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Cryptocurrency News Articles
Bybit Integrates PAYUSD Stablecoin on Solana, Expanding Blockchain Interoperability
Aug 20, 2024 at 04:00 am
Blockchain interoperability is steadily advancing. On Friday, August 15, Bybit integrated PayPal's PYUSD stablecoin into the Solana blockchain ecosystem.
Cryptocurrency exchange Bybit has integrated PayPal’s PYUSD stablecoin into the Solana blockchain ecosystem, enabling seamless transactions of the stablecoin across the Solana and Ethereum networks.
This move is particularly significant considering PayPal’s vast user base and the growing importance of stablecoins in the cryptocurrency market.
PAYUSD, which is pegged to the U.S. dollar and backed by cash and cash equivalents, has quickly climbed the ranks to become the sixth-largest stablecoin by market capitalization.
According to DeFiLlama data, a substantial portion of PAYUSD’s liquidity, more than 56%, is hosted on Solana, with the remaining transactions occurring on the Ethereum network.
Solana’s low fees and scalability, coupled with its growing ecosystem, make it a prime candidate for stablecoin transfers, as highlighted by this integration.
On Monday, Solana’s volume on decentralized exchanges was $723.11 million, compared to Ethereum’s $702.65 million, showcasing the network’s high throughput.
However, it’s worth noting that Solana's low fees also attract a significant amount of automated and bot traffic, which can inflate the reported trading volumes on the network.
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- Bitcoin Miners Electrify the Grid: Ohio Gas Plant Acquisition Powers Up a New Era for Digital Gold
- Apr 30, 2026 at 10:38 pm
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- Solana's Slippery Slope: Price Prediction Points to Resistance Loss and Potential Further Drops
- Apr 30, 2026 at 09:08 pm
- Solana is struggling to break key resistance, signaling potential downside. Repeated rejections at $86-$88, coupled with a broken short-term pattern, point to targets as low as $67, or even $40, as sellers maintain control. Investors should watch critical support levels closely.
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- NYC's New Beat: Staking Systems, USD1, and Governance Drive Crypto's Next Wave
- Apr 30, 2026 at 03:02 pm
- From lucrative USD1 earning events to robust governance models, the crypto sphere is buzzing with innovations reshaping how we engage with digital assets, focusing on long-term commitment and stablecoin utility.
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- OKX Unveils Agent Payments Protocol: Ushering in a New Era of AI Transactions
- Apr 30, 2026 at 02:53 pm
- OKX launches its Agent Payments Protocol (APP), an open standard for AI-driven commerce, enabling agents to manage full business cycles. Explore the implications for AI transactions and agentic payments.
