PayPal USD Market Cap Advances 150% After Solana Expansion
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The PayPal USD market cap has increased by 150% following its expansion to Solana on May 29. According to DefiLlama data, the total value of the stablecoin now stands at $684 million. The usage of PYUSD is nearly even between Solana and Ethereum, with Solana showing a 48.32% dominance and Ethereum at 51.68%. The expansion to Solana has significantly boosted the coin's market cap, reflecting growing confidence in its value.
The rise in market cap indicates that the integration with multiple blockchains is beneficial for stablecoins. PayPal USD’s balanced presence on both Solana and Ethereum shows that diversification in blockchain utilization can lead to a substantial increase in market cap.
The nearly equal usage distribution across Solana and Ethereum suggests that users are equally interested in using PYUSD on both blockchain platforms. This expansion and the resultant market cap increase highlight the strategic importance of integrating with leading blockchain networks.
Source: coinpedia.org ↗
