PayPal’s PYUSD Fails To Capture Interest: 90% Of Supply Remains In Paxos’ Wallet
Paypal’s Ethereum-based stablecoin PYUSD has failed to capture crypto investors’ interest. According to data from Nansen, 90% of the stablecoin’s total supply still remains with its issuer Paxos’ wallet. Paypal’s PYUSD Adoption Setback The payment giant Paypal’s recently launched stablecoin PYUSD continues to struggle with adoption and has failed to gain traction since its official launch on August 7, 2023. Despite PayPal having over 350 million users worldwide, on-chain data from Nansen has shown that only a small percentage of its user base is....
Related News
In a groundbreaking move that signals a convergence of traditional finance and the burgeoning crypto economy, Coinbase announced its intention to list PayPal’s stablecoin, PYUSD. This comes on the heels of Kraken’s recent addition of PYUSD trading options, marking a significant stride in the stablecoin’s mainstream adoption. “Coinbase Assets” took to Twitter to confirm the […]
PayPal’s stablecoin PYUSD is now available on nine more blockchains, thanks to integration with LayerZero’s interoperability protocol. PayPal’s Stablecoin Now On Tron, Avalanche, & Seven Other Networks As announced by LayerZero in a blog post, PayPal USD (PYUSD) is getting a major expansion through integration with its Stargate Hydra system, allowing users to move the stablecoin […]
PayPal is reshaping the way money moves across apps, borders, and currencies with its new launch – PayPal Links. This is a new feature that lets users send or receive money through a one-time personalized link. For the first time, crypto is a part of the experience. Users can now transfer Bitcoin ($BTC), Ethereum ($ETH), PayPal USD ($PYUSD), and more, directly to PayPal, Venmo, and even some external wallets. The roll-out will begin in the US before expanding to international markets later this year. These upgrades are all a part of the PayPal World framework, which aims to connect....
PayPal is launching a permissionless version of its $PYUSD stablecoin across Tron, Avalanche, and seven other blockchains. All will be achieved through Stargate, a bridge service that connects over 80 blockchains. LayerZero, which acquired Stargate last month, used its Hydra model to expand $PYUSD to these nine networks. With crypto adoption accelerating, now signals a […]
Solana continues to prove that it’s one of the top blockchains for this cycle. After its rally, which gained 35% over the past 60 days, the popular Layer 1 blockchain is back in the news with more on-chain activities. According to recent data, Solana’s DeFi Total Value Locked or TVL increased to $5.7 billion in the third quarter, reflecting a 26% improvement from the previous quarter. Related Reading: Will Bitcoin Hit $176K? Anthony Scaramucci Lays Out His High-Stakes Forecast Kamino, a crypto lending service, leads the count with $1.5 billion in TVL and an impressive 7% Quarter-on-Quarter....