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Since its expansion to the Solana blockchain on May 29, PayPal USD (PYUSD) has experienced a dramatic 150% increase in its market capitalization, according to DefiLlama data. The stablecoin’s total market value has surged to $684 million, reflecting significant growth and adoption since its launch on Solana.

On August 8, the Internal Revenue Service (IRS) unveiled a revised draft of Form 1099-DA, aimed at streamlining the process for reporting digital asset transactions. The updated form, tentatively titled “Digital Asset Proceeds From Broker Transactions,” is set to come into effect for transactions starting in tax year 2025, with reports due by April 2026.

In recent developments, renowned crypto analyst Altcoin Sherpa has put forth an optimistic outlook for Dogecoin (DOGE), suggesting that the meme coin is on the verge of a potential bullish reversal.

In a recent development that's capturing attention in the Web3 and digital nomad communities, Solana SIM is offering a two-month free trial to holders of Genesis Saga and Chapter 2 NFTs.

​In a development that has sparked significant attention in the cryptocurrency world, approximately $2 billion worth of Ethereum (ETH) has recently been moved from wallets that had remained dormant since their seizure in 2021.

In a groundbreaking development aimed at propelling Bitcoin technology forward, Aptos Labs and Stacks have announced a significant new partnership. This collaboration centers on the formation of a new working group and the Aptos Foundation's role as a Signer for Stacks, marking a major advancement in blockchain innovation.