PayPal's Newly Launched PYUSD Stablecoin Has Seen Low Adoption
PayPal's new stablecoin PYUSD has not gained much traction since its launch, with only a small number of people using and holding it in self-custody wallets. Smart money holders and centralized exchanges are also avoiding the stablecoin, with Paxos still holding 90% of its supply in custody. Additionally, there are limited ways to earn interest on PYUSD, which may contribute to the lack of enthusiasm for the token.
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PayPal's Newly Launched PYUSD Stablecoin Has Seen Low Adoption
PayPal's new stablecoin PYUSD has not gained much traction since its launch, with only a small number of people using and holding it in self-custody wallets. Smart money holders and centralized exchanges are also avoiding the stablecoin, with Paxos still holding 90% of its supply in custody. Additionally, there are limited ways to earn interest on PYUSD, which may contribute to the lack of enthusiasm for the token.