The EOS token rallied for a second consecutive day, hitting its highest level since April 5 as investors reacted to the upcoming full rebrand to Vaulta. The surge also came alongside a sharp rise in volume processed by its decentralized exchange protocols.
EOS (EOS) rose to a high of $0.850, up 95% from its April lows, pushing its market cap to $1.3 billion. The rally occurred in a high-volume environment, with daily trading volume jumping by 67% to $428 million.
EOS jumped after the developers announced that the full rebrand to Vaulta will happen on May 14. The ticker symbol will also change from EOS to just A. The gains followed the announcement that EOS will fully rebrand to Vaulta on May 14, with its ticker symbol changing from EOS to A.
Vaulta aims to become a major player in blockchain-based banking. The platform will offer programmable contracts and settlement layers, enabling banks and fintech companies to launch scalable, cross-border financial services.
The team compares Vaultaâs ambition to that of Stripe, the payments giant that helps businesses accept online payments. However, Vaultaâs focus is on making it easier for traditional financial firms to tap into blockchain without needing deep technical expertise.
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Vaulta also hopes to become a major player in the real-world asset tokenization industry. In this, it will provide companies in the wealth and asset management industries with the technology they need to tokenize assets into digital tokens.Â
The EOS token also jumped after third-party data showed that the volume handled in its DEX protocols rose in the last 7 days. They handled tokens worth $$86.7 million, bringing the 30-day volume to $158 million.Â
EOS price also rose as the weighted funding rate turned positive and reached its highest level since Tuesday. A positive rate means that long traders are paying short sellers. It happens when the price of a perpetual contract is above the current price.
EOS price technical analysis
EOS price chart | Source: crypto.news
The 8-hour chart shows that EOS continued to climb, reaching $0.85âits highest since April 4. The token has broken above the ascending trendline that connects the key swing lows since March 11.
It also sits above the 50-period moving average, while several momentum oscillators are trending higher. The price is now approaching a key resistance level at $0.8770, which was the April 3 peak.
A breakout above this resistance could open the door to more gains, with the next major target being the psychological level at $1.00, about 20% higher than current levels.
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The U.S. Securities and Exchange Commission is expected to issue a decision soon on the proposed Litecoin exchange-traded fund filed by Canary Capital.
As of May 5, the SECâs designated deadline for a decision, Canaryâs Capital application has not been delayed. Unlike other crypto-related filings which have seen multiple delays, this raises speculation about a potential early response.
Bloomberg ETF analyst James Seyffart noted the unusual timing in a May 5 post on X, highlighting that the SEC has already moved to delay several filings but not this one. âIf any asset has a chance of early approval, itâs Litecoin,â he said, though he still considers a delay more likely.
The @CanaryFunds Litecoin ETF filing is due for a decision (possibly a delay) by Monday 5/5. SEC went early & delayed a bunch of filings but not this. If any asset has a chance of early approval it's Litecoin IMO. Personally think a delay is more likely but def something to watch pic.twitter.com/FilnUcMtUHâ James Seyffart (@JSeyff) May 4, 2025
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The Litecoin (LTC) ETF proposal was filed on Jan. 16 through Nasdaqâs 19b-4 process, which allows exchanges to request changes to list new products. The SEC, under Acting Chairman Mark Uyeda officially acknowledged the filing on Jan. 29, starting the formal review process. This step was a key turning point, as past attempts to launch ETFs tied to smaller cryptocurrencies had been discouraged under previous SEC leadership.
As of May 5, Litecoin is trading at about $87, with slight increases of 0.9% over the previous day and almost 10% over the previous two weeks. The daily chart shows a steady recovery from April lows, with the price holding above the 50-day moving average at $82.87. The relative strength index is at 56, indicating space for upward momentum without being overbought, while the Bollinger Bands are widening, indicating rising volatility.
Litecoin price analysis. Credit: crypto.news
The volume is steady but moderate, showing ongoing interest as opposed to transient hype. Support levels are located close to $82 and $78, and a close above resistance at $90 may mark a strong upward trend reversal. Although the outcome is still unknown, Litecoinâs market performance might improve if the ETF is approved. Traders are watching the SECâs next move closely.Â
Read more:Analysts project high approval odds for pending crypto ETFs as SEC delays mount