UMA Token Surges 91%, Reaching Yearly High With $300 Million Valuation

The native token of the Universal Market Access (UMA) protocol, UMA, has experienced a remarkable surge, soaring over 91% in the past 24 hours to achieve a yearly high of $4.101, bringing its market valuation to $300 million.

This surge was accompanied by an impressive 2943% increase in trading volume, reaching $421 million.

Reports indicate that the Total Value Secured (TVS) on the UMA network has seen substantial growth, reaching $775 million. This growth is indicative of the UMA network’s solid development and its expanding ecosystem.

Recent integrations with key platforms, including Index Coop and B Protocol, have contributed to the rising TVS. Index Coop, a decentralized structured product provider, has integrated UMA’s optimistic oracle to enhance its operations.

Specializing in making DeFi accessible through diversified token baskets, Index Coop will leverage UMA to rebalance products in a trust-minimized manner, enhancing decentralization and sustainability.

UMA To Launch Una Oval With Specific Aim, To Recover $100M Lost Annually To MEV

UMA has also unveiled plans to launch Una Oval, a solution designed to elegantly recover over $100 million lost annually to Miner Extractable Value (MEV). The launch of Una Oval is expected next week and aims to address the challenges associated with MEV in a sophisticated manner.

UMA’s recent surge, integrations, and innovative solutions showcase the protocol’s growing influence and ability to adapt to evolving market dynamics. As UMA continues to expand its ecosystem and address key industry challenges, its position in the decentralized finance landscape becomes increasingly prominent.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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Image Source: loft39studio/123RF // Image Effects by Colorcinch


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