PayPal's stablecoin PYUSD market value exceeds $1 billion, and Solana's on-chain supply surged 171% in the past month
On August 27, according to FinanceFeeds, PayPal's stablecoin PYUSD has surpassed the $1 billion market cap milestone, with its supply increasing by more than double since June. According to Visa's stablecoin dashboard, PYUSD's user activity has skyrocketed, with the number of monthly active wallet addresses jumping to over 25,000 in July, up from 9,400 in May.
PYUSD experienced a peak in supply growth after expanding to the Solana network in May, growing from zero to $650 million in just three months, surpassing its Ethereum-based supply. According to defillama data, the Solana-based PYUSD supply has increased by 171% in the past month.
