PYUSD Supply on Solana Drops by 50% Amid Declining DeFi Liquidity Incentives

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PYUSD Supply on Solana Drops by 50% Amid Declining DeFi Liquidity Incentives The supply of PayPal‘s PYUSD stablecoin on the Solana blockchain has seen a sharp drop of around 50% over the past month, shrinking from $660 million to $320 million, according to a recent report by Blockworks.

This broad ecosystem helps ensure that the demand for PYUSD remains steady, even without the same level of liquidity incentives that have historically driven its growth on Solana.

For Solana, this could mean focusing on developing long-term utility for PYUSD in areas such as payments, remittances, and other real-world applications, beyond DeFi liquidity farming.

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Article Details

Author / Journalist: Sonam Aggarwal

Category: Crypto

Markets: India

Topics: PYUSD Crypto News

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-03 @ 03:55:09 (15 hours ago)

News Timezone: GMT +8:00

News Source URL: bitcoinworld.co.in

Language: English

Article Length: 825 words

Reading Time: 5 minutes read

Sentences: 38 lines

Sentence Length: 22 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © BitcoinWorld

News ID: 22857335

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About BitcoinWorld

Main Topics: Crypto

Official Website: bitcoinworld.co.in

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Headquarters: India

News Last Updated: 9 hours ago

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