UMA (UMA) has risen 22.30% in the last 24 hours.

Gate News Bot News, July 22, according to CoinMarketCap data, as of the time of writing, UMA (UMA) is currently priced at $1.67, rising 22.30% in the last 24 hours, with a high of $2.02 and a low of $1.13, and a 24-hour volume of $301 million. The current market capitalization is approximately $148 million, with an increase of $26.9 million compared to yesterday.

UMA is a decentralized truth machine. UMA’s optimistic oracle (OO) can record any verifiable truth or data on the blockchain. The OO verifies data in stages: first, a statement is made, followed by a challenge period, during which a vote is conducted if there is a dispute. UMA token holders can participate in the operation of the OO by staking and voting, earning up to 21% APR. Developers can use UMA as a backbone to build applications for governance, prediction markets, insurance, cross-chain communication, and real-world assets.

Important news about UMA recently:

1️⃣ EigenLayer, Polymarket, and UMA collaborate to develop the next generation of oracles The three parties are working together to enhance blockchain oracle technology, which is expected to bring more application scenarios and value to UMA. This collaboration highlights UMA’s technical strength and industry position in the oracle field, which may drive further expansion of its ecosystem.

2️⃣ UMA Governance Mechanism Causes Controversy Recently, the Polymarket community expressed dissatisfaction with the participation of UMA whales in oracle voting, accusing them of market manipulation. This incident highlights the complexity of decentralized governance and may prompt the UMA team to reassess and optimize its governance mechanisms to enhance community trust and participation.

3️⃣ UMA suggests developing MEV-related solutions The UMA team hinted at developing solutions related to Maximum Extractable Value (MEV), which has led to a significant rise in the price of UMA tokens. This indicates a positive market attitude towards UMA’s innovative capabilities in the DeFi space, potentially bringing new growth points to the project.

From a technical perspective, UMA’s recent price trend has been strong, breaking through several resistance levels. However, considering the rapid rise in the short term, investors should remain vigilant about the potential risk of a pullback.

This message is not intended as investment advice; investors should be aware of market volatility risks.