PayPal’s PYUSD provide has surged 113% month-over-month, hitting an all-time excessive of $2.54 billion.
Abstract
- PayPal’s PYUSD stablecoin doubled its circulating provide, reaching $2.54 billion
- Over the previous month, the token’s provide surged 113%
- USDT and USDC nonetheless dwarf all different stablecoins mixed
PayPal’s stablecoin PYUSD has damaged out of its quiet launch section. On Friday, Oct. 3, the stablecoin reached an all-time excessive in circulating provide at $2.54 billion. Over the previous month, this determine rose 113%. On the identical time:
PayPal’s PYUSD excellent provide and stablecoin switch quantity | Supply: Token Terminal
A circulating provide of $2.54 billion places PYUSD in seventh place amongst stablecoins, behind USDe, USDS, DAI, and USD1. A lot of that provide, particularly $1.84 billion, is on Ethereum (ETH). On the identical time, $624 million price of PYUSD is on Solana (SOL).
PYUSD switch quantity peaked at $2 billion each day on Sept. 26, in accordance with knowledge from Token Terminal. To this point, the stablecoin has facilitated nearly $60 billion in whole transfers. PYUSD has additionally reached a milestone of 40,000 holders, a determine that has risen persistently since January 2025.
Nonetheless, giants Tether and USDC proceed to dominate the market, with $176 billion and $75.9 billion in circulating provide. Collectively, they account for nearly 85% of all circulating provide. PYUSD itself accounts for 0.84% of the stablecoin market.
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PYUSD stablecoin is taking off
At launch, many known as the PYUSD stablecoin a “nothing burger”, citing its restricted attain past the PayPal and Venmo ecosystem. Nonetheless, the agency has labored on decentralizing PYUSD, enabling customers to ship to exterior wallets and holding it non-custodially.
PYUSD’s all-time excessive coincided with the stablecoin market cap breaking the whole worth of $300 billion. U.S.-denominated stablecoins lead the cost, with USDC rising quickly. What’s extra, the month-to-month stablecoin switch quantity reached $3.27 trillion.
Learn extra: Stablecoin market breaks previous $300b for the primary time
