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PayPal's Stablecoin PYUSD Surpasses $1 Billion in Market Cap | Cryptocurrency Trends

Aaron, Bitget Research
2024/08/28
PayPal's Stablecoin PYUSD Surpasses $1 Billion in Market Cap | Cryptocurrency Trends

1. Mainstream Exchange Trends:

  • Coinbase Developer Platform is developing a new API to support AI agents in sending USDC for free and other features.
  • Coinbase International Exchange announces that Coinbase Advanced has integrated with Insilico Terminal.
  • OKX Web3 Wallet to co-host "Pheromones Day" themed promotion with OKX Ventures during Korea Blockchain Week KBW.

2. Cryptocurrency Trends:

  • PayPal's stablecoin, PYUSD, surpasses $1 billion in market cap.
  • Telegram Wallet relaunches its exchange function, and TON-based deposits are being addressed.
  • Lido DAO introduces on-chain delegation and a Delegate Incentivization Program through Vote 178 and Snapshot vote.
  • Basenames registrations surge, with the daily active addresses on the Base chain surpassing 1 million.
  • Simon's Cat burns approximately $24 million worth of CAT, accounting for 10% of the circulating supply.
  • DWF Ventures to focus on innovative projects in the Solana LRT sector in the coming months.
  • Four.meme forms a strategic partnership with CoinMarketCap to help memecoin projects quickly secure a position in the leaderboard.
  • Maker rebrands to Sky Protocol and will launch its native governance token, SKY.

3. Financing Trends:

  • Gameplay Galaxy, a Web3 game development studio, raises $11.17 million in a seed extension round co-led by Blockchain Capital and Merit Circle.
  • UAE investment firms plan to launch a $500 million fund to invest in areas such as blockchain and DePIN.
  • Space and Time, a decentralized data platform, raises $20 million in Series A funding led by Framework Ventures and others.
  • Solana Optimistic Network closes a "cobuilder" funding round with participation from Solana co-founders and others.

4. Regulatory Trends:

  • Abra settles with U.S. SEC over unregistered sales of securities.
  • Durov faces detention until August 28 for allegedly providing unauthorized cryptography services and tools.
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