EOS
EOS Token Spikes 30% as Network Rebrands to ‘Vaulta’
Published
2 days agoon
By
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Blockchain network EOS announced its rebrand to “Vaulta” on Tuesday as it pivots towards “Web3 banking” in a bid to capitalize on growing demand for innovative financial products.
Eager to jump at the chance, traders have pushed the network’s native EOS token by 30% to $0.65 shortly after the reveal, CoinGecko data shows.
Despite the sudden surge, the token remains down by 188% from the all-time high of $22.89, showing the challenges the blockchain has faced since its explosive debut.
The transition to Vaulta is tentatively set for the end of May 2025, with the EOS token being swapped for the new Vaulta token, EOS said in a Tuesday statement.
The swap will be bi-directional for four months, allowing users to exchange their EOS tokens for Vaulta at a 1:1 ratio through a dedicated portal.
The Vaulta token will also be listed on the nearly 140 exchanges where EOS currently trades. The token ticker and additional technical details will be revealed at a later date, EOS said in a separate statement.
Vaulta’s “Web3 Banking OS” will provide a suite of tools to enable fractional ownership of real-world assets, staking, custody, and Bitcoin yield strategies, among other offerings, EOS said.
The platform will build on the existing EOS technology, making some key upgrades to improve how it works with other blockchains.
Smart contracts
One of the main upgrades is a feature called exSat, which will help further smart contracts on Bitcoin, allowing Vaulta to interact with other blockchain networks.
Vaulta’s system will feature one-second transaction finality, C++ compatibility, and Ethereum Virtual Machine (EVM) compatibility for smart contracts.
Through collaborations with Spirit Blockchain, which enables fractional ownership of real-world assets, and Ceffu, specializing in custody and yield strategies, Vaulta claims it will merge DeFi and traditional finance in a “secure environment.”
The platform also plans to establish a Banking Advisory Council to advise on the project’s direction, including fintech and web3 representatives from Systemic Trust, Tetra, and ATB Financial.
Launched in 2018 to challenge Ethereum, EOS initially garnered significant attention for its high transaction throughput and lower fees, owing to its unique delegated proof-of-stake (DPoS) consensus mechanism.
With its record ICO, raising a massive $4.1 billion, EOS was initially seen as a major contender in the blockchain space, touted as an “Ethereum killer.”
Within a year of its debut, the U.S. Securities and Exchange Commission (SEC) filed charges against Block.one, the company behind EOS, for conducting an unregistered securities sale.
Block.one ultimately settled the case by paying a $24 million fine, a penalty that was minimal compared to the $4 billion raised.
As time went on, the network struggled to meet expectations with frequent congestion issues and “mutual voting” allegations, leading to a significant loss of market confidence and a substantial drop in token value.
Edited by Sebastian Sinclair
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DOGE, BONK, ICP, EOS, Meme Coins Skyrocket
Published
3 months agoon
January 4, 2025By
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Cryptocurrency prices today show strong bullish momentum, with Bitcoin rallying to $98K from $92K in a single surge as it marks its 16th anniversary. Internet Computer (ICP) and EOS emerged as top gainers, each recording a 15% price jump over the last 24 hours. Additionally, meme coins like Dogecoin (DOGE) and Bonk (BONK) also skyrocketed by 15%, contributing to the positive market sentiment.
The global cryptocurrency market cap increased by 2.31%, reaching $3.49 trillion, while trading volume grew by 2%, hitting $123 billion. The Fear and Greed Index climbed to 60, up from last week’s 50, indicating rising market optimism among investors. Crypto prices today reflect a positive outlook, with most of the top 20 altcoins trading in the green over the past 24 hours.
Cryptocurrency Prices Today: BTC, ETH, XRP, and SOL Maintain Positive Momentum
Bitcoin (BTC) price rallied to $98K, showing strong bullish momentum. Ethereum (ETH), XRP, and Solana (SOL) also gained, with most major cryptos trading in the green. The cryptocurrency prices today reflect a stable upward trend across key digital assets.
Bitcoin Price Today
Bitcoin price was trading at $98,267, up 1.26% in the last 24 hours. Its 24-hour low and high were $96,079 and $99,003, respectively. MicroStrategy announced plans to raise more capital for additional Bitcoin purchases, boosting investor confidence.
BTC ETF saw a significant inflow of $655 million on Jan 3. Fidelity led the purchases with $356 million, followed by Ark & 21Shares at $222 million, Bitwise at $61 million, and Grayscale at approximately $9 million. BlackRock’s data on ETF inflows is still awaited. Crypto prices today continues to reflect strong interest in Bitcoin investments.
Ethereum Price Today
Ethereum (ETH) price was trading at $3,596, reflecting a 4% increase in the last 24 hours. Its 24-hour low and high were $3,422 and $3,628, respectively. ETH’s market cap stands at $433 billion, with a trading volume of $21 billion over the past 24 hours.
According to SoSo Value data, ETH ETF recorded an inflow of $24.9 million. Fidelity led the purchases with $27 million, while Grayscale sold $2 million worth of ETH ETFs.
XRP Price Today
XRP price was trading at $2.47, showing a 2% increase over the last 24 hours. Its 24-hour low and high were $2.40 and $2.50, respectively. The trading volume saw a 12% drop, now standing at $6 billion.
Solana Price Today
SOL price was trading at $216, marking a 5% rise in the last 24 hours. Its 24-hour low and high were $206 and $217, respectively. Rumors of an airdrop for Solana Phantom Wallet users have sparked excitement within the community, driving positive sentiment. The cryptocurrency prices today shows increasing interest in Solana, contributing to its strong performance.
Meme Cryptocurrency Prices Today
The meme cryptocurrency market today displayed strong momentum, with most top meme coins trading in the green. Dogecoin (DOGE) surged by 14% and was trading at $0.39, while Shiba Inu (SHIB) saw a 9% rise over the last 24 hours. Other notable meme coins like BONK, PEPE, and WIF gained between 5% to 15%. However, Pudgy Penguins (PENGU) bucked the trend and remained in the red, making it one of the few exceptions in the meme coin rally.
Top Cryptocurrency Gainers Prices Today
Internet Computer
ICP price was trading at $12.39, reflecting a significant 15% surge in the last 24 hours. Its 24-hour low and high were $10.80 and $12.53, respectively. The market cap stands at approximately $6 billion, with a trading volume of $315 million.
EOS
EOS price was trading at $0.93, showing a notable 15% rise in the last 24 hours. Its 24-hour low and high were $0.81 and $0.95, respectively.
Top Cryptocurrency Losers Prices Today
FTX Token
FTX Token (FTT) emerged as the worst performer today, dropping 9% in the last 24 hours. Its 24-hour low and high were $3.43 and $3.82, respectively. Meanwhile, FTX has begun the process of distributing funds to creditors under its Chapter 11 Plan of Reorganization, signaling progress in the ongoing recovery efforts.
Virtual Protocols
VIRTUAL price was the second-worst performer today, slipping by 6% in the last 24 hours. Its 24-hour low and high were $4.117 and $4.43, respectively. The market cap stands at $4.18 billion, with a trading volume of $468 million.
Besides this, the hourly chart shows bullish momentum, with Bitcoin and major altcoins trading upward in the last hour. Analysts from Coingape reported that 2025 is expected to be the year of ETFs, sparking discussions on which crypto ETF will secure approval first.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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