The initial adoption rate of PYUSD is lower than expected, with 90% of the tokens still held in the issuing party's Paxos Trust address.
2023-08-26 01:38
Odaily News Nansen data shows that currently about 90% of PayPal's stablecoin PYUSD is still held in the wallet of Paxos Trust, the issuer of the stablecoin. The holdings of PYUSD in cryptocurrency exchanges such as Kraken, Gate.io, and Crypto.com account for only about 7% of the total supply. The amount of PYUSD held by "smart money" investors can be ignored.
The token amount in the DEX platform liquidity pool (such as Uniswap's PYUSD/WETH and PYUSD/USDC pools) is less than 50,000. Nansen's further analysis found that the largest holder of PYUSD among individual investors (excluding exchange platforms or contract addresses) holds less than 10,000 PYUSD, and fewer than 10 addresses hold more than 1000 PYUSD.
It is worth noting that on-chain data shows that although the supply of PYUSD has been increasing since its official launch, the total supply is currently only 42.298 million, which is much lower than the supply of other mainstream stablecoins. The current total supply of PYUSD is only about 0.14% of the total supply of USDC. (Cointelegraph)
The token amount in the DEX platform liquidity pool (such as Uniswap's PYUSD/WETH and PYUSD/USDC pools) is less than 50,000. Nansen's further analysis found that the largest holder of PYUSD among individual investors (excluding exchange platforms or contract addresses) holds less than 10,000 PYUSD, and fewer than 10 addresses hold more than 1000 PYUSD.
It is worth noting that on-chain data shows that although the supply of PYUSD has been increasing since its official launch, the total supply is currently only 42.298 million, which is much lower than the supply of other mainstream stablecoins. The current total supply of PYUSD is only about 0.14% of the total supply of USDC. (Cointelegraph)
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