$UMA $TRB $PYTH Comments [UMA]
Binance's growth champion! UMA surged 50%: in-depth analysis for you!
[Project Introduction]
UMA is a blockchain infrastructure, mainly building projects Across (cross-chain bridge) snapshot (voting platform) UMA oracle
UMA oracle is an important part of the protocol, helping contracts obtain external data to ensure the correctness and security of their operations
Current price: $4.2
Market value: $270 million
Currently ranked by market value, UMA ranks fourth in the oracle track
[Two major reasons for the surge]
1. Ecological blowout
May 9: Web3's largest donation platform gitcoin and Web3's largest voting platform (snapshot) built on UMA are integrated
The price of ACX, a new cross-chain bridge built based on UMA, has performed strongly, and its market share has soared by 30%
2. Sector linkage
After TRB's surge last year, UMA, a project in the same oracle sector, began to surge, rising more than 3 times. The surge in TRB has attracted people's attention and purchase of UMA
[Summary]
Although UMA ranks fourth in the oracle track, the use of UMA Oracle projects are very powerful
For example, the use of ACX to build a new cross-chain bridge, the largest voting website (snapshot) of Web3, etc.
Compared with the market value of Dragon 3 TRB $340 million, UMA still has room for growth
Brothers on the train can hold it patiently
Brothers who have not boarded the train are currently at a high price, and it is not recommended to buy immediately. You can wait for the price to fall back before boarding
You can also pay attention to other projects in the oracle sector: Dragon 2 Pyth, etc.
[Little Knowledge]
What is an oracle?
Oracles are projects that provide data to Defi projects
Link is the leader in oracles
Many Defi projects need to use oracles to obtain currency prices or other information off the chain, such as stock prices, weather forecasts, etc.
Official website: https://uma.xyz/
Twitter: https://twitter.com/UMAprotocol
Intent on a new cross-chain bridge: https://app.across.to/bridge
