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| Foto: Office PayPal |
VISTORBELITUNG.COM,Tanjung Pandan, Bangka Belitung - Since its launch, the PayPal USD (PYUSD) stablecoin created by the digital payment giant, PayPal, continues to attract the attention of cryptocurrency market players. One question that often arises is about the current circulating supply of PYUSD coins in the market.
According to the latest monitoring from various leading crypto platforms, including CoinMarketCap and major exchanges, the current circulating supply of PYUSD is in the range of 873 million to 941.7 million coins. This figure shows the continued growth in adoption and usage of PYUSD since its launch.
For information, PYUSD is a stablecoin pegged 1:1 to the United States dollar (USD). This means that each PYUSD coin is backed by an equivalent reserve of assets in USD, short-term U.S. government bonds, and reverse repurchase agreements managed by its issuer, Paxos Trust Company. This mechanism aims to maintain the stability of PYUSD's value against fiat currency.
The circulating supply of PYUSD is not a static figure. Paxos has a mechanism to mint new PYUSD coins when there is demand from users and burn coins when users redeem them back for US dollars. This process ensures that the PYUSD supply is always in line with the amount of underlying asset reserves.
"Small fluctuations in the circulating supply of PYUSD are normal due to buying and selling activities by users on various platforms," explained a stablecoin analyst. "Paxos' transparency in disclosing information about the reserves and the PYUSD issuance mechanism provides confidence for holders of this asset."
The presence of PYUSD in the crypto market is seen as a significant step in encouraging the adoption of digital assets for everyday payments. Direct integration with the PayPal platform, which has hundreds of millions of users worldwide, provides ease of access and broad potential for PYUSD usage.
Crypto investors and users are advised to continue monitoring the development of PYUSD, including circulating supply data, market capitalization, and trading volume on various exchanges. This information can help in understanding the liquidity and market sentiment towards this stablecoin from PayPal.
Data Source: CoinMarketCap, other crypto exchange platforms.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investing in crypto assets carries a high risk. Conduct thorough research before making any investment decisions.