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$242 Million USDC Deposited in Stable Phase Two Within 25 Minutes

$242 Million USDC Deposited in Stable Phase Two Within 25 Minutes

Stable’s latest pre-deposit phase exceeded its $500M goal, highlighting strong investor participation and continued demand despite earlier rapid inflow milestones.

USDC

Summary

Stable’s second pre-deposit phase has raised more than $650 million, surpassing its initial $500 million qualified deposit target. This follows earlier momentum when $242 million USDC was deposited within 25 minutes of launch. The campaign limits deposits to one KYC-verified wallet per user to prevent Sybil attacks, with most funds originating from cryptocurrency exchanges to bolster security.

Terms & Concepts
  • USDC: A U.S. dollar-backed stablecoin used for fast, secure transactions on blockchain networks.
  • Sybil attack: A malicious activity where one entity creates multiple fake identities to gain disproportionate influence or rewards in a network.
  • KYC-verified wallet: A cryptocurrency wallet that has completed identity verification to comply with regulatory requirements and enhance security.