News Formal

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

  • 📰 FXStreetNews
  • ⏱ Reading Time:
  • 17 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 72%

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.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 14. in İE

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

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 »