Data: Since expanding to Solana, the market value of PYUSD has increased by 150%, currently reaching $684 million

According to CryptoSlate, based on data from DefiLlama, since its expansion to Solana on May 29th, the market value of PayPal USD (PYUSD) has increased by 150%, and the current total market value of this stablecoin is approximately $684 million. Notably, the use of PYUSD is almost evenly distributed between Solana and Ethereum, with these two blockchains having a market share of 48.32% and 51.68% respectively, with little difference.

However, despite its growth, PYUSD still lags far behind its more mature peers such as USDT and USDC. USDC accounts for 70.5% of the total stablecoin market value on the Solana chain while USDT accounts for 20%; PYUSD ranks third with nearly a 9% share.