With the announcement of PayPal’s stablecoin, the tokens named PYUSD have increased by up to 25 thousand percent.
Payment giant PayPal, which released a critical announcement at noon yesterday, announced that it will launch its stablecoin, PYUSD. With this move, dozens of tokens with the same name were produced. In fact, some PYUSD tokens have seen instantaneous increases of up to 25,000 percent. According to data from DEX Screener, these values currently fluctuate between 100-2000 percent.
Investors’ interest in easy earnings opportunities
The tokens listed on various DEX platforms are popular with investors who want to make easy profits. We witnessed this event with X before PayPal. Elon Musk, who changed his Twitter to the X platform, literally blew up dozens of tokens with the same name. Now, the volatile tokens, which we come across with PayPal’s PYUSD move, shake the agenda.
The data on PYUSD attracted attention not only with price movements, but also with the volume it created. Up to $2.6 million in trading volume was observed in the most popular PYUSD token of the same name. This was a testament to how quickly the crypto investor took action on new moves.
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