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Solana network demand pushes SOL-based PayPal stablecoin to $1 billion market cap

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Solana News

Cryptocurrencies

Solana-based PayPal stablecoin (PYUSD) has exceeded the $1 billion threshold in market capitalization, supporting the Solana network’s on-chain activity and demand.

PayPal stablecoin

drives stablecoin to $1 billion PayPal launched its stablecoin on Ethereum in August 2023 and expanded market capitalization surged to $1 billion. The SOL network accounts for 64% of the stablecoin’s market share. with token incentives that boost the asset’s adoption in DeFi protocols like Kamino Finance and Syndica.io.

 

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PayPal's Stablecoin Hits $1B Market Cap as Incentives Boost Activity on SolanaKrisztian Sandor is a reporter on the U.S. markets team focusing on stablecoins and institutional investment. He holds BTC and ETH.
Source: CoinDesk - 🏆 291. / 63 Read more »