Why Is EOS Pumping While Everything Else Crashes?
The $EOS token for the EOS blockchain is easily one of the best performing cryptocurrencies in the last seven days.
EOS is up a staggering 37.5% in the last seven days, and 47.8% over the last 30 days as it trades at $0.7939 at the time of writing.
These are particularly outsized gains when you examine the fate of virtually every other leading cryptocurrency over the last week. Market leader Bitcoin ($BTC) is down 4.3% in seven days, while its nearest runner-up, Ethereum ($ETH), shed 10.2%.
The biggest commercial layer 1 outside of Ethereum, Solana ($SOL) tumbled 14.3%, while Ripple’s cross-border payments-focused $XRP shed 13.6%.
Cryptocurrencies and equities are tumbling today after the US Trump administration announced a blanket 10% tariffs on all countries, with some key rivals and allies set to be taxed even higher than that, sparking fears of a global trade war.
Why is EOS outperforming all the top cryptocurrencies this week?
EOS describes itself as an enterprise-scale blockchain that allows developers to build applications that they can’t build anywhere else.
It launched in 2017, and since then, the affiliated $EOS token has risen to a market cap of $1.2 billion, making it currently the 72nd biggest cryptocurrency in the world.
In the middle of last month, EOS announced it was rebranding to Vaulta. It’s now adding Web3 banking and banking advisory services to its scope.
The rebrand will take effect in May this year, and as part of it, $EOS will also get a new ticket.
On Monday, EOS/Vaulta announced the Vaulta advisory board, an announcement which is responsible for the vast bulk of EOS’s recent gains.
The news made EOS shoot from $0.60 to its current price of $0.79, adding a little over 30% to its value. Investors quickly did a spot of profit-taking overnight, because EOS’s relative strength index has cooled down to 47 from the vastly overbought 85.
Also, considering the token appears to be unbowed by Trump’s tariffs, EOS holders can rest a little easier than other crypto fans knowing that they’ve likely safely consolidated their recent gains.
While EOS Pumps, traders snap up Best Wallet tokens in multimillion-dollar presale
EOS’s price pumping, even amidst a generally bearish market, is an important sign that diversity in crypto is here to stay.
Typically, most if not all cryptocurrencies broadly track the price swings of Bitcoin. Investors’ excitement over EOS’s rebrand to Vaulta is a sign that in spite of massive global uncertainties, people are still willing to take risks and support a project if it looks like it may have a vital place in a future digital economy.
Over in the presales market right now, another project like EOS is collecting all the smart money. The ICO is for the $BEST native utility token powering leading next-gen crypto wallet Best Wallet, a rival to Trust Wallet and MetaMask.
One of the key features of Best Wallet is its “Upcoming Tokens” tool, which selects the most promising crypto projects, often while still at presale, enabling users to make moves before everyone else.
Additionally, it aggregates the most rewarding staking opportunities to help users generate the most value out of their portfolios.
The Best Wallet app is on Google Play and the Apple Store and currently supports over 1,000 cryptocurrencies. It leverages Fireblocks’ MPC-CMP encryption to keep users’ assets secure.
So far, early investors have poured $11.5 million into Best Wallet’s $BEST token presale, making it a clear alternative to buying cryptocurrencies like EOS.
Follow Best Wallet on X and Telegram.
