PYUSD Statistics 2025: Price Stability, Supply & Market Rank Revealed

PayPal USD (PYUSD) launched in 2023 as a U.S.-dollar–pegged stablecoin issued by Paxos Trust Company. It aims to combine fiat stability with blockchain efficiency. Today, PYUSD has been increasingly used in payments, remittances, and merchant settlements. For example, PayPal expanded PYUSD to the Arbitrum Layer-2 blockchain to reduce fees and latency.

Also, PYUSD is being considered for use on the Stellar network, pending regulatory approval, to speed up cross‑border transactions. This article unpacks the latest PYUSD statistics, price, supply, volume, and more, to give you a clear picture of where it stands and where it’s heading.

Editor’s Choice

• PYUSD’s market capitalization is approximately $1.35 billion as of September 2025.
• Circulating supply is about 1.3 to 1.4 billion tokens.
• PYUSD maintains a nearly 1:1 peg to USD, trading at about $1.00 per token.
• Its 24‑hour trading volume is around $95 million to $100 million.
• PYUSD ranks around #103‑#104 among all cryptocurrencies by market cap.
• Recent developments include deployment onto Arbitrum for Layer‑2 scaling and planning to expand into Stellar.
• Regulatory steps are underway; Paxos, the issuer, is applying for a U.S. national trust bank charter.

Recent Developments

• Layer‑2 Expansion, In July 2025, PayPal announced PYUSD deployment on Arbitrum, enabling lower fees and faster transaction throughput for dApps and payments.
• Planned Stellar Integration, PayPal also declared plans to make PYUSD available on the Stellar network, subject to New York financial regulatory approvals.
• Fee Waiver & Merchant Push, Coinbase waived transaction fees for PYUSD and enabled direct redemption to U.S. dollars to drive adoption among merchants and consumers.
• Regulatory Moves, Paxos applied for a national trust bank charter from the U.S. Office of the Comptroller of the Currency (OCC) to enhance oversight and legitimacy.
• The proposed GENIUS Act aims to regulate U.S.-issued stablecoins, but it has not yet been passed into law. If enacted, it could influence how PYUSD and similar stablecoins are backed and audited.
• Usage Expansion in PayPal Ecosystem, PYUSD is increasingly usable across PayPal’s existing channels (remittances, checkouts).
• Reserve Transparency Emphasis, Growth in regulatory and institutional expectations for fully backed reserves has become more central to PYUSD’s credibility.

PayPal USD (PYUSD) Analytics

• 97.95% of addresses hold between $0–$1k, showing that most PYUSD users are small retail holders.
• Only 1.79% of addresses fall in the $1k–$100k range, while just 0.26% hold over $100k, highlighting limited large-scale retail exposure.
• Whales control 90.98% of the total PYUSD supply, leaving only 9.02% in the hands of smaller participants.
• By time held, 66.42% of addresses are Cruisers, meaning they typically hold for weeks to months.
• 11.10% of addresses are classified as Traders, reflecting shorter-term activity.
• 22.48% of addresses are long-term Holders, showing a significant base of committed users.

PYUSD Price Statistics

• The current price per PYUSD token is $1.00 (or very slightly under or over, depending on the platform).
• Daily fluctuations are minimal, within a few basis points over 24 hours (e.g. +0.05%), indicating strong peg stability.
• The 24‑hour high fully adheres to around $1.00, and the low is just slightly below, around $0.999 in most markets.
• Over longer horizons (monthly or yearly), price shifts are negligible, reinforcing its role as a stablecoin.
• Some platforms report PYUSD trading at $0.9995‑$1.00, depending on liquidity and exchange spreads.

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PYUSD Market Capitalization

• PYUSD’s market cap is roughly $1.35 billion as of mid‑September 2025.
• Earlier in 2025, PYUSD’s market cap dropped as low as $498 million before rebounding.
• It surpassed $1.01 billion recently, returning to that level after the low in early 2025.
• Compared to peers, though smaller than USDT, USDC, and PYUSD, it is among the more significant stablecoins by market cap in the regulated fiat‑backed category.
• Its market cap ranks it around #103‑#104 overall in crypto market rankings.

PayPal USD Market Dominance vs Other Stablecoins

• Tether (USDT) leads the market with a massive 62.5% share, making it the dominant stablecoin globally.
• USD Coin (USDC) holds a strong position at 24.21%, securing its spot as the second-largest stablecoin.
• PayPal USD (PYUSD) accounts for just 0.38% of the market, valued at approximately $967 million, highlighting its niche but growing role.
• Other notable stablecoins include USDe (2.09%), DAI (1.69%), and USDS (1.67%), each with modest but important shares.
• Smaller stablecoins like BUIDL (1.13%), USD1 (0.87%), USDTB (0.58%), and FDUSD (0.48%) make up less than 2% each of the market.
• The “Other” category represents 4.4% of the market, showing the long tail of smaller stablecoins competing for adoption.

PYUSD Trading Volume

• The 24‑hour trading volume is approximately $95 to $100 million.
• Volume has shown signs of increasing, for example, a 27.40% day‑over‑day rise noted in one CoinGecko report.
• Some platforms show slightly lower volumes (~$85 million) depending on liquidity and exchange activity.
• Trading pairs involving BTC/PYUSD on some exchanges like Bullish show tens of millions in volume, e.g., ~$22.9 million in 24h for that pair.
• Volume trends reflect relatively stable demand; volume doesn’t spike wildly, which suggests usage in payments and transfers more than speculative trading.

Circulating Supply of PYUSD

• Circulating supply is about 1.3‑1.35 billion PYUSD tokens.
• Some variation in reporting, Kraken reports ~1,348,947,477 tokens.
• The supply seems stable; no large recent minting or burning events have been prominently reported.

Total and Maximum Supply

• PYUSD’s total supply is about 1,239,152,853 tokens.
• Circulating supply is nearly identical to total supply; PYUSD shows about 1.2‑1.25 billion tokens in active circulation.
• In past reporting, PYUSD supply on Solana (~377 million) and Ethereum (~356 million) was noted, demonstrating cross‑chain distribution.

• There is no fixed maximum supply (“max supply unlimited”) listed in some sources, meaning PYUSD is minted as needed according to reserve backing rather than being bounded by a hard cap.
• The ratio of circulating to total supply is almost 100%, showing that issued tokens are nearly all redeemable/active.
• Supply appears stable (no dramatic minting or sweeping burns) over recent months.

PYUSD Price Performance

• PYUSD maintains a very tight peg to USD; the recent price is ~$0.999 to $1.00 across major platforms.
• Year‑to‑date price change is very small, ~ ‑0.08% for the past year.
• All‑time high (ATH) reached ~$1.04 per PYUSD around early September 2023.
• Cycle low around $0.955 during a market downturn in late 2023.
• Recent market behavior shows minimal volatility; deviations from the peg are usually in basis points.
• The price has not diverged meaningfully from $1 even during periods of higher crypto volatility, which suggests backing and market mechanisms are holding up.
• Platforms show spread in trading pairs low, meaning the buying vs. selling price difference is small, reflecting good liquidity around the peg.

Historical Highs and Lows

• ATH (all‑time high), ~ $1.04 to $1.05, observed in early or mid‑September 2023.
• All‑time low, about $0.955 during a period of market stress.
• Distance from ATH in recent reporting is about ‑4.6% or so.
• Distance from ATL (all‑time low) is about +4.1% to +4.6% depending on the data source.
• During the ATL, peg deviations were more visible but resolved quickly, showing effective correction mechanisms.
• The fact that recent price performance remains within the tight bounds of ATH and ATL demonstrates stability.
• Some exchanges may report slightly different ATH / ATL due to trading pair currency differences, but USD‑equivalent measures are consistent.

PYUSD Availability Across Blockchains

• Ethereum dominates with 69.63% of PYUSD supply, confirming it as the primary network for liquidity and adoption.
• Solana holds 21.68%, reflecting its growing role in low-cost, high-speed transactions for stablecoin users.
• Berachain accounts for 5.97%, showing early adoption on newer blockchain ecosystems.
• Flow captures 2.72%, highlighting niche usage in developer-friendly and consumer-focused applications.
• Plume and Other chains remain at 0%, underscoring limited diversification beyond major networks.

PYUSD on Major Exchanges

• PYUSD is listed on major exchanges like Coinbase, Kraken, KuCoin, and Bullish.
• On CoinGecko, the BTC/PYUSD pair on Bullish shows ~$22,923,480 volume in the last 24 hours.
• PYUSD/USDC pair on Bullish also shows high activity (tens of millions) with tight spreads.
• KuCoin reports that PYUSD is fully backed and maintains the peg in their markets.
• Cryptorank lists the total supply on its platform as ~1.38 billion, and the circulating supply equals that, emphasizing that most issued PYUSD are tradable.
• Some exchanges may show a lower listed supply due to differences in data update times.
• PYUSD is commonly paired not just with USD equivalents but with USDC, USDT, and BTC, depending on the exchange, showing multiple liquidity options.

Liquidity and Trading Pairs

• BTC/PYUSD pair on Bullish is among the most liquid, with ~$22.9 million in 24h trading volume.
• PYUSD/USDC and PYUSD/USDT are also active pairs, and spreads are tight (minimal slippage).
• 24h volume for PYUSD overall ~$100.9 million, up ~27.40% day‑over‑day.
• Depth in order books around ±2% price change shows solid liquidity for major pairs, especially on centralized exchanges.
• On some decentralized exchanges (DEXs), liquidity is less robust; PYUSD pairs on DEX do not yet match centralized volume.
• Exchanges like KuCoin affirm backing and liquidity support in promotional / trading materials.
• There are yet no widespread reports of liquidity crises or deep order‑book thinning for major pairs, which supports confidence in trading capacity.

Reserve and Backing Assets

• PYUSD is fully backed by cash, U.S. dollar deposits, short‑term U.S. treasuries, and similar cash equivalents.
• The issuer, Paxos Trust Company, publishes reserve reports/attestations monthly.
• Backing assets are held with regulated oversight, including oversight by the New York State Department of Financial Services.
• Reserve assets are segregated from other corporate assets to ensure user protection.
• Users can redeem PYUSD 1:1 for U.S. dollars (without a conversion fee in many contexts) through PayPal / Paxos.
• Audits or attestations are carried out by third parties.
• The reserve model is similar to other regulated stablecoins, dollar deposits + treasuries + cash equivalents, with no indication of the use of risky or illiquid assets.

Regulatory and Transparency Reports

• PYUSD backing is under regulatory oversight, such as by the New York Department of Financial Services (NYDFS) via its issuer, Paxos.
• The issuer provides reserve attestations, and PYUSD claims full backing via dollar deposits, U.S. Treasuries, and cash equivalents.
• Regulatory clarity via U.S. policy proposals and checks under MiCA in the EU is improving the compliance framework for PYUSD.
• Transparency in transaction fees and redemption terms has improved.
• Reports suggest no large discrepancies in circulating vs. issued supply, indicating minimal hidden/unreported locked amounts.
• Some yield offers on PayPal balances in PYUSD have been discussed (e.g.,~3.7% yield), which raises regulatory interest.
• Auditors / third‑party accountants are being used/named in reserve attestations, enhancing trust.

Notable Milestones and Events

• Arbitrum deployment in July 2025 expanded PYUSD to a Layer‑2 blockchain to lower transaction fees and increase speed.
• Announcement of planned integration with Stellar to open up cross‑border and off‑ramp/on‑ramp opportunities.
• Coinbase is waiving fees for PYUSD transactions as part of a push for adoption.
• Growth projections, analysts expect ~75% growth for PYUSD in 2025.
• PYUSD’s market cap is cited near $880 million in some analyses.
• Participation in regulatory developments, aligning with proposed U.S. stablecoin legislation and EU standards.
• The expansion of “Pay with Crypto” style features, enabling conversion of tokens to PYUSD at checkout.

Projection & Growth Trends

• Analysts project ~75% growth for PYUSD in 2025.
• Yield on PYUSD balances (about 3.7%) is cited in some forecasts as a key attractor.
• Expansion of PYUSD onto additional blockchains is expected to increase utility and reduce transaction costs.
• Regulatory alignment is likely to favor PYUSD’s growth.
• PYUSD may capture a growing share of the stablecoin market.
• Cross‑border payments and remittances are expected to be a major driver.

Frequently Asked Questions (FAQs)

Conclusion

PYUSD has firmly established itself as a regulated stablecoin with real utility. Although it remains smaller than USDT and USDC in market capitalization and global liquidity, its strengths lie in merchant integration, regulatory clarity, and expanding cross‑chain reach. Deployments onto Arbitrum, planned expansion to Stellar, and favorable policy environments suggest that it is well-positioned for continued growth. For businesses and users seeking a stablecoin with trusted backing and seamless use within payment ecosystems, PYUSD is becoming a serious option.

As the stablecoin landscape continues to evolve through regulation, user demand, and technical innovation, keep watching PYUSD’s next moves. They’ll likely define how the intersection of digital currency and mainstream payments unfolds in the years ahead.