong> are positioning themselves at the heart of future infrastructure.<\/p>\n<hr \/>\n<p data-start=\"4402\" data-end=\"4674\"><em>You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0<span style=\"color: #0000ff;\"><a href=\"https:\/\/t.me\/coinengineernews\">Telegram<\/a><span style=\"color: #000000;\">,<\/span>\u00a0<a style=\"color: #0000ff;\" href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">YouTube<\/a><\/span><span style=\"color: #000000;\">,<\/span>\u00a0and\u00a0<a href=\"https:\/\/twitter.com\/coinengineers\" target=\"_blank\" rel=\"nofollow noopener\"><span style=\"color: #0000ff;\">Twitter<\/span><\/a>\u00a0channels for the latest<span style=\"color: #0000ff;\">\u00a0<a style=\"color: #0000ff;\" title=\"News\" href=\"https:\/\/coinengineer.net\/blog\/news\/\" data-internallinksmanager029f6b8e52c=\"7\">news<\/a><\/span>\u00a0and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sometimes, speed tells more than size in crypto. Raising $500 million in stablecoins in under an hour isn\u2019t just impressive\u2014it\u2019s a clear sign of growing institutional interest in the space. On June 9, blockchain project Plasma opened its stablecoin vault for deposits, and it closed before the hour mark. At 9:00 a.m. ET, Plasma launched<\/p>\n","protected":false},"author":28,"featured_media":43994,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,657,2],"tags":[520,1844,17749,12919,5384,17342,1915,17746,17750,221,17745,17747,488,118,15034,943,8243,119,17748],"class_list":["post-43993","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-en","category-news","tag-arkham","tag-bitfinex","tag-blockchain-raise","tag-cobie","tag-crypto-investment","tag-crypto-startup","tag-dai","tag-echo","tag-evm-sidechain","tag-ico","tag-plasma","tag-sonar","tag-stablecoin","tag-tether","tag-token-offering","tag-usdc","tag-usds","tag-usdt","tag-xpl-token"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Plasma Raises $500 Million in Stablecoins Within One Hour - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/plasma-raises-500-million-in-stablecoins-within-one-hour\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Plasma Raises $500 Million in Stablecoins Within One Hour - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Sometimes, speed tells more than size in crypto. Raising $500 million in stablecoins in under an hour isn\u2019t just impressive\u2014it\u2019s a clear sign of growing institutional interest in the space. On June 9, blockchain project Plasma opened its stablecoin vault for deposits, and it closed before the hour mark. 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