DL News • Oct 02, 23
Friend.tech’s summer boom translates to 20% of Base transaction fees
Friend.tech, the Ethereum layer 2 from crypto exchange Coinbase, generated about 20% of Base's fees over a seven-day period.
Create a Coinbase account to buy and sell Numeraire on the most secure crypto exchange.
Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards.
The price of Numeraire has risen by 3.82% in the past 7 days. The price declined by 1.73% in the last 24 hours. In just the past hour, the price shrunk by 0.08%. The current price is $13.09 per NMR. Numeraire is 92.23% below the all time high of $168.49.
The current circulating supply is 6,168,126.723 NMR.
Numeraire is an Ethereum token that powers Numerai, a San Francisco-based hedge fund that crowdsources artificial intelligence to make investments in major stock markets around the world. Numeraire (NMR) holders can stake their NMR tokens every week on specific predictions. Successful predictions are rewarded with more NMR.
Numerai is a network that works as a hedge fund and enables users to trade equities on the . As per , the platform uses the technology of artificial intelligence (AI) and machine learning to make investments in stock markets globally. The platform aims to provide quality data that is clean, regularized, and usable. In simple words, Numerai is blockchain-based software that gives stock market forecasts and makes investments based on artificial intelligence.
Today, one of the major problems of making forecasts for the stock market is reliance on historical data. As per , most data analysis models use historical data and leave the current data to make predictions. This degrades the quality of data and sometimes makes it completely useless. Numerai intends to solve this problem by using artificial intelligence that uses current data to make predictions. By using machine learning, platform users can make trades based on more relevant and up-to-date data.
Coming to the platform’s work, Numerai is essentially a global artificial intelligence tournament to solve the stock market. Users download data, build a model, and upload their predictions. The platform turns the stock market into a big data science problem and incentivizes the participants to make correct predictions. The platform encrypts the data and provides it without any cost.
To achieve its vision of providing quality data, the platform offers two applications for different types of traders:
To operate everything, the native of the platform, Numeraire (NMR), is required. It should be noted that Numerai is the platform, and Numeraire is the token. Running on Ethereum, NMR is an token and also the platform’s . The token works primarily as a utility token and acts as the payments method on the platform. NMR executes all the software operations and is also used for staking the outcomes of the predictions. The token is given out as incentives to participants of the Signals app and Tournament app.
Craib is a Cornell University graduate in mathematics and economics. Before Numerai, he worked as a data scientist at an asset management firm. Along with Geoffrey Broadway and Xander Dunn, he launched the whitepaper of the platform on February 20, 2017.
According to , the project raised over $26.5 million through five rounds of funding from 2016 to 2021. The project didn’t conduct an initial coin offering (ICO) and launched its NMR token on the Ethereum mainnet in 2017. On the contrary, the project issued one million tokens and distributed them to various data scientists based on their contributions to the platform.
The platform on its two applications, Signal and Tournament, allows staking. The participants who provide trading strategies and predictions on the Signal and Tournament applications are scored and rewarded with new NMR tokens based on their performance. The decides whether the user has made right or wrong predictions and whether the user should be rewarded or have their stake burned.
Numeraire has a limited maximum supply and is capped at 11 million NMR tokens.
Assets with the biggest change in unique page views on coinbase.com over the past 24 hours.
The current market cap of Numeraire is $80.56M. A high market cap implies that the asset is highly valued by the market.
The all-time high of Numeraire is $168.49. This all-time high is highest price paid for Numeraire since it was launched.
Over the last 24 hours, the trading volume of Numeraire is $7.26M.
The current circulating supply of Numeraire is 6.2 million.
The median time that Coinbase customers hold Numeraire before selling it or sending it to another account or address is 29 days.
Numeraire ranks 92 among tradable assets on Coinbase. Popularity is currently based on relative market cap.
Currently, 92% of Coinbase users are buying Numeraire. In other words, 92% of Coinbase customers have increased their net position in Numeraire over the past 24 hours through trading.
Certain content has been prepared by third parties not affiliated with Coinbase Inc. or any of its affiliates and Coinbase is not responsible for such content. Coinbase is not liable for any errors or delays in content, or for any actions taken in reliance on any content. Information is provided for informational purposes only and is not investment advice. This is not a recommendation to buy or sell a particular digital asset or to employ a particular investment strategy. Coinbase makes no representation on the accuracy, suitability, or validity of any information provided or for a particular asset. Prices shown are for illustrative purposes only. Actual cryptocurrency prices and associated stats may vary. Data presented may reflect assets traded on Coinbase’s exchange and select other cryptocurrency exchanges.