PayPal’s WEB3 bid with its PYUSD stablecoin is paying off. The stablecoin’s maket cap recently crossed $840 million.$1 billion marketcap on the horizon, recap of how PYUSD’s robust marketcap growth has played out since the Solana integration.
It is almost three months since the Solana integration and PYUSD is on the fast-lane towards becoming one of the top stablecoins. Meanwhile, the same stablecoin’s bridged amount on the Ethereum network was up 2.71% in the last seven days and 0.29% in the last four weeks according toSolana has had the advantage of cheaper gas fees than Ethereum for quite some time. In addition, its DeFi ecosystem has seen robust growth so far this year. Integrating PYUSD has not only allowed it to tap into more opportunities but also access perhaps one of the most important on-ramps of 2024.