• PayPal's stablecoin PYUSD on Ethereum (ETH) has approached $1 billion in supply.

• The chart shows: the white line represents the issuance of PYUSD on Ethereum, while the blue line is on Solana. The growth on Ethereum is significantly faster and more stable, while Solana shows large fluctuations and an overall smaller scale.

2. Significance

• Increased adoption: A scale of $1 billion means that PayPal's stablecoin is no longer an experimental product, but is widely used in the market.

• Ethereum's position: Choosing Ethereum as the primary issuance chain indicates that PayPal and the financial giants behind it have greater trust in Ethereum's security, liquidity, and ecosystem.

• Entry of financial institutions: As a traditional financial giant, PayPal brings endorsement and compliance, enhancing the mainstreaming trend of the crypto market.

3. Market impact

• Competition in the stablecoin sector: USDT and USDC remain dominant, but the growth rate of PYUSD shows that newcomers also have opportunities, especially relying on PayPal's large payment user base.

• Positive for the ETH ecosystem: More stablecoin supply means increased demand for Ethereum's use in scenarios like DeFi, payments, and settlements, potentially leading to increased on-chain activity and fees.

• Institutional trend: This growth indicates that traditional financial institutions' confidence in blockchain is strengthening, no longer driven solely by crypto-native enterprises.

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👉 Simple summary:

This news reflects that PayPal's stablecoin is rapidly expanding, with Ethereum becoming the preferred platform, which is a strong positive for the ETH ecosystem and an important signal of traditional finance gradually embracing blockchain.