On August 26th, Paypal's stablecoin PYUSD announced that it broke through the $1 billion mark for the first time since its launch in August 2023. PYUSD was originally launched on Ethereum and has since undergone a major transformation. Most of its tokens are now issued on Solana. The latest data shows that as of August 26, 2024, the market cap of PYUSD has reached $1,008,546,868, setting a new milestone. PayPal USD reached this milestone almost twice as fast as USDC and three times as fast as USDT.