Over the last month, the supply of Paypal’s PYUSD stablecoin has seen a substantial increase, surging by over 72% from 167.83 million to 289.43 million PYUSD. This significant growth has propelled the payment behemoth’s dollar-linked digital currency to become the tenth largest among all USD-anchored stablecoins.
Paypal’s Digital Currency PYUSD Supply Skyrockets
Roughly five months have elapsed since the introduction of Paypal’s Ethereum-based stablecoin, PYUSD. As of the end of August, the total supply of PYUSD stood at 43.3 million, with the top 100 holders possessing 99.99%. However, the quantity of PYUSD has since experienced a dramatic increase, soaring more than 568% to reach the current 289.43 million PYUSD. In the past 30 days alone, from Dec. 10, 2023, to Jan. 10, 2024, the supply of PYUSD has expanded by 72.4%.
Roughly 4,943 distinct addresses are currently holding PYUSD, and the stablecoin has accomplished a cumulative 29,592 onchain transfers. In recent developments
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