Upbit Halts EOS Services Amid Network Rebranding – Coincu

Upbit will suspend EOS and IQ token services on June 4, 2025, as part of an EOS network rebranding to Volta, according to a company announcement made on May 30, 2025, in Korea.

This rebranding signals a shift in focus for Volta, emphasizing Web3 financial services. The suspension aims at a seamless token swap with minimal user disruption.

EOS to Volta Swap and Market Adjustments

According to Upbit’s official announcement on May 30, 2025, deposit and withdrawal services for EOS and IQ tokens will cease operations starting June 4, 2025. The move aligns with the EOS network’s decision to rebrand to Volta, accompanied by a 1:1 token swap with the new symbol, “A.”

Post-rebranding, trading markets EOS/KRW and EOS/BTC on Upbit will be suspended on June 5, 2025. Upon reopening, they will adopt the new tickers A/KRW and A/BTC. This rebrand includes plans to focus Volta’s development on Web3 financial services, such as wealth management and payments.

Community discussions across platforms like Discord and Reddit reflect generally favorable anticipation, emphasizing minimal disruption due to the 1:1 swap. Official statements have ensured ongoing communication to maintain asset security throughout the process. As Brendan Blumer, CEO of EOS, stated, “سيتم استبدال رموز EOS بـ $A في 14 مايو، بدعم تبادل 1:1 بدون خسارة.” (EOS will be swapped for $A on May 14, with 1:1 exchange, no loss of value).

Historical Context, Price Data, and Expert Analysis

Did you know? Token swaps, while regarded as routine by many in the crypto sector, often bring short-term trading disruptions mirroring those observed during prominent network upgrades, such as the transition from SAI to DAI.

As of 04:22 UTC on May 30, 2025, EOS, currently trading at $0.72, shows a notable price fluctuation with a 5.68% drop over the past 24 hours. The market has seen a 27.15% increase over 90 days, with a fully diluted market cap of $1.51 billion, according to data from CoinMarketCap.

Analysis by Coincu Research highlights that the rebranding could enhance user confidence in Volta by realigning its technological offerings with market demands. This evolution may catalyze regulatory adjustments and a deeper focus on compliance, aligning with significant crypto regulatory frameworks in South Korea.