PYUSD market value exceeds $1 billion, with Solana chain supply increasing by 171% in the past month

PayPal's stablecoin PYUSD has surpassed the $1 billion market cap, with its supply more than doubling since June. According to Visa's stablecoin dashboard, PYUSD user activity has soared, with monthly active wallet addresses jumping to more than 25,000 in July, compared to 9,400 in May. PYUSD supply growth follows its expansion to the Solana network in May, which grew from zero to $650 million in just three months, surpassing the supply on the Ethereum chain. According to DefiLlama, the supply of PYUSD on the Solana chain has increased by 171% in the past month. (Finance Feeds)