The stablecoin asset issued by Paypal is now the sixth largest stablecoin asset today after growing significantly over the past ten days.
Paypal’s (NASDAQ: PYPL) stablecoin, PYUSD, has seen a remarkable surge in market capitalization, propelling it to become the sixth-largest dollar-pegged token. Notably, over the past ten days, PYUSD's supply has increased by an impressive $140.9 million.
As of August 16, PYUSD's market valuation stands at $791.9 million, up significantly from $651 million on August 06, according to data from CoinGecko. Interestingly, a larger PYUSD supply now circulates on Solana compared to Ethereum, with 449 million SOL-based PYUSD in circulation.
This translates to 56.7% of the total PYUSD minted being on Solana. Among the top ten stablecoins ranked by market valuation, PYUSD has recorded the highest growth over the last 30 days, surging by 34.9% since July 16.
To reach the $1 billion milestone, at least $209 million more PYUSD needs to be minted by the project. Furthermore, to surpass FDUSD, PYUSD still has a ways to go, as it needs to climb by $1.54 billion to surpass FDUSD's $2.34 billion.
Paypal's PYUSD stablecoin has shown impressive momentum, outpacing other stablecoins in recent growth. With a substantial portion minted on Solana, it has positioned itself as a strong competitor in the stablecoin market since its launch. However, to achieve the $1 billion milestone and surpass other competitors, PYUSD must continue its rapid expansion and sustain this upward trajectory.
The above is the detailed content of Paypal's PYUSD Nears $1B Milestone. For more information, please follow other related articles on the PHP Chinese website!

As of press time, Pi is trading at $0.6711 after its integration with Chainlink on April 12th. The announcement caused a surge in the price of Pi

An analyst on X, Frigg, highlights multiple reasons to be optimistic about SUI Network price trajectory.

Following today's data released by IntoTheBlock, sentiment around Bitcoin appears heightening towards bullishness.

nt Labs and the Movement Network Foundation Launch Independent Investigation into MOVE Token Market-Making Irregularities
![A wave of capital is flowing out of Ethereum [ETH] and into Tron [TRX]](https://img.php.cn/upload/article/001/246/273/174477326297054.jpg?x-oss-process=image/resize,p_40)
With $1.52 billion in stablecoins migrating to Tron, investors appear to be favoring lower-cost chains and diversifying beyond traditional USD-backed assets.

Mantra CEO John Patrick Mullin has proposed burning his allocation of OM tokens in a move aimed at restoring investor confidence after the protocol's native token suffered a sharp collapse.

Technical Setup for Bonk Price Recovery According to prominent crypto analyst Altcoin Sherpa, Bonk is showing signs of a potential rebound.

Securitize, one of the largest tokenized asset issuers, said on Tuesday it has acquired MG Stover's fund administration business

Hot AI Tools

Undresser.AI Undress
AI-powered app for creating realistic nude photos

AI Clothes Remover
Online AI tool for removing clothes from photos.

Undress AI Tool
Undress images for free

Clothoff.io
AI clothes remover

AI Hentai Generator
Generate AI Hentai for free.

Hot Article

Hot Tools

MinGW - Minimalist GNU for Windows
This project is in the process of being migrated to osdn.net/projects/mingw, you can continue to follow us there. MinGW: A native Windows port of the GNU Compiler Collection (GCC), freely distributable import libraries and header files for building native Windows applications; includes extensions to the MSVC runtime to support C99 functionality. All MinGW software can run on 64-bit Windows platforms.

Notepad++7.3.1
Easy-to-use and free code editor

WebStorm Mac version
Useful JavaScript development tools

Dreamweaver Mac version
Visual web development tools

SublimeText3 Mac version
God-level code editing software (SublimeText3)