Bitcoin-Based Stablecoin Network Plasma Raises Deposit Cap to $1B, Gets Filled in 30 Minutes

Description

Stablecoin-focused blockchain Plasma raised its deposit cap to $1 billion early Thursday — and hit that limit within 30 minutes. The new cap marks a doubling from the prior $500 million ceiling, which had itself been raised just days earlier following a community-driven outcry over bot activity and rapid sellout times. Plasma said the short-notice announcement was designed to give real users, such as those active in its Discord, a fairer shot at joining. But it’s not a token sale just yet. “Depo...