PayPal’s PYUSD struggles with early adoption — Nansen

PayPal recently launched stablecoin PayPal USD (PYUSD) is facing difficulties gaining traction, on-chain information expose. According to findings from blockchain analytics firm Nansen, roughly 90% of PYUSD is currently held in stablecoin company Paxos Trusts wallets.Holdings on crypto exchange wallets stand at nearly 7% of the overall supply, according to the report, with balances on Kraken, Gate.io and Crypto.com. Breakdown of PayPals PYUSD top holders: Source: NansenPayPals stablecoin launching in early August raised high expectations in the crypto market.

Thank you for reading this post, don't forget to subscribe!

PayPal just recently released stablecoin PayPal USD (PYUSD) is facing obstacles getting traction, on-chain data reveal. According to findings from blockchain analytics firm Nansen, roughly 90% of PYUSD is currently held in stablecoin company Paxos Trusts wallets.Holdings on crypto exchange wallets stand at nearly 7% of the overall supply, according to the report, with balances on Kraken, Gate.io and Crypto.com. Breakdown of PayPals PYUSD top holders: Source: NansenPayPals stablecoin debut in early August raised high expectations in the crypto market.