NiftyNoon: Is ICO Season Back? Plasma Raises $500M in Minutes! 💰🚀🔥
Bitcoin-backed stablecoin network Plasma secured $500 million in deposits for its $50M token sale, sparking hopes for a return of the ICO craze (June 10, 2025)
Nifty Thought:
Plasma, a new Bitcoin-backed stablecoin network, has attracted an impressive $500 million in stablecoin deposits within minutes for its upcoming token sale. This overwhelming demand, which saw one trader spend $100,000 in Ethereum priority fees to ensure their $10 million USDC deposit went through, has led some to believe that the Initial Coin Offering (ICO) trend from 2017 is making a comeback. While only $50 million worth of XPL tokens will ultimately be sold, users earn the option to purchase tokens by holding funds in the deposit vault and can withdraw their funds at any time, earning yield in the interim.
The rapid oversubscription of Plasma's sale, coupled with the recent successful public listing of stablecoin issuer Circle, highlights a surging investor appetite for stablecoin-related projects and the infrastructure that supports them. Plasma aims to enhance stablecoin utility on Bitcoin by developing an EVM-compatible sidechain that leverages Bitcoin's security and enables zero-fee transactions for Tether's USDT. While some critics point to the significant allocation going to a small number of "whales" in the sale, the event has certainly generated considerable excitement and could signal a broader shift in market interest towards new token offerings.
Highlighted News:
💰 @PlasmaFDN have reached deposit cap of $500 million in minutes:
https://x.com/PlasmaFDN/status/1932072359080415702
💸 The Plasma XPL token sale just raised $500M in 5 minutes, 10x oversubscribed:
https://x.com/arkham/status/1932117183909306656
🟠 MSTR + CEP + ASST + SMLR + NAKA + DJT = $76B in capital raising ability to buy Bitcoin:
https://x.com/matthew_sigel/status/1932040301675266541?s=46
🌍 Introducing Verseworld:
https://x.com/verseworld/status/1798037328151363885?s=46
📈 The Verse token just launched on Solana (via Pump) and has raced to $700M:
https://x.com/Tyler_Did_It/status/1932162548738171253
🇺🇸 Key points from Chairman Paul Atkins’ remarks today at “DeFi and the American Spirit,” SEC’s Crypto Task Force Roundtable on Decentralized Finance:
https://x.com/secgov/status/1932137708068970924?s=46
Project and Community News:
$ETH ETF inflow + $281,300,000 last week: https://x.com/TedPillows/status/1931985895994835266
Introducing - Verse Games: https://x.com/verseworld/status/1932144772912963772?s=46
Strategy has acquired 1,045 BTC for ~$110.2 million at ~$105,426 per bitcoin: https://x.com/saylor/status/1932045860851859842?s=46
SEC Chair Paul Atkins just laid out his crypto vision, and it’s the clearest signal yet that DeFi is winning the regulatory argument: https://x.com/econoar/status/1932184752540508375
SEC approves @Nasdaq Crypto US Settlement Price Index (the “NCIUS”) to include $SOL $ADA $XLM and $XRP as of June 2nd: https://x.com/martypartymusic/status/1931113636652560657?s=46
Leader Thune filed cloture on the underlying bill, Cal. #66, S.1582, GENIUS Act: https://x.com/senatecloakroom/status/1932152570107318514?s=46
Two single stock ETFs based on peer to peer payments Circle Internet Group $CRCL which only just IPO'd last Thursday: https://x.com/ETFhearsay/status/1932003104884412551
Discover how Chainlink is enabling the secure exchange of a Hong Kong CBDC and an Australian dollar stablecoin: https://x.com/chainlink/status/1932107888060760426
$KULR joins the "@BitcoinforCorporations” initiative by @Strategy and @BitcoinMagazine, strengthening its Bitcoin First approach: https://x.com/KULRTech/status/1932053216407237068
Tether just minted another 1B $USDT on Tron after 3 weeks: https://x.com/lookonchain/status/1932007918255427766?s=46
Coinbase Advanced is adding support for $FARTCOIN @FartCoinOfSOL
perpetual future: https://x.com/coinbasetraders/status/1932105409440965030
Fresh wallets funded via Coinbase Prime just aped $1.368M into Fartcoin: https://x.com/StalkHQ/status/1931850225150476449
The Blockchain Group Launches a €300 Million “ATM-type” Capital Increases Program with TOBAM: https://x.com/_altbg/status/1931960400683168210?s=46
dfdvSOL is now LIVE on @DriftProtocol: https://x.com/defidevcorp/status/1932045073941971078?s=46
SyrupUSDC has reached it's 20M deposit cap within 4 days of launch: https://x.com/kaminofinance/status/1932004137153003965?s=46
@ocapgames has raised a $3.5m Seed round lead by @1kxnetwork & @yugalabs: https://x.com/Ocapgames/status/19321206906997106FILrPgysGJ3DEcfFQ&s=19
@turnkeyhq raised a $30M Series B led by @BainCapCrypto to power innovation in crypto: https://x.com/turnkeyhq/status/1932030967188996348
Quick Stats:
👾 Blur ETH Daily Volume: 1037.52 ETH (▲ 33.59%)
🌊 OpenSea ETH Daily Volume: 602.43 ETH (▲ 44.17%)
🟠 BTC : $109,496.62 (▲ 2.16%)
🔷 ETH: $2,692.13 (▲ 6.34%)
🟣 Solana: $159.16 (▲ 2.72%)
🟪 Polygon: $0.22 (▲ 3.17%)
Top NFT Sales:
CryptoPunks #5051: 71.80 ETH
Clone X #10115: 72.50 ETH
CryptoPunks #6395: 44.90 ETH
NFT Daily Winners:
⛩ Azuki: 2.39 ETH (▲ 13.82%)
🧦 Bitcoin Puppets: 0.04 BTC (▲ 6.78%)
😡 Mad Lads: 37.17 SOL (▲ 6.22%)
👩🏻 Milady Maker: 2.31 ETH (▲ 6.06%)
🐵 NodeMonkes: 0.03 BTC (▲ 1.05%)
🐧 Pudgy Penguins: 9.16 ETH (▲ 0.43%)
🏳🌈 Chromie Squiggles: 4.75 ETH (► 0.00%)
NFT Daily Losers:
👾 Tensorians: 2.73 SOL (▼ 0.42%)
🚬 CryptoPunks: 44.00 ETH (▼ 0.56%)
🦧 Bored Ape Yacht Club: 12.77 ETH (▼ 0.97%)
🧙♂️ Taproot Wizards: 0.17 BTC (▼ 1.00%)
🐱 Quantum Cats: 0.02 BTC (▼ 1.10%)
🏴☠ Captainz: 0.37 ETH (▼ 1.81%)
💼 Ordinal Maxi Biz: 0.02 BTC (▼ 2.02%)
🍭 Mocaverse: 1.40 ETH (▼ 4.73%)
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