Crypto
Stablecoins Shift Towards Practical Use Cases Amid Market Volatility
The PayPal USD stablecoin has been attracting new users despite its circulating supply remaining low. According to Santiment data, $PYUSD recorded 863 new wallets in a single day, marking the strongest network growth since April 8.
This growth suggests adoption among users is recovering faster than the supply is circulating. Despite a 24% decline in market capitalization from late May, reaching around $2.73 billion, the number of new wallets is increasing.
The trend is not limited to PayPal USD, as holder counts are also rising on major networks. This indicates participation going beyond short-term speculative demand and towards real usage.