According to Santiment (@santimentfeed), whale investors dominated Plasma’s $500 million ICO, resulting in smaller investors struggling with high gas fees and limited access. This pattern signals a shift in token launch dynamics, where large holders can exert significant influence on price discovery and initial liquidity. For traders, this trend may mean higher volatility and reduced opportunities for retail participation during high-profile ICOs, potentially impacting early trading strategies and price action across the crypto market (source: Santiment, June 9, 2025).