A single whale bankrolls Stable’s pre-deposit phase with $500M

Stable, a new chain dedicated to USDT transfers, recently announced its first liquidity ￰0￱ funds were raised within a day, where one single whale contributed $500M. Stable, a chain built for USDT transfers and backed by Bitfinex, recently announced its pre-deposit ￰1￱ goal was to raise $825M, which was achieved within a few ￰2￱ aims to draw in more USDT, offering lower costs and a chain optimized for the stablecoin. Currently, USDT is still mostly transferred on Ethereum, burning over 29 ETH in daily fees and generating another $23M daily in additional smart contract ￰3￱ event brought USDT directly to Stable, with some of the coins originating from partnering DeFi lenders, including ConcreteXYZ, Morpho, Frax, and ￰4￱ 1 of the Pre-Deposit Campaign hit an $825M cap!

A big thanks to our partners and the community for making it ￰5￱ to come over ￰6￱ tuned! @ConcreteXYZ @fraxfinance @MorphoLabs @pendle_fi @USDT0_to @LayerZero_Core @gauntlet_xyz @Theo_Network … ￰7￱ — Stable (@stable) October 24, 2025 Stable, linked to Bitfinex and Tether, announced its presence right after the launch of Plasma, another chain specialized for ￰8￱ Cryptopolitan reported earlier, Plasma had a higher level of publicity, including for the long-awaited XPL ￰9￱ Plasma was built to carry multiple stablecoins, Stable is built specifically for Tether’s ￰10￱ launched without specific promotion around June 2025, and has now reached the stage of boosting its ￰11￱ two chains may challenge the on-chain distribution of stablecoins, which are still concentrated in a handful of networks.

A single whale added $500M to Stable The Stable fundraising event filled fast, but on-chain analysts noted over 60% of the liquidity came from a single ￰12￱ is more, the whale deposited USDT from multiple wallets even before the official announcement for the pre-deposit campaign. On-chain analysis showed the vault for Stable was filled with up to $600M from multiple whale wallets even 30 minutes before the ￰13￱ the funds coming from different wallets, they were tracked to a single OG Ethereum whale, with over $700M in ￰14￱ whale’s wallet was funded by the BTSE ￰15￱ before depositing, the entity added 300K ETH TO Aave, borrowing 500M ￰16￱ same whale previously also borrowed funds to deposit to Plasma, leading investigators to conclude that the projects were finding ways to fund themselves through previously accrued ￰17￱ community also commented on the reality of the pre-deposit campaign, which ended up being a whale event, rather than a series of retail ￰18￱ actual deposit window was short, and did not reflect organic demand for USDT on ￰19￱ total, Stable counted 194 depositors, suggesting the vault and its perks may be reserved for whales, and liquidity may be highly ￰20￱ arrives as yield becomes the next crypto trend Stable arrived as more crypto investors shifted to stablecoin ￰21￱ risk-taking has diminished, and instead some holders prefer to loan out ￰22￱ yields have a broad range, depending on the type of coin and the protocol.

Currently, USDC and USDT on Maple have the highest yield of over 7%. There is also a drive of deposits to sUSDs, Sky Protocol’s new yield-bearing ￰23￱ your free seat in an exclusive crypto trading community - limited to 1,000 members.