According to Odaily, data from DefiLlama reveals that since expanding to Solana on May 29, PayPal USD (PYUSD) has seen its market cap grow by 150%, reaching approximately $684 million. Notably, the usage of PYUSD is almost evenly distributed between Solana and Ethereum, with market shares of 48.32% and 51.68% respectively, showing a minimal difference between the two blockchains.
Despite this growth, PYUSD still lags significantly behind its more established counterparts, such as USDT and USDC. On the Solana blockchain, USDC dominates with 70.5% of the total stablecoin market cap, followed by USDT at 20%. PYUSD ranks third, holding nearly 9% of the market share.
