In response to CoinGecko’s prime gainer report for Jan. 19, UMA holds the highest spot with a 134% value surge within the final 24 hours.
The triple-digit features are available in mild of the Common Market Entry (UMA) protocol’s Oval launch, which is anticipated the week of Jan. 22. Though minimal data has been launched, UMA has said that the product will give attention to defending lending protocols.
Dune Analytics goes on to focus on that UMA and oSnaps have skilled a surge in Whole Worth Secured (TVS), reaching an all-time excessive of $775 million, which was verified by a staff member from the advertising staff highlights that is even earlier than the announcement of the brand new product.
Earlier within the week on Jan. 16, the venture additionally garnered pleasure on X with Index Coop integrating the Optimistic Oracle to safe index rebalancing. The mixture of bulletins has since resulted within the venture outperforming the entire cryptocurrency market, which is presently down 2.9% within the final 7 days, and the remainder of the Polygon Ecosystem, which has seen no change within the final week.
In distinction, UMA has seen a 136.3% improve in the identical interval, with most of its features occurring up to now 24 hours.
In response to DeFi Llama, UMA is the ninth largest Oracle community on the planet, following names like Chainlink, Chronicle, and Binance Oracle. Due to this fact, as pleasure continues to construct in mild of the Oval announcement, the X consensus is that the venture may exceed its all-time excessive value, which is presently 89.5% decrease.