PayPal's PYUSD has achieved a record quarterly transfer volume of $18.6 billion on Ethereum, marking a 260% year-over-year increase, according to Token Terminal data. This milestone represents consecutive quarters of record-breaking performance for the stablecoin. CoinMarketCap data reveals that PYUSD's total market capitalization has reached $2.815 billion, positioning it as the sixth-largest stablecoin. It is now closely trailing USD1, which has a market cap of $2.85 billion.