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PayPal's stablecoin PYUSD has experienced significant growth following its expansion on the Solana blockchain. The supply of PYUSD surged by 90%, contributing to a market cap that now exceeds $500 million. Since its launch in August 2023, the stablecoin has seen remarkable growth, initially reaching 230 million tokens by the end of 2023. The latest figures indicate that the supply has now surpassed 533 million tokens. This growth has been accompanied by a notable shift in the distribution of PYUSD, with a 61% increase in supply on Solana and a 7% decrease on Ethereum.
PAYPAL’S PYUSD STABLECOIN SUPPLY SURGES PAST 500 MILLION TOKENS Since its launch in August 2023, PayPal’s stablecoin PYUSD has seen remarkable growth, with its market supply now exceeding 500 million tokens. Initially reaching 230 million tokens by the end of 2023, the supply… https://t.co/Ond8P5Frjl
PAYPAL’S STABLECOIN HITS HALF A BILLION TOKENS PayPal’s stablecoin, PYUSD, has gone from zero to hero, surpassing half a billion tokens in circulation since its August 2023 launch. From 230 million tokens at the end of 2023, PYUSD's supply has skyrocketed to over 533… https://t.co/gGYiZQZugy
Stable Coin Update: @PayPal Stable Coin $PYUSD surging on #Solana Over the past week, the supply of PYUSD on #Solana has surged by 61%, while its supply on #Ethereum has decreased by 7%. This growth has contributed to the overall increase in trading volume for the stablecoin,… https://t.co/MBJ5Tzu4Ij