The UMA Crypto Token was vertical on Friday, reaching its highest point since March, even if other cryptocurrencies recede.
UMA (UMA) surged to a high of $1.440, surpassing 40% from a weekly low. The rally pushed its market capitalization to over $112 million.
The token jumped after popular forecasting market platform Polymarket announced Elon Musk’s partnership with X.
Partnerships are important to UMA as they act as an Oracle provider for Polymarket. Uma’s optimistic Oracle provides a decentralized, unreliable mechanism to resolve market outcomes on the platform.
. @umaprotocol Protect @polymarket
I just wanted to let yall know https://t.co/ds5zphazkd
-kanishk khurana (⛺️,🔮) (@kanishkkhurana_) June 6, 2025
Polymarket may have chosen UMA because of its robust feature set, including its ability to handle a variety of data types, such as natural language questions. It also has a decentralized conflict resolution mechanism, which further improves its reliability.
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As a result, UMA prices have violated investors’ expectations that the deal could drive long-term growth given the massive scale of X. The platform is one of the biggest players on social media, with 240-300 million active users and over 650 million users each month.
So, X could increase the number of polymake users, which could lead to more charges for UMA. Uma’s Oracle makes money by earning a small fee for every outcome it resolves. In addition, reductions are necessary in the case of dispute resolution. It has dealt with 1,075 disputes over polymers over time.
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