UMA Sell-Off Takes Price 35% Lower From YTD Top; What’s Next?
UMA bulls have taken a break from pumping the token, given the magnitude of its price correction in the last 36 hours. UMA released 2 percent of its native tokens on decentralized exchange Uniswap.
However, since there were no UMA tokens in the market, the price had no way but to go north from there. UMA, as a token, represented users’ stakes in those pools, making it yet another yield farming token before traders looking to capitalize on the DeFi boom.