UMA Token Surges By 28% Despite General Bearish Trend

05/06 11:45

UMA (UMA), a DeFi token, has gained 28.7% in the last seven days, making it one of the biggest weekly gainers, despite the market's losses and little gains. The token began trading the week around $1.95, but on May 5, the token gained over 43% to break above the $3 price mark for the first time since August 2022. Although UMA's price has since slipped from such high levels, the DeFi token appeared to have found support and could be gearing for another breakout. UMA's price growth is also reflected by the growing traction on its platform, as Total Value Locked (TVL) on the UMA protocol has grown from $10.33 million to $11.12 million over the last two days. Moreover, the UMA Protocol announced that two new DAOs are set to integrate its latest blockchain product, the oSnap module, a unique governance solution aimed at merging on-chain and offchain governance systems.
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DisclaimerThe content above does not represent HTX's positions.HTX does not provide any trading recommendations.

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