The investment activity of World Liberty Financial (WLFI), linked to Donald Trump, has triggered a rise in the EOS token price. This article explores the details of this investment and its implications.
WLFI's Investment in EOS
On May 16, the EOS token surged over 9% after WLFI invested $3 million in the cryptocurrency. According to on-chain data, WLFI acquired approximately 3.636 million EOS tokens for 2.996 million USDT at an average price of $0.824 per token. The value of EOS before the investment was about $0.77, and within a day, the price climbed to $0.86, but later dropped to $0.8009, marking a 1.98% decline over 24 hours.
Rebranding to Vaulta and Token Swap
The surge in EOS coincides with the project's rebranding effort. The project is transitioning to Vaulta, a Web3 banking platform aimed at expanding its presence in decentralized finance. EOS tokens are being swapped 1:1 for a new token labeled $A, which began on May 14 and is supported by major exchanges including Crypto.com.
Future of the EOS Token
Traders are closely watching whether EOS can hold its value above $0.84. If support weakens, there is a risk of a decline, especially in unfavorable market conditions. However, if investor interest remains, recent advances could herald a longer upward trend due to the changes associated with the rebranding.
The investments linked to WLFI and the rebranding to Vaulta have positioned the EOS token as a key topic in the cryptocurrency market. The question remains whether this rally will continue or dissipate after the initial excitement.
