​EOS Price Soars 22% Ahead of Vaulta Rebrand, Market Cap Surpasses $1.2B

Crypto asset EOS experienced a significant 22% price surge on Monday, reaching an intraday high of $0.84 as anticipation builds ahead of its upcoming rebrand to Vaulta.

What Happened: EOS rose 22% over the past 24 hours to $0.838 at 8:34 ET (12:34 GMT), extending gains that began after the project announced its rebranding plans. The project’s native token, EOS, will fully transition to Vaulta’s token, ticker A, on May 14 in a 1:1 swap.

The rebrand will see EOS pivot towards blockchain-powered banking solutions aimed at bridging traditional finance with decentralized tools, according to a statement from the project. No changes will be made to the project’s existing infrastructure or state history during the transition, which will also see the integration of exSat, Vaulta’s Bitcoin banking gateway.

The project’s market cap now stands above $1.2 billion, while trading volume surged 285% for 24 hours to nearly $500 million. The surge in trading activity is likely linked to the upcoming launch of Vaulta, and investors are also positioning ahead of the token swap, which can be executed via the Vaulta Swap Portal or on supported exchanges.

See Also: Best Cryptocurrency Scanners

Technical Analysis: In the derivatives market, traders are largely positioning for further gains in EOS, with puts, or bearish bets, priced at a slight premium to calls, or bullish bets, on Monday morning. The options market is also pricing in around 15% move in either direction by the time the puts and calls expire in mid-May, after the rebrand is completed.

Analysts Contact: Point email to [email protected]