The EOS experienced significant volatility this week after the developers announced a major brand change and a change to a “new era in finance”.
EOS (EOS) initially reached a maximum of several weeks of $ 0.66,675 after the rebranding news before retiring at $ 0.5695. In a Tuesday press release, the developers confirmed that EOS would be renamed in Vaulta because it aims to become the main blockchain for the financial industry.
Vaulta will seek to fill the gap between traditional finance and the web3, focusing on industries such as wealth management, consumer payments, portfolio investment and insurance.
Its heritage management pillar will be propelled by Ceffu, a network providing Bitcoin (BTC) return. Its objective is to use the architecture of the vaulta virtual chain to help convert Bitcoin into an entirely liquid active ingredient and yield generator in the web3 banking ecosystem.
EOS will go to Vaulta in May. The new Vaulta token will have a yield of development of around 17%, coming from around 250 million tokens reserved for the awards. The new symbol of Ticker of the token will be revealed before the brand change.
The next EOS dismissal comes when the network has struggled to compete with other blockchains like Ethereum, Solana, Tron and BNB. According to Defi Llama, the total value of locked EOS amounts to $ 174 million, a modest figure since the total value of the industry exceeds $ 80 billion. EOS also has a stable market capitalization of only $ 10 million, much lower than other channels.
Other channels have renamed with a mixed success over the years. The most recent success was the transition from Fantom (FTM) to Sonic (s). The total value of locked Sonic jumped more than $ 763 million, while its market capitalization of the stable reserve increased to $ 1.2 billion.
The change of Polygon from Matic à Pol did not work well because it continued to lose market share in the layer of layer 2. In addition, the change of brand of Elrond in Multavevexex has not succeeded.
Technical analysis of EOS Price
The daily graphus shows that the EOS token has the bottom at $ 0.4295 this month. It was a notable level because it coincided with its lowest level in July, August, September and November of last year. It is a sign that bears are afraid of short-circuiting below this price.
EOS formed a giant quadruple background at $ 0.4295 whose neckline is $ 1,5408, its highest level in November from last year.
Consequently, the perspectives of the part are up as long as it remains above the quadruple low at $ 0.4295. A bullish escape would see the room jump from 175% to $ 1,410. A drop below the support at $ 0.4295 will indicate more downwards.
