Participation breakdown & whale dominance

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Plasma’s ICO saw its top 10 wallets claim roughly 40% of the $500 million allocation among 1,108 participants, according to Etherscan data, highlighting significant concentration, with the largest contributor taking the $50 million maximum

Plasma’s ICO saw one participant spend over $100,000 in Ethereum gas fees to prioritise a $10 million USDC deposit, highlighting aggressive entry tactics among high-value contributors

The Plasma ICO sparked accusations on social media that Justin Sun, founder of TRON, dominated the raise through multiple wallets, though no direct onchain links to him were identified in wallet reviews

Plasma’s rapid ICO cap fill triggered a gas war, with whales paying high Ethereum fees to secure early access, drawing criticism and unverified accusations of manipulation

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