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UMA Token Surges by 10% After Partnership with DappBack

UMA Token Surges by 10% After Partnership with DappBack

UMA protocol’s native token has seen immense growth following the collaboration with the dApp development platform.

On March 1st, UMA announced that they have partnered with DappBack which rewards users for participating in the development of Web3. This allows users to earn UMA tokens for completing even the most basic tasks like visiting websites and reading articles.

Right after the announcement, based on the statistics by CoinGecko, the UMA token pretty much doubled its initial price, reaching $11.52. However, it steadily went back to the $8 mark by March 3rd but sprung back up to $10 the same day.

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Overall, the UMA token saw a price increase of almost 10% in the past 24 hours and grew by more than 97% over the last seven days.

The UMA protocol has been around since 2018, launched by ex-Goldman Sachs employees Hart Lambur and Allison Lu. It is an open-source network on the ETH blockchain that allows the development of DeFi products.

At the moment of writing this article, the UMA token sits at an average price of $9.70, with 65 million tokens currently in circulation.

Aaron S., Editor-In-Chief
Having completed a Master’s degree on Economics, Politics & Culture for the East Asia region, Aaron has written scientific papers with a comparative analysis of the differences between US’ Western and Japan’s Collective forms of capitalism, 1945-2020.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

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