UMA (UMA) has risen 10.17% in the last 24 hours.

Gate News Bot news, on August 20, according to CoinMarketCap data, as of the time of writing, UMA (UMA) is currently priced at $1.41, rising 10.17% in the last 24 hours, with a high of $1.52 and a low of $1.22. The 24-hour volume has reached $147 million. The current market capitalization is approximately $126 million, an increase of $11.6 million compared to yesterday.

UMA is a decentralized truth machine. UMA's Optimistic Oracle (OO) can record any verifiable truth or data onto the blockchain. The OO validates data in stages: first, a claim is made, and after a challenge period, anyone can dispute the claim. UMA token holders can vote on disputes and earn rewards, with successful voters gradually owning a higher proportion of the protocol. Developers can use UMA's OO to build various applications, such as governance, prediction markets, insurance, cross-chain communication, and physical assets.

Recent important news on UMA:

1️⃣ Polymarket and UMA Collaborate to Upgrade Oracle System Polymarket announced that it will upgrade its oracle system to use UMA's Optimistic Oracle (OO). This upgrade aims to enhance the reliability and efficiency of the Polymarket platform, while also bringing new application scenarios and potential user groups to UMA.

2️⃣ EigenLayer, Polymarket, and UMA join forces to develop a new generation of oracle The tripartite collaboration aims to develop more advanced and decentralized oracle solutions. This cooperation not only showcases the potential of UMA technology but is also expected to drive innovation in the entire oracle field, bringing more attention and application opportunities to UMA.

3️⃣ UMA Price Prediction Draws Market Attention Several cryptocurrency analysis institutions have released predictions for the future price trend of UMA, sparking discussions in the market about UMA's long-term development prospects. These predictive analyses may have influenced investor confidence in UMA, partially explaining the recent rise in price.

From a technical perspective, UMA experienced a slight pullback after breaking through the $1.5 level, but overall it still maintains an upward trend. From a fundamental standpoint, UMA's continuous innovation in the oracle field and strategic collaborations with other projects have laid a good foundation for its long-term development.

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