Weekly DeFi Index

All the indices were positive last week. The market capitalisation, volume and volatility indices grew by +7.73%, +20.14% and +41.77%, respectively.

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Chart of the Week

PayPal’s PYUSD stablecoin achieved a market capitalisation of US$1 billion, becoming one of the top five stablecoins in the market after its launch on the Solana network partnered with Crypto.com in May. This marked a significant milestone since its launch in August 2023 on the Ethereum. The stablecoin, pegged to the US dollar, aims to facilitate seamless transactions and enhance the utility of digital currencies on various platforms. Its growth reflects increasing interest in stablecoins and digital payments. PYUSD can be used for various transactions, including cryptocurrency purchases and transfers, contributing to the expanding adoption of cryptocurrencies in everyday financial activities.




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DeFi & L1L2 Weekly – 💰 PYUSD hits US$1 billion market cap; MakerDAO rebrands as Sky and introduces 2 new tokens

PayPal’s PYUSD hits $1 billion market cap. MakerDAO rebrands as Sky and introduced 2 new tokens. Tether plans to develop a stablecoin pegged to the UAE dirham.

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