đ PayPal's PYUSD just hit $1 billion in supply! đ Thanks to its move to the Solana ecosystem, it's now outpacing its Ethereum presence. Yield incentives on DeFi protocols played a massive role, says 21.co's Tom Wan.
Despite the summer crypto slump, PYUSD user activity is soaring, with active wallets hitting 25k in July from 9.4k in May. Solana's DeFi protocols like Kamino, Drift, and Marginfi are offering juicy rewards for PYUSD deposits.
Is this growth sustainable? đ€ Some experts are skeptical, but the goal is to boost circulation and on-chain activity. What do you think? Comment below! #DeFi #Web3 #Crypto đ