November 27, 2023

Image Credit: KuCoin

PayPal's PYUSD Stablecoin Surges to $290M+

January 13, 2024

By: Pooja

Paxos initially held 90% of PYUSD in custody, revealing concentrated distribution as total supply reached 43.3 million by August's end.

Initial Concentrated Distribution

Image Credit:  Fireblock

PYUSD's market cap soared to $293M, surging five-fold with a remarkable 70% increase in the past month, ranking it among top-ten stablecoins.

Market Capitalization Surge

Image Credit: NewsBTC

Competing with Tether

Tether leads with $94B, but PYUSD's recent growth makes it a notable player in the stablecoin market.

Image Credit: Storm Gain

Adoption and Integration

PYUSD's adoption on Crypto.com and Kraken, plus integration into DeFi, fuels its growth.

Image Credit: Medium

Broadened Distribution

PYUSD distribution widens; Crypto.com holds 38.7%, followed by DeFiance Capital, Curve, Kraken, and Paxos.

Image Credit: U Today

DeFi Integration

Image Credit: Forbes

DeFi, like Curve and Aave, integrates PYUSD. Curve's liquidity pool with PYUSD and Frax totals $135M. Aave community proposes PYUSD integration.