EOS crypto, now known as Vaulta with the ticker ‘A’, has been making a strong recovery in the cryptocurrency market. Just days after rebranding, the token surged to an intraday high of $0.85 on May 16, breaking out of a 6-day downtrend that started on May 10. This rally has seen EOS/Vaulta climb approximately 48% from its April lows, boosting its market cap to around $1.27 billion.
One of the driving forces behind this rally is the increased on-chain activity on EOS-based decentralized exchanges. According to DeFiLlama, trading volume on these DEXs has been on the rise, with $102.49 million worth of tokens processed in just the past week. This brings the 30-day total close to $280 million, indicating a growing interest in EOS/Vaulta.
In addition, the positive funding rate on perpetual futures has remained in the green for 8 consecutive days. This signifies a bullish sentiment, as long traders are paying shorts, indicating a demand for long positions.
A significant development that has added to the bullish momentum is World Liberty Financial (WLFI), a crypto fund associated with President Donald Trump, acquiring 3.64 million EOS tokens for approximately $3 million. This move is seen as a vote of confidence in the project’s rebranding to Vaulta.
From a technical perspective, the 1-day EOS/USDT chart shows a breakout from a multi-week ascending broadening wedge pattern, which is typically considered bullish. The token is now poised to break out of a descending broadening wedge, setting the stage for further upside potential. EOS/Vaulta is currently trading above its 50-day moving average, with momentum indicators like the RSI trending higher.
If the rally continues and EOS/Vaulta breaks past the $0.8770 resistance level, it could pave the way for a push towards $1.00, a key psychological level. Further bullish momentum could even drive the token towards $1.50, its high from last December. Some traders have also noted early signs of a cup-and-handle pattern, hinting at a potential significant breakout.
Since transitioning to Vaulta on May 14, community sentiment has become increasingly positive, viewing the rebrand as a step towards real-world utility. Vaulta aims to revolutionize blockchain-based banking by providing programmable smart contracts and on-chain settlement layers for banks and fintech companies to launch scalable, cross-border services without requiring in-depth blockchain expertise.
The team behind Vaulta has compared its ambitions to Stripe, the global payment processor, but tailored for the blockchain space. Major exchanges like Binance, KuCoin, MEXC, and HTX have already pledged support for the rebranding and the 1:1 EOS-to-A token swap.
In conclusion, EOS/Vaulta is showing strong signs of recovery and bullish momentum, with technical indicators and on-chain activity supporting its upward trajectory. The rebranding to Vaulta has sparked optimism in the community, positioning the token for potential future growth in the evolving cryptocurrency landscape.