ChainCatcher news, according to official sources, Ondo Finance announced the launch of an instant exchange service for Ondo short-term U.S. government bonds OUSG and PayPal's dollar stablecoin PYUSD, aimed at further enhancing the redemption liquidity of OUSG and expanding the utility of PYUSD as a source of liquidity for real-world assets (RWA).

ChainCatcher news, according to The Block, PayPal's stablecoin PYUSD has been losing market share since it reached a market cap of over $1 billion at the end of August (when it was the fourth largest stablecoin). The current market cap of the token is $618 million, a decline of 40% over the past month and a half. The Solana-based PYUSD now has a market cap of approximately $267 million, down from the over $600 million peak it reached in August. Meanwhile, over $350 million worth of PYUSD tokens are circulating on Ethereum.The growth of this stablecoin has largely been attributed to PayPal's partnership with the Solana lending market Kamino Finance, which agreed to pay high yields subsidized by the payments giant to PYUSD holders. In recent weeks, the yield on PYUSD deposits on the lending protocol Kamino has dropped from around 17% to below 7%. The Solana-based protocols Drift and Marginfi, which also offered double-digit annualized rewards to PYUSD holders, have also been impacted. However, this trend may reverse. On Tuesday, Kamino added PYUSD to its "meme coin market," allowing users to borrow against positions in meme coins like WIF, POPCAT, and BONK. This arrangement will provide an additional $10,000 in PYUSD rewards to depositors each week. In contrast, lenders of PYUSD on the Ethereum-based decentralized exchange Aave are currently earning about 4.3%.During a similar six-week period, the market caps of the two major stablecoins USDT and USDC have remained relatively stable. Since August 31, Tether's stablecoin market cap has increased by $1 billion, while Circle's token market cap first increased by $2 billion and then decreased by $2 billion.

ChainCatcher message, Paxos officially released the PYUSD transparency report for September 2024, disclosing relevant unaudited data as of August 31, 2024, 05:00 Beijing time, including:Total Tokens Outstanding decreased to $709,794,225;The current market value of collateral in U.S. Treasury securities is approximately $111,598,980, with a nominal position value of about $110,718,542;The current market value of collateral in U.S. Treasury collateralized reverse repurchase agreements is approximately $585,329,040, with a nominal position value of about $573,852,000;The current market value of cash deposits is approximately $23,224,383, with a nominal position value of about $23,224,383;The current market value of collateral in total net assets is approximately $720,152,403, with a nominal position value of about $707,794,925.

ChainCatcher news, according to Bloomberg, PayPal has completed its first commercial transaction using its PYUSD stablecoin. The Silicon Valley-based digital payment company stated that it paid an invoice to the multinational accounting firm Ernst & Young. PayPal relied on an enterprise-grade digital currency hub to complete the transaction, with the payment amount unknown; the funds have been deposited into the accounting firm's Coinbase account.PayPal's Market Development Director Steve Everett said, "B2B payments have matured and can be innovated, and digital currencies can provide incredible value in these use cases."

ChainCatcher news, according to The Block, MoonPay now supports PayPal USD (PYUSD), and users can now purchase PYUSD on MoonPay using all major payment methods in all supported countries (except Canada).

ChainCatcher message, according to Arkham monitoring, about 14 hours ago, the Cumberland marked address transferred 500,000 PYUSD to the Kraken Deposit address, which was then transferred to the Kraken hot wallet.

According to ChainCatcher's message, the Snapshot governance page shows that Convex Finance has initiated a proposal to significantly reduce the PYUSD holdings.The proposal states that Frax holds a large amount of PYUSD in its assets, but the interest is very low. Frax should diversify away from low-yield assets, and therefore it is suggested to reduce the over two million dollars of PYUSD in the Curve FRAX/PYUSD to a maximum of 500,000 dollars.The current proposal has a 99.51% opposition rate and will end on September 20.

ChainCatcher news, Paxos officially released the PYUSD transparency report for August 2024, disclosing the unaudited data related to PYUSD as of September 1, 2024, 05:00 Beijing time, including:Total Tokens Outstanding reached $908,164,708;The current market value of collateral in U.S. Treasury securities is approximately $149,017,480, with a nominal position value of about $148,342,340;The current market value of collateral in U.S. Treasury repurchase agreements is approximately $619,324,620, with a nominal position value of about $607,181,000;The current market value of cash deposits is approximately $156,006,044, with a nominal position value of about $156,006,044;The current market value of collateral in total net assets is approximately $924,348,144, with a nominal position value of about $911,529,384.

ChainCatcher message, Kamino posted on X that it has raised the global borrowing limit for PYUSD on the platform to 20 million USD, which means users can borrow using any collateral asset. It is worth noting that the borrowing rate for PYUSD is not affected by the size of the loan.In addition, the borrowing limit for PYUSD on the Ethena Labs market has also been raised to 10 million USD.

ChainCatcher news, according to Bitcoin.com, the stablecoin market has continued its upward trend over the past week, increasing in value by $1.3 billion. The largest stablecoin network by market capitalization, Tether (USDT), expanded its supply by $820 million during this period, with its market cap rising from $116.88 billion to the current $117.7 billion.In the past week, the market saw the addition of $710 million in FDUSD. Meanwhile, the sixth-largest stablecoin by market capitalization, Paypal's PYUSD, is also on the rise, nearing the $1 billion mark for the first time. As of August 23, its market cap was $981.69 million, with its supply increasing by 190 million tokens over the past week.

ChainCatcher news, according to Fortune, to increase adoption, PayPal announced a partnership with Anchorage Digital (the only U.S. cryptocurrency company with a banking license) to offer stablecoin rewards to Anchorage Digital's qualified investor user base, who hold PYUSD in their U.S. bank accounts, Singapore subsidiary, or through their non-custodial wallet Porto.Anchorage Digital stated that PYUSD and the rewards program do not constitute a securities issuance and are not subject to the jurisdiction of banking regulators.

ChainCatcher news, PayPal's dollar-pegged stablecoin PYUSD has surpassed its supply on the Ethereum network on the Solana network. As of now, the supply of PYUSD on Solana has reached 377 million, while the supply of PYUSD on Ethereum is 356 million.

ChainCatcher news, DefiLlama data shows that PayPal's stablecoin PYUSD supply on Solana has now surpassed that on Ethereum. The total market capitalization of PYUSD currently stands at $684 million, with 51.47% of PYUSD on Solana and 48.53% on Ethereum.

ChainCatcher news, according to CryptoSlate, based on data from DefiLlama, since expanding to Solana on May 29, the market capitalization of PayPal USD (PYUSD) has grown by 150%, and the total market capitalization of this stablecoin is currently approximately $684 million.It is worth noting that the usage of PYUSD is almost evenly distributed between Solana and Ethereum, with market shares of 48.32% and 51.68% respectively, showing a small gap.However, despite the growth, PYUSD still lags far behind its more established counterparts, such as USDT and USDC. USDC accounts for 70.5% of the total market capitalization of stablecoins on the Solana chain, while USDT accounts for 20%; PYUSD ranks third, with a share of nearly 9%.

ChainCatcher news, according to The Block, PayPal's stablecoin PYUSD has surpassed a market capitalization of 500 million dollars. In the past month, the supply of PYUSD has increased by 97%, from 270 million on June 26 to the current 533 million. This has placed PayPal among the top ten stablecoin issuers, while Tether USD leads with a supply of over 112 billion.The surge in PYUSD's growth occurred after its expansion to the Solana network in May, where approximately 134.5 million PYUSD tokens have been issued on Solana.

ChainCatcher news, according to Cryptoslate, the supply of PayPal's PYUSD stablecoin grew by 90% after expanding to the Solana blockchain in May, and as of July 8, its market capitalization has exceeded the $500 million mark. According to data from DeFillama, the total supply of PYUSD on Solana and Ethereum reached approximately $520 million (currently $533 million) as of July 8.A breakdown of the supply on the two chains shows that there is $399 million on Ethereum, accounting for 77% of the total supply, while there is $118.65 million on Solana, representing 23% of its supply. However, further analysis of the data indicates that its adoption rate on the Solana network is rising, with the supply on the network increasing by about 58% over the past week. In contrast, the PYUSD supply on Ethereum has decreased by 6% during the same period.

ChainCatcher message shows that the on-chain data indicates the supply of PYUSD has decreased to 398,936,871.41, with the current number of holders being approximately 10,475, and the number of on-chain transactions reaching 157,853.

ChainCatcher message, on-chain data shows that the total issuance of the USD stablecoin PYUSD launched by PayPal has fallen below 400 million, currently reported at 398,936,871.41 coins, with a circulating supply market value of 399,308,456.00 USD, an on-chain market value of 398,750,567.89 USD, and the number of holder addresses reaching 10,471.