PYUSD, introduced in Q3 2023, has seen its market cap approximate 1 billion USD. This growth reflects increased demand for stablecoins and growing trust from investors as regulatory uncertainty decreases.
Despite its growth, over 90% of PYUSD is concentrated in whale wallets, which raises liquidity and market stability concerns. This pattern is not uncommon among new stablecoins, prompting questions about genuine market demand.
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