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Fraudulent announcement promising triple profits from cryptocurrency sent to Betterment account
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PayPal's PYUSD supply surges, market cap exceeds $3.8 billion in just a few months
According to data from DeFiLlama, the supply of PYUSD stablecoin issued by PayPal has been experiencing explosive growth in recent months. Since September, the market capitalization of PYUSD has surged from around $1.2 billion to over $3.8 billion at present, more than tripling in a short period of time. This rapid expansion indicates the increasing acceptance of PYUSD by users and institutions within the digital financial ecosystem.
Currently, PYUSD has risen to become the sixth-largest stablecoin in the global market. Notably, in just the past 30 days, PYUSD has recorded growth of more than 36%, reflecting strong capital inflows into this stablecoin as well as growing confidence in cryptocurrency products backed by traditional financial corporations.