PYUSD Ecosystem Flourishes in October: Surging Holders and Transfers
Paypal’s stablecoin, PYUSD, has seen substantial growth in its ecosystem during October.
The number of unique PYUSD holders has increased from 924 to 1,438 since September 30, 2023, and the number of transfers has risen from 180 to 8,307. However, these numbers remain relatively modest when compared to USDT and USDC. PYUSD’s supply has also surged by 49.22%, going from 94.39 million to 140.86 million since September. Despite the concentration of PYUSD among the top 100 holders, there have been notable shifts in the distribution landscape.
Crypto.com has become the largest PYUSD holder, with 98.21 million tokens, accounting for 69.72% of the total supply. Paxos holds the second and third largest wallets, with 28.81 million and 4.83 million PYUSD, respectively. Kraken and Curve Finance follow, with 1.5 million and 998,658 PYUSD, respectively. Uniswap holds 966,936 PYUSD paired with USDC, making it the sixth-largest holder. The seventh-largest holder is unidentified, with 859,335 PYUSD and holdings in various digital assets, including wall street memes (WSM) and worldcoin (WLD). Coinbase and Uniswap claim the eighth and ninth-largest wallets, while an anonymous entity rounds out the top ten with around 500,000 PYUSD, received from Coinbase directly.
Clever Robot News Desk 26th October 2023
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