PYUSD Sees Strongest Network Growth Since April Amid Declining Market Cap

PayPal's USD token (PYUSD) continues to attract new users despite a decline in market capitalization. According to Santiment data, PYUSD recorded 863 new wallets in a single day, its strongest network growth since April 8th.

This growth suggests that adoption among users is recovering faster than the supply of PYUSD is circulating. The market capitalization of PYUSD is roughly 24% lower from late May, near $2.73 billion.

The trend of increasing wallet counts on major networks also indicates participation beyond short-term speculative demand. PayPal's expansion of its payment ecosystem through support for merchant settlements and Polygon native support strengthens the utility behind recent growth in wallet use.