PayPal located in Solana korean:
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According to the Dune analytics dashboard cited by the Solana Foundation, the Solana-based PYUSD stablecoin currently has a supply of approximately $240 million since its launch in May. According to The Block Data Dashboard, the Ethereum-based PYUSD token has a supply of approximately $348 million.
PYUSD on Ethereum was launched about a year ago.
“This rapid growth highlights the strength and efficiency of the Solana network,” said Sheraz Shere, GM of Payments at the Solana Foundation.
Solana-based decentralized exchanges such as Jupiter and Orca, which added PYUSD, may have contributed to the rapid growth of the PYUSD stablecoin on the Solana network.
Overall, PYUSD and Solana-based stablecoins make up a relatively small portion of the overall stablecoin market. The supply for the two major stablecoins, Tether’s USDT and Circle’s USDC, is primarily powered by the Ethereum and Tron networks. According to The Block Data Dashboard, USDT and USDC have a market cap (supply) of $120 billion and $36 billion, respectively.
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About the Author
RT Watson is a senior reporter at The Block, covering a wide range of topics including corporate America, blockchain gaming, and NFTs. Previously, he covered entertainment at The Wall Street Journal, writing about Disney, Netflix, Warner Bros., and the creator economy, with a focus on technological disruption across media. Prior to that, he covered corporate, economic, and political news in Brazil at Bloomberg. RT has interviewed a wide range of people, including CEOs, media moguls, major influencers, politicians, blue-collar workers, drug dealers, and convicted criminals. He holds a Master’s degree in Digital Sociology.