The initial adoption rate of PYUSD is lower than expected, and 90% of the total tokens are still stored in the issuer Paxos Trust address

Odaily Planet Daily News Nansen data shows that currently about 90% of PayPal's stable currency PYUSD is still stored in the wallet of the stable currency issuer Paxos Trust. PYUSD holdings on cryptocurrency exchange addresses such as Kraken, Gate.io, and Crypto.com represent only about 7% of the total supply. And the amount of PYUSD held by "smart money" investors is negligible. The number of tokens in the DEX platform trading pool (PYUSD/WETH and PYUSD/USDC on Uniswap, etc.) is less than 50,000. Nansen further analyzed the situation of the top individual holders and found that the largest currency holding address of non-trading platforms or contracts (individual investors) holds less than 10,000 PYUSD, and there are less than 10 currency holding addresses with a PYUSD balance of more than 1,000 US dollars . It is worth noting that the data on the chain shows that although the issuance of PYUSD has continued to increase after its official launch, the total supply at the current stage is only 42.298 million, which is still far behind the mainstream stablecoins. The current total supply of PYUSD is only equivalent to about 0.14% of the total supply of USDC. (Cointelegraph)