PYUSD

PayPal’s USD Stablecoin (PYUSD) Market Cap Soars 150% After Solana Expansion

Since its integration with Solana on May 29, PayPal’s stablecoin, PYUSD, has experienced a significant surge in market capitalization, soaring by 150% and reaching a total value of $684 million. The utilization of PYUSD is evenly divided between Solana and Ethereum, with 48.32% and 51.68%, respectively. This increase in growth can be linked to the implementation of incentive campaigns within its applications, such as Kamino. PYUSD offers the highest annual

PayPal integrates its stablecoin PYUSD with the Solana blockchain

PayPal has chosen to include its PayPal USD stablecoin (PYUSD) onto the Solana blockchain due to Solana’s exceptional transaction speed and minimal costs. This statement refers to the successful implementation of PYUSD on the Ethereum blockchain and its subsequent integration into PayPal’s Venmo service. Solana has a transaction processing capacity of about 1,423 transactions per second (tps), which is much higher than Ethereum’s range of 12 to 15 tps. Jose