In the current robust Bitcoin market where new record highs are being set, it’s noteworthy that PayPal’s stablecoin, PYUSD, experienced a substantial drop in circulation. By March, its circulating supply had decreased by approximately 39% compared to early February, amounting to $188.5 million.
USDT on PayPal, which began with a strong momentum, saw its circulation amount to approximately $304 million in February and around $301 million in January, according to CoinGecko’s data report. The market capitalization of USDT on PayPal reached a peak of $312 million on the 26th of February. However, this growth began to dwindle afterwards.
According to the latest figures from Coinmarketcap, the market value of Pyusd has increased to $191 million – a small yet noticeable rise in comparison to the previous week.
In August 2023, PYUSD was introduced as a new digital currency focusing on transactions and Web3 technology. It started with a value equivalent to one US dollar.
Despite having a relatively low market share, PYUSD has secured the 13th spot amongst stablecoins based on market capitalization, exceeding both USDP and GUSD in the process.
Also Read:Binance Exec Faces Nigerian Prison Ordeal
Read More
- CRK Boss Rush guide – Best cookies for each stage of the event
- Mini Heroes Magic Throne tier list
- Adriana Lima Reveals Her Surprising Red Carpet Secrets for Cannes 2025
- Summoners Kingdom: Goddess tier list and a reroll guide
- Castle Duels tier list – Best Legendary and Epic cards
- Ludus promo codes (April 2025)
- Kingdom Rush 5: Alliance tier list – Every hero and tower ranked
- DEEP PREDICTION. DEEP cryptocurrency
- Grimguard Tactics tier list – Ranking the main classes
- CXT PREDICTION. CXT cryptocurrency
2024-04-09 04:04