#vaulta EOS, once celebrated as a formidable rival to Ethereum, has seen a significant price increase.
The rebranding to Vaulta, expected in late May, shifts EOS’s focus to Web3 banking.The focus on Web3 banking services could spur more demand for the Vaulta token.EOS, once celebrated as a formidable rival to Ethereum, has seen a significant price increase, reigniting curiosity about its potential in the evolving cryptocurrency landscape.Currently trading at $0.6959, after a 3.3% increase in the last 24 hours and a 9.3% increase in the last week, can EOS regain its former prominence by leveraging its new identity after the Vaulta rebrand?EOS Price PredictionEOS has shown encouraging resilience over the past month, buoyed by a 17.0% jump, which suggests a possible change following the Vaulta rebrand.Furthermore, 24-hour trading volume increased by 12.62% to $223.84 million, indicating increased activity and interest among traders.However, a 2.53% decline in derivatives open interest to $134.36 million, according to Coinglass data, suggests caution, as some traders may be hesitant to fully invest despite the bullish momentum.Technically, EOS is trading above its 50-day moving average, a sign often interpreted as bullish by analysts monitoring short-term trends.The Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) indicators are also bullish on EOS. However, its position below the 200-day moving average reveals a persistent long-term bearish outlook, underscoring the challenges ahead.In the derivatives market, a long/short ratio of 1.0392 reflects a slightly bullish sentiment, with top traders on platforms like Binance and OKX favoring long positions.The rebranding to Vaulta, expected in late May, shifts EOS’s focus towards Web3 banking, with the aim of leveraging its infrastructure for innovative financial services through partnerships with Ceffu, Spirit Blockchain, and Blockchain Insurance Inc.
