In July 2025, retail-sized transactions under $250 for the stablecoin USDC reached a record volume of $1.37 billion across 11 blockchain networks, with Solana accounting for 33%, Polygon 17%, and Arbitrum 12%. The overall supply of USDC is rising, alongside other stablecoins such as DAI and USDS, which together totaled $8.5 billion at the end of July. The US dollar remains the most widely tokenized currency, with no euro-backed stablecoins ranking among the top 20 by supply. In the tokenized money market fund sector, BlackRock leads with its BUIDL fund holding approximately $2.4 billion in assets, followed by WisdomTree's WTGXX fund, which has rapidly grown to over $919 million, marking a 91% increase in three weeks. Both funds invest primarily in U.S. Treasury bills and operate on the Ethereum blockchain. Additionally, Solana outperformed Ethereum in decentralized exchange trading volume for the tenth consecutive month in July, achieving $124 billion, which is 42% higher than Ethereum's volume. BlackRock's BUIDL fund targets institutional investors with large capital, while competitors like Spiko Finance's USTBL product aim to serve smaller investors who cannot meet the $5 million minimum investment threshold.