UMA stands for Universal Market Access. It is a decentralized governance token which can be used to vote on decisions for the projects. It works on the Ethereum blockchain with DeFi protocol. UMA connects buyer and seller from anywhere on the planet.
Do you think that UMA Token could reach high?
In this guide, we will discuss in-depth the UMA price prediction for 2021 and beyond. In the end, you will have a clear picture of whether the token is a good investment.
Now, let us try to have some basic information on UMA.
What is UMA?
UMA is a protocol built on the Ethereum network which allows users to create collateralized synthetic cryptocurrency to track the price of digital assets. Synthetic assets are the class of assets, representing different underlying assets having the same value. UMA users are specifically eligible to design and create self executing and enforcing financial contracts.
The platform was found by Hart Lambur and Allison Lu.
UMA Technical Analysis
UMA established its entity in the crypto market on 25 May with a price of $1.36. The token started to variate immediately after the launch. Following the variations, UMA reached $2.38 by the end of June. The price further dropped to $1.71 by mid July and interestingly surged to $4.18 by the end of July. As UMA was getting recognized by the market, it’s price dramatically swelled to $7.63 by mid August. On a bullish note significantly reached $18.39 at the end of August.
Following a bullish run, the price progressively spiked to $23.35 by early September to break its previous price records. Later the price sank to $14.33 within a few days and UMA continued to decline further. Dreadfully, the token plunged to $5.96 by early October and managed to reach $10.09.
Later UMA consistently started to fall and slumped to as low as $6.38 by early November and steadily continued to recover. UMA managed to capture its resistance level by hitting $8.11 as the expansion of Bitcoin’s price rally. With certain variations, the token managed to be in the range between $9 and $10 throughout December. At the end of 2020, UMA was trading at $7.71.
UMA Price Prediction 2021
UMA continued to trade at $8.15 during the start of January. The token steadily started to rise further. The token could collaborate with some projects for the enhancement of its protocol and its price might likely pump. By the end of 2021, UMA might be traded at the $60 mark.
UMA Price Prediction 2022
UMA might initiate the year 2022 with a price of $62. Following the variations, the price may rise to a newer heights if the market continues to be bullish. The token might trade between $65 and $90 for several months and could hike to $110 to end the year 2022.
5 years UMA Prediction
In 5 years, UMA might be considered as one of the emerging cryptocurrencies in the world with higher prices as well as the higher market capitalization. The users and investors may be increased if the token focuses on certain inbound developments. By the end of 5 years UMA might reach the $300 mark.
UMA Market Prediction
Let us know what the market is thinking about the UMA’s price.
- WalletInvestor: As per WalletInvestor’s analysis, UMA would be traded at $26 by the end of 2021 and 79.671 by 2025.
- Gov.capital: According to Gov.capital, UMA could reach $25.16545 at the end of 2021 and would likely trade at $87.00785 by the end of 2025.
- CoinArbitrage: According to CoinArbitrage, UMA’s price could be $17.8355 at the end of 2021. In the next 3 years, UMA could reach as high as $127.637 and its lowest price could be $11.0223.
Our UMA Price Prediction
With a trading price of $8.15 in early January, UMA started the year 2021. Further the price started to rise and recorded an All-Time-High. As it is a DeFi token, its price might grow and it may reach newer heights.
UMA might concentrate on certain partnerships and developments to increase its user base as well as the investors. At the end of 2021, the token might be traded at $65 and could reach $350 in the future.
Yes, UMA is an ERC-20 token working on the Ethereum blockchain.
Yes, can be mined with an incentive program called Developer Mining.
UMA was founded by Hart Lambur and Allison Lu.
Yes, UMA might be a good investment if you are looking to invest for a long-term.