The PayPal USD market cap has risen by 150% since its expansion to Solana on May 29, with the stablecoin’s total value now sitting at $684 million, based on DefiLlama data. The usage of PYUSD is practically evenly distributed between Solana and Ethereum, as both blockchains show 48.32% and 51.68% dominance, respectively. However, despite its growth, PYUSD is still far away from Tether USD (USDT) and USD Coin (USDC). USDC dominates 70.5% of Solana’s stablecoin total market value, while USDT rakes up 20%. PYUSD has nearly 9% dominance.

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