PYUSD's circulating supply surged by $625 million in the past week, marking a 22% increase and positioning it as the fastest-growing stablecoin. The newly minted tokens were directed to the Ethereum network, boosting its total supply there to $2.38 billion. This growth follows a previous incident in October when Paxos mistakenly minted $300 trillion worth of PYUSD. With this recent increase, PYUSD has become the sixth-largest stablecoin in the DeFi space, holding a market share slightly above 1%. Analysts suggest that PayPal's extensive user base and brand strength could drive further growth for PYUSD.