PayPal's stablecoin PYUSD market value exceeds $1 billion, and Solana's on-chain supply surged 171% in the past month
According to the news from Mars Finance, on August 27, according to FinanceFeeds, the market capitalization of PYUSD, the stablecoin of PayPal, has exceeded $1 billion, and its supply has more than doubled since June. According to Visa's stablecoin dashboard, the user activity of PYUSD has soared, with the number of monthly active wallet addresses jumping to more than 25,000 in July, compared to 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, exceeding the supply on the Ethereum chain. According to data from defillama, the Solana chain PYUSD supply has increased by 171% in the past month.
