Stablecoin Adoption Shifts Toward Network Usage and Settlement Demand

Despite a 24% drop in market capitalization to around $2.73 billion, PayPal USD (PYUSD) has continued to attract new users with 863 new wallets added in a single day.

This growth is the strongest network activity since April 8th and suggests that adoption among users is recovering faster than the supply of PYUSD is circulating.

The trend is not unique to PYUSD, as holder counts are also rising on major networks, indicating participation beyond short-term speculative demand.

PayPal's expanding payment ecosystem through support for merchant settlements and Polygon native support further strengthens the utility behind recent growth in wallet use.