Early use of UMA’s ‘priceless’ synthetic reflects promising but nascent market

Quick Take

  • Nine days after launch, UMA’s ETH/BTC “priceless” synthetic counts over $44,000 in open interest 
  • The token initially traded at a premium as high as 52% versus spot, although the spread has since collapsed 
  • Despite relatively muted market interest, the launch showcases the value of the “priceless” approach

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