PayPal’s PYUSD Surpasses $1 Billion Market Cap with Majority on Solana
- PYUSD reached a $1 billion market cap in just 351 days, faster than USDC and USDT.
- Over $647 million of PYUSD is on Solana, with $430 million locked in Kamino for lending.
- PYUSD’s growth on Solana outpaces USDT, but USDC remains significantly larger.
One notable insight is that the high annual percentage yield (APY) offered by Kamino—currently at 13.63% base and up to 14.6% with bonuses—has driven significant allocation of PYUSD on Solana, highlighting the platform’s attractiveness for yield-seeking investors.
Looking ahead, the rapid growth of PYUSD suggests it could soon become a major player in the stablecoin market, potentially challenging the dominance of USDT and USDC, especially on Solana.
