UMA Emerges as Top Gainer on CoinGecko with 134% Surge in 24 Hours
CoinGecko’s latest report on Jan. 19 reveals that UMA has secured the top spot as the highest gainer, with an impressive 134% increase in price over the past 24 hours. This surge in value comes as the Universal Market Access (UMA) protocol prepares for the launch of its Oval platform, scheduled for the week of Jan. 22. While details about the new product remain scarce, UMA has hinted that it will offer enhanced security for lending protocols.
Dune Analytics further highlights the remarkable growth of UMA and oSnaps, with a record Total Value Secured (TVS) of $775 million, a figure verified by a team member from the marketing team even before the official announcement of the upcoming product.
Earlier in the week, on Jan. 16, UMA gained attention by integrating the Optimistic Oracle from Index Coop to facilitate index rebalancing. These developments have propelled the project to outperform the broader cryptocurrency market, currently down 2.9% in the last week, as well as the Polygon Ecosystem, which has shown no change in the same period.
In stark contrast to the market trends, UMA has seen a remarkable 136.3% surge in the same timeframe, with the majority of gains occurring within the last 24 hours. According to DeFi Llama, UMA ranks as the ninth largest Oracle network globally, trailing behind industry giants like Chainlink, Chronicle, and Binance Oracle. With anticipation mounting for the Oval launch, there is growing speculation that UMA may surpass its previous all-time high price, currently 89.5% lower.
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