Amid the market’s bear struggle, the EOS blockchain network’s token price attains an unexpected rally. EOS has been struggling for years, losing more than 100% of its value from ATH, but things have changed today, as it surged 32% within hours. Although the price remains 97% down from the peak, this gain is significant, leaving investors curious, especially as scammer activity around the blockchain network seems high. Let’s discuss.
Why is the EOS Price Surging Today?
The EOS blockchain network recently announced its rebranding to Vaulta on March 18, 2025, and it has been strategically shifting towards Web3 banking. This rebranding was more critical as the EOS token lost traction due to regulatory and governance challenges and network congestion issues.
Despite its launch as the Ethereum killer and high popularity, the network and its native token struggled against other blockchains.
Although the transition is scheduled for May 2025, the investors’ sentiments were influenced, resulting in a surge in the EOS worth. Soon after the rebranding news and revelation of the swapping of EOS to a new Vaulta token at a 1:1 ratio, the EOS’s value began to surge.
EOS chart reveals it jumped from $0.49 to $0.65 within a few hours. However, despite the surge, it remains 97% down. Interestingly, the difference may continue to rise as the scammer begins to target the holders.
Scammers Address Poisoning Attack Looms
Amid the excitement of the EOS price rally, holders face major scam threats. The security firm SlowMist warned the holders of the fraudulent actors using the address positioning scheme, where they send 0.001 EOS transactions to users.
More importantly, they do this with fake addresses resembling legitimate trading platforms to seem real, and the user makes the transition to the wrong addresses.
Such crypto scams are quite common in the trading industry, where scammers trick investors into copy-pasting the wrong address, resulting in the wrong fund transfers.
This also builds serious theft concerns, indirectly connecting to declining investor interest and price drops.
Will The EOS Price Rally Continue?
The EOS token has entered a significant downtrend, losing 10% since the peak of $0.65. It currently trades at $0.5816 with a market capitalization of $903.64M. This decline occurred as sellers became active in the market.
Notably, scammers also affected investors’ sentiments. Besides, Jerome Powell’s speech is also influencing the performance of digital assets today. Amid this volatile market, the EOS price rally is at risk. Buyer dominance and market recovery are a must for the continuity of this rally.
The post EOS Price Surges 30% Amid Rebrand, But Scammers Target Holders: What’s Happening? appeared first on CoinGape.
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