EOS Surges 23% Ahead of Vaulta Rebranding
EOS has seen a massive 23% price hike today, driven by anticipation of its rebranding to Vaulta. The token hit an intraday high of $0.707 on April 1, with its market cap exceeding $1 billion.
Three key factors are fueling this rally. First, EOS is set to rebrand as Vaulta by May 2025, focusing on blockchain-powered banking solutions. The EOS token will transition to Vaulta, with a new ticker to be announced soon. This shift includes integrating exSat, a bitcoin banking solution.
Second, Vaulta will offer a staking yield of about 17%, backed by a 250 million token reward pool. This is significantly higher than Ethereum’s 2.03% and Solana’s 5.14%.
Lastly,derivatives market data shows growing bullish sentiment. Open interest in EOS futures rose over 30%, reaching an 11-month high of $144.14 million.
Technical analysts are optimistic. EOS has broken through a key resistance at $0.65 and is now eyeing $1. Analyst CW and World of Charts both see this as a potential continuation of the rally.
On the 1-day/USDT chart, EOS broke out of a descending wedge, a bullish signal.The Supertrend indicator is now bullish, and the Aroon Up is at 100%, indicating strong buying pressure.
The 4-hour chart shows a golden cross, with the 50-day moving average crossing above the 200-day SMA. This could signal a longer-term upward trend, with $1 as the next target.
