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PYUSD Supply Surges 22% in One Week, Ranks Sixth Among Stablecoins
Summary: According to The Defiant, the supply of PYUSD increased by 6.25 billion USD in the past week, a 22% surge, leading the stablecoin market growth. The newly minted PYUSD all flowed into the Ethereum network, raising its total supply on Ethereum to 23.8 billion USD. Following last week's surge in supply, PYUSD has risen to ...
According to The Defiant, the supply of PYUSD increased by 6.25 billion USD in the past week, a 22% surge, leading the stablecoin market growth. The newly minted PYUSD all flowed into the Ethereum network, raising its total supply on Ethereum to 23.8 billion USD. Following last week's surge in supply, PYUSD has risen to become the sixth largest stablecoin in the DeFi sector, with a market share just exceeding 1%. This signifies PayPal's continued efforts in the stablecoin race, showing strong momentum as traditional financial institutions enter the crypto market. Analysts point out that PayPal's large user base and brand influence could be key advantages for PYUSD's future expansion.
