PYUSD has grown 150% in market value since its expansion to Solana, now at $684 million

According to DefiLlama, PayPal USD (PYUSD) has seen a 150% increase in market capitalization since its expansion to Solana on May 29, with the total market capitalization of the stablecoin currently around $684 million. Notably, PYUSD usage is almost evenly distributed between Solana and Ethereum, with the two blockchains accounting for 48.32% and 51.68% of the market respectively, with little difference. However, despite the growth, PYUSD still lags far behind its more established peers such as USDT and USDC. USDC accounts for 70.5% of the total market capitalization of stablecoins on the Solana chain, while USDT accounts for 20%; PYUSD ranks third, accounting for nearly 9%. (CryptoSlate)