As you probably know already: The market is extremely bullish today. DTNUSDC is up 400% today? Also, most of defi has seen big gains of 20-30%. However, UMAUSD has been a sleeper. The volume is extremely low.
This could be seen two ways:
A) Low volume means little interest since UMA has had a history of failed pumps.
B) Low volume means the whales are waiting for a higher price confirmation/more buying pressure before entering.
Also side note: Just a little bit of manipulation I noticed. Both of those volume bars were BUY orders. Notice how they make it appear that it was a sell order, and then sell a small amount afterwards to drive price down.
This could be seen two ways:
A) Low volume means little interest since UMA has had a history of failed pumps.
B) Low volume means the whales are waiting for a higher price confirmation/more buying pressure before entering.
Also side note: Just a little bit of manipulation I noticed. Both of those volume bars were BUY orders. Notice how they make it appear that it was a sell order, and then sell a small amount afterwards to drive price down.