The market value of the PYUSD stablecoin fell to 618 million US dollars, down 40% from the high of over 1 billion US dollars at the end of August, mainly due to the decrease in the circulation of PYUSD on the Solana network. Haseeb Quresh, managing partner of DragonFly Capital, said that the decline in PYUSD yields on platforms such as Kamino, Drift, and MarginFi has led to a decrease in the market value of PYUSD stablecoins.
On October 7th, the average daily transaction amount of Hong Kong Stock Connect in September was HK $61.946 billion, an increase of 119% compared with the previous month.
Bitcoin rose by 5.00% during the day and is now trading at $61,129 per coin.