Data: Since expanding to Solana, PYUSD's market value has increased by 150%, currently reaching 684 million USD

ChainCatcher news, according to CryptoSlate, based on data from DefiLlama, since expanding to Solana on May 29, the market capitalization of PayPal USD (PYUSD) has grown by 150%, and the total market capitalization of this stablecoin is currently approximately $684 million.

It is worth noting that the usage of PYUSD is almost evenly distributed between Solana and Ethereum, with market shares of 48.32% and 51.68% respectively, showing a small gap.

However, despite the growth, PYUSD still lags far behind its more established counterparts, 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, with a share of nearly 9%.