PYUSD’s Helps Paypal’s Enter Top 10 Stablecoin Provider
Paypal’s PYUSD stablecoin has seen a 72% increase in supply over the past month, reaching 289.43 million PYUSD.
This has made it the tenth largest among all USD-anchored stablecoins. The supply of PYUSD, which was introduced in August, had a total supply of 43.3 million, with the top 100 holding 99.99%.
However, the supply has since soared by over 568%, reaching 289.43 million PYUSD. The supply has expanded by 72.4% in the past 30 days.
Currently, 4,943 addresses hold PYUSD, and the stablecoin has completed 29,592 onchain transfers. PYUSD has become the tenth-largest stablecoin by market value, trailing the market capitalization of Pax Dollar (USDP).
Paxos, the entity behind USDP, collaborates with Paypal and serves as the primary issuer of the PYUSD stablecoin.
(With inputs from Shikha Singh)
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