There is positive news for memecoin holders and traders of other tokens in Solana. According to this news update, Paypal USD market capitalization has reached more than $1 billion and much of the supply is in Solana.
I speculate this will only grow and pump to the top 10 in market capitalization. When this has occurred, much of the supply will remain to be in Solana. This will give Solana traders the inflows of stablecoins needed to pump their memecoins and also other tokens hehehe. It appears the
Ethereum killer storyline might begin again.
PayPal’s stablecoin PYUSD surpassed $1 billion in market cap on Aug. 24, according to CoinGecko data.
On an X (formerly Twitter) post, PYUSD’s issuer Paxos celebrated the feat, highlighting how fast the stablecoin crossed the important mark when compared to its peers, USD Coin (USDC) and Tether USD (USDT).
CoinGecko data shows that it took 351 days for PYUSD to cross the billion threshold, while USDC and USDT exceeded the same mark within 616 and 1024 days, respectively.
Notably, most of the PYUSD market cap is circulating on Solana, less than three months after PayPal decided to expand the issuance of its stablecoin outside of Ethereum on May 29?Read in full https://cryptoslate.com/pyusd-hits-1-billion-milestone-with-the-majority-of-its-supply-on-solana/