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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/uma-cryptocurrency-thrives-despite-bitcoins-decline/" data-wpel-link="internal">UMA Cryptocurrency Thrives Despite Bitcoin’s Decline</a><br></p>
<p style="text-align: justify">Last week, UMA made headlines with its rise, delighting investors with gains over 28% despite <a href="https://en.coin-turk.com/bitcoin-struggles-to-break-the-38000-resistance-level/" data-wpel-link="internal">Bitcoin</a>‘s fall. Moreover, the rate of increase in UMA’s price over the past week exceeded 200%. Considering the current situation of UMA, it was observed that derivative investors invested $130 million in UMA and open interest rose over 24% in the last 30 hours.</p> 
<h2 style="text-align: justify" id="comments-on-uma">Comments on UMA</h2> 
<p style="text-align: justify"><strong>Coinglass</strong> statistics indicate that UMA’s open interest climbed to $130.16 million, representing an increase of 32.08%. The derivative volume in UMA also increased by 32.55%, surpassing $3.01 billion. The rise in open interest occurred just before an eagerly anticipated new update.</p> 
<p style="text-align: justify">Another point of interest for investors was the total liquidation for UMA reaching $5.83 million. This included the liquidation of $2.20 million in long positions and $3.63 million in short positions. The liquidation in the last hour alone amounted to over $550,000.</p> 
<p style="text-align: justify">A comment about the upcoming update was made by UMA’s Co-founder <strong>Hart Lambur</strong> recently. Lambur hinted that the solution was expected to be released within the week.</p> 
<h2 style="text-align: justify" id="current-status-of-uma-price">Current Status of UMA Price</h2> 
<p style="text-align: justify">During today’s rise, the UMA price momentarily exceeded the $7 level, surpassing last year’s highest value and marking an important milestone. This was a notable achievement as the overall trend in the crypto market raised questions, especially after Bitcoin’s price dipped below the $39,000 level.</p> 
<p style="text-align: justify">While all this was happening, UMA’s price experienced a 28% increase on Tuesday, January 23. As of writing time, UMA was trading just below the $6 level at $5.978.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-306315" src="https://coin-turk.com/wp-content/uploads/2024/01/uma-usdt-kac-dolar.png" alt="" width="1567" height="857"></p> 
<p style="text-align: justify">The altcoin hosted a 27.20% increase during the same period and reached a market value of $480.66 million. On the other hand, UMA’s 24-hour trading volume was calculated at $413.90 million, reflecting a significant increase of 38.04%. Moreover, UMA’s monthly rise was 192%, while the weekly gain reflected an incredible rate of 211%.</p> 
<p style="text-align: justify">A whale drew the attention of the entire crypto world by withdrawing 95,000 UMA tokens worth $650,000 from <strong>Coinbase</strong> on Monday. Following the transaction, Scopescan shared on platform X that UMA’s price moved contrary to Bitcoin, achieving a 40% jump.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/uma-cryptocurrency-thrives-despite-bitcoins-decline/" data-wpel-link="internal">UMA Cryptocurrency Thrives Despite Bitcoin’s Decline</a></h5>

UMA Cryptocurrency Thrives Despite Bitcoin’s Decline

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