Time

<p>UMA, the native cryptocurrency of the Universal Access Protocol, has been on a strong price rally recently surging all the way to $4.5. Just within the last two days, the <a href="https://coingape.com/uma-price-jumps-80-in-a-day-with-3-million-shorts-liquidated-heres-why/" target="_blank" rel="noopener">UMA price</a> has gained a staggering 128% with skyrocketing trading volumes.</p> 
<h3 id="uma-price-and-funding-opportunities">UMA Price And Funding Opportunities</h3> 
<p>In a surprising turn of events, $UMA has successfully reclaimed its High Time Frame (HTF) range on the daily chart and is currently undergoing re-tests. What makes this situation particularly intriguing is the -2.00% funding on Bybit, resulting in long positions earning a staggering 6% daily or over 2,000% annually. Traders have reported substantial gains, with one individual claiming an overnight profit of $5,000+ solely from funding fees after opening a relatively small position.</p> 
<p>If funding remains consistent, in just two more days, this trader anticipates the potential for enough earnings from funding fees alone to render the trade risk-free, <a rel="nofollow" href="https://twitter.com/CredibleCrypto/status/1748540328708075632" target="_blank">reports</a> CrediBuLL Crypto. However, it’s crucial to note that this is an atypical scenario, and caution is advised for those attempting to capitalize on it. Effective risk management is strongly recommended.</p> 
<p>In another noteworthy development, an address that has remained dormant for a year (0x276…1f1ec) suddenly deposited 187,000 UMA to #Coinbase, valuing it at 1 million US dollars. This address had previously transferred 370,000 UMA from the exchange at an average price of $2.08 in February 2023, resulting in a floating profit of 1.13 million US dollars. The recent activity involves transferring half of the tokens to Coinbase and the other half to a new address (0xCdE…02d7F).</p> 
<p>$UMA, <a rel="nofollow" href="https://twitter.com/ai_9684xtpa/status/1748547942665925042" target="_blank">identified</a> as an optimistic oracle project, has witnessed a remarkable 40% increase in the last 24 hours, adding further intrigue to the unfolding events in the crypto space. Stay tuned for more updates as the situation develops.</p> 
<h3 id="defi-and-oval-launch">DeFi and Oval Launch</h3> 
<p>UMA is currently ranked as the 9th largest Oracle network globally by DeFi Llama, positioning it behind industry giants like Chainlink, Chronicle, WINKLink, Pyth, and Binance Oracle.</p> 
<p>The surge in UMA’s price is attributed to robust network growth. According to Dune Analytics, both UMA and oSnaps have witnessed a significant increase in their Total Value Secured (TVS), reaching an all-time high of over $774 million.</p> 
<p>Anticipation is building as the highly awaited Oval launch of the Universal Market Access protocol approaches next week. This has contributed to a notable uptick in the cryptocurrency’s value. In a recent tweet, developers expressed confidence that the forthcoming service would play a pivotal role in addressing risks within the decentralized finance (DeFi) sector, particularly targeting the challenge of maximal extractable value (MEV).</p> 
<p>The post <a href="https://coingape.com/breaking-uma-price-rallies-with-unusual-funding-opportunities-time-to-long/">Breaking: UMA Price Rallies With Unusual Funding Opportunities, Time To Long?</a> appeared first on <a href="https://coingape.com">CoinGape</a>.</p>

Breaking: UMA Price Rallies With Unusual Funding Opportunities, Time To Long?

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