Tether USDt

PayPal USD

Since its integration with Solana on May 29, <a href="https://optimisus.com/news/crypto-news/paypal-integrates-its-stablecoin-pyusd-with-the-solana-blockchain/" rel="noopener noreferrer nofollow">PayPal’s stablecoin, PYUSD</a>, 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.<a href="https://optimisus.com/market/market-news/paypal-introduces-pyusd-stablecoin-on-venmo/" rel="noopener noreferrer nofollow">PYUSD</a> offers the highest annual percentage yield (APY) as collateral on the Solana-based money market and has the lowest borrowing cost. Nevertheless, it lags behind its more established counterparts, such as Tether USD (USDT) and USD Coin (USDC).USDC accounts for 70.5% of Solana’s stablecoin total market value, while USDT represents 20%. PYUSD ranks third, with about 9% of the market share.USDT has recently exceeded a market capitalization of $115 billion, indicating its growing acceptance as the preferred digital currency for a range of transactions and applications, especially in developing economies dealing with the depreciation of their currencies.

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

Optimisus

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