The cryptocurrency EOS, recently rebranded as Vaulta, is showing positive market trends, signaling recovery after recent declines.
Market Indicators
EOS, now known as Vaulta, reached an intraday high of $0.85 on May 16, breaking a 6-day downtrend. Since early April, the currency has risen by 48%, increasing its market cap to approximately $1.27 billion. Increased activity on decentralized exchanges has also contributed to this growth, with a total trading volume of $102.49 million for the week.
Technical Analysis
Technical analysis shows a breakout from an ascending trend, which is typically considered a bullish signal. Current indicators, such as the 50-day moving average and the Relative Strength Index (RSI), confirm the upward momentum, with the RSI sitting at 58, indicating potential for further growth.
Vaulta's Goals and Ambitions
Vaulta aims to reshape blockchain-based banking, offering programmable smart contracts and settlement layers to simplify services for banks and fintech companies. The rebranding is backed by major exchanges like Binance and KuCoin, and a 1:1 swap of EOS tokens to A has already been made available.
The transition to Vaulta has generated optimism within the community, perceived as a move towards real-world utility and improvement in blockchain service structures.
