Plasma’s recent token sale, oversubscribed close to seven times, is a testament to the deep retail and institutional demand for Plasma’s infrastructure that makes the stablecoin movement possible. This realization of the project’s success stands in stark contrast to increasing regulatory vigilance. This inquisitiveness is bolstered by the recent passage of the GENIUS Act. This act, passed by the U.S. Congress, is the first crypto-specific legislation aimed directly at stablecoin oversight.
Those new buyers were the first buyers of Plasma, with their collective registration representing over 3,000 unique wallets. The average contribution per address totaled $83,629. Additional financing has sent Plasma’s valuation soaring to $500 million.
Plasma’s project is developing blockchain solutions that address scalability and cross-border payment efficiency. The 10x oversubscription rate highlights the tremendous demand for these types of solutions in this rapidly expanding digital asset landscape. 10% of Plasma’s 1 billion XPL token supply was given out to the early people who participated.
Plasma's founder, Paul Faecks, emphasized the project's role in advancing stablecoin infrastructure.
"At a time when global regulators are focused on digital assets, and specifically stablecoins, Plasma is delivering critical infrastructure that will spur institutional adoption," - Paul Faecks
Their bipartisan GENIUS Act was signed into law by the Trump administration on July 18th. The move underscores a growing regulatory appetite for the currently unregulated stablecoin space. Plasma’s work on stablecoin infrastructure is timely given the current increased scrutiny and oversight.
The maximum XPL token supply is 1 billion. With a sevenfold oversubscription rate, Plasma’s project features the best market enthusiasm ever recorded.
