BlackRock has launched two tokenized money market funds: BSTBL on Ethereum and BRSRV on Solana, designed to serve as reserve assets for stablecoins. These vehicles enable issuers to keep liquidity native to the blockchain network rather than in traditional bank accounts. Stablecoins now account for over 14% of the total crypto market, representing $305 billion in capital against a $2.26 trillion market cap. This move reignites the Solana versus Ethereum debate as Layer 1 networks compete for stablecoin reserves and on-chain liquidity, while altcoins already represent 60% of Binance’s trading volume.
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