What is the difference between múa and the other verb for dance?
Múa: Usually for performance. You can see someone múa on a stage.
Nhảy: Usually you nhảy with a partner, or dancing with EDM (i.e. not for performance).
Well, I've never been aware of its meaning, but this is the best definition I can make.
Makes a lot of sense if Nhảy also means "jump".