PayPal USD (PYUSD), a stablecoin issued by PayPal, reached a new all-time high in market capitalization today, February 24th, reaching $4.1 billion.
This growth comes amid a “crypto winter” situation that has affected the entire market, with stablecoins This is a 13% increase from the $3.631 billion registered on January 4th..
In that sense, PayPal noted that stablecoins are “expanding access to on-chain liquidity and the true utility of decentralized finance (DeFi) through lending and borrowing.”
This is reflected, for example, in Aave, a decentralized finance (DeFi) protocol where users can deposit assets to earn income or use them as collateral.
Regarding this integration, the DeFi platform reported in January last year: La Stablecoin The deposit amount reached $400 million..
This figure represents almost 10% of total assets and suggests that holders are not just passively holding stablecoins, but actively seeking to interact with yield tools on the network.
PayPal’s virtual currency is contrary to USDT
According to a report by CriptoNoticias, PYUSD, which was introduced to the market in 2023, has gradually accelerated, consolidated in 2025, and its market capitalization has experienced a 650% surge in just 12 months.
This momentum has strengthened the assets of PayPal, which is already the sixth largest stablecoin. The PYUSD trend stands out for its deviation from the trends of the market’s leading stablecoins, with Tether (USDT)’s market capitalization recording a decline while PayPal’s assets strengthen. $187 billion on January 1st to $183 billiontoday, February 24th.