PayPal's PYUSD supply shrinks by about $300 million after token burn

Blockchain tracker @whale_alert reported that roughly $300 million of PayPal's PYUSD stablecoin was burned on Tuesday, a move that typically signals large-scale redemptions. PYUSD's market capitalization chart shows a sharp drop over the past two days, sliding from about $4.22 billion to around $3.72 billion at the time of writing.