The market cap of PYUSD jumped 70% from $170 million in the last month.
With this, PayPal is now one of the top 10 stablecoin issuers.
Launched in August via a cooperation with custodian company Paxos, PayPal’s stablecoin has seen significant growth in market value, presently surpassing $290 million.
By the end of August, the total supply of PYUSD had increased to 43.3 million after its launch. During that period, a concentrated distribution was evident as 90% of PayPal’s PYUSD supply was controlled by Paxos.
Bold Entry into Top 10 Stablecoin Issuers
Lately, the market valuation is $293 million, up fivefold. Importantly, according to CoinGecko statistics, the market cap jumped 70% from $170 million in the last month. With this, PayPal is now one of the top 10 stablecoin issuers.
Tether (USDT) market valuation of approximately $94 billion puts it in first place among stablecoins. PYUSD seems to have grown in popularity due to its incorporation into decentralized finance protocols a
We współpracy z: https://thenewscrypto.com/paypals-pyusd-stablecoin-reaches-market-cap-of-290-million/
