ARB Price Soars 10% As PayPal Expands PYUSD to Arbitrum

The price of Arbitrum (ARB) increased by over 10% in the last 24 hours, reaching $0.4395. This rise is attributed to PayPal's decision to expand its PYUSD stablecoin to the Arbitrum network. This integration means Arbitrum is now a blockchain that supports PYUSD. PayPal previously launched PYUSD on Ethereum and expanded to Solana. The Solana expansion saw PYUSD's market capitalization grow significantly. By using Arbitrum, PYUSD users may benefit from lower transaction costs. While PYUSD's market cap has decreased recently, it's important to note that PYUSD is backed by the US dollar, unlike some failed stablecoins.