Ethereum continues to be the blockchain of choice for stablecoin activity, hosting $35 billion in USDC and $67 billion in USDT.The following is an excerpt from The Block’s Data and Insights newsletter.

Raydium reportedly plans to spin out a rival memecoin launch-pad to compete with Pump.fun.The move comes about a month after Pump.fun was found to be testing a custom-built automated market maker, possibly to replace Raydium.

The US stock market closed down, with the Dow Jones Industrial Average falling 0.62%, the Nasdaq falling 1.71%, and the S&P 500 index falling 1.06%.

OKX-ETH/USDT is currently trading at $1901.16, with a 24-hour decline of 2.50%. Please be aware of market fluctuations.

According to BlockBeats, on March 19th, EOS Network announced that it will be renamed Vaulta and shift its focus to Web3 banking business. This transformation is accompanied by a token exchange scheduled for the end of May. Simultaneously launching the Vault Banking Advisory Committee, a team of experts in finance and blockchain industries dedicated to bridging the gap between traditional banking and decentralized systems. The committee members include executives from Systemic Trust, Tetra, and ATB Financial. Vault plans to retain its technology infrastructure from EOS Network, including smart contract architecture, decentralized databases, and blockchain connectivity. As part of its Web3 banking initiative, the platform will integrate with exSat, a digital banking solution focused on Bitcoin. Vaulta will leverage multiple partnerships with Ceffu, Spirit Blockchain, and Blockchain Insurance to expand its Web3 banking ecosystem.