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Numeraire

NMR

3.9

Price
$14.70
10/1/2022, 11:58:15 PM
diamondHands

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Market

Market stats

Market cap

$86.5M

Volume (24h)

$2.3M

Circulating supply

5.9M NMR

Typical hold time

9 days

Popularity

#108

All time high

$168.49

Price change (1h)

+0.62%

Price change (24h)

-0.91%

Price change (7d)

-3.05%

Trading activity

85% Buy0% Buy
15% Sell100% Sell

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Numeraire is on the decline this week.

The price of Numeraire has fallen by 3.05% in the past 7 days. The price declined by 0.91% in the last 24 hours. In just the past hour, the price grew by 0.62%. The current price is $14.695 per NMR. Numeraire is 91.28% below the all time high of $168.49.

The current circulating supply is 5,888,503.644 NMR.

About

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.

What Is Numeraire (NMR)?

Numerai is a network that works as a hedge fund and enables users to trade equities on the Ethereumblockchain. As per the website, 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 the whitepaper, 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:

  • Signals: This is an application where the stock market predictions and market strategies are uploaded. The application supports staking and incentivizes users with NMR tokens for uploading the projections.

  • Tournament: This platform allows users to submit trading algorithms in a weekly contest. This facilitates competition and allows anyone to bet on the most likely outcome. This platform also supports staking.

To operate everything, the native token 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 ERC20 token and also the platform’s cryptocurrency. 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.

History of Numeraire (NMR)

Based in San Francisco, California, Numerai is the company that launched the Numeraire token. Numerai was founded in 2015 by Richard Craib

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 official documents, 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. 

How Are Numeraire (NMR) Tokens Earned?

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 protocol decides whether the user has made right or wrong predictions and whether the user should be rewarded or have their stake burned.

How Many Numeraire (NMR) Tokens Are There?

Numeraire has a limited maximum supply and is capped at 11 million NMR tokens.

How to Purchase Numeraire (NMR) Tokens

The NMR token is available on several centralized and decentralized exchanges like Coinbase. Coinbase is an easy-to-use and beginner-friendly platform for trading, storing, and converting NMR.

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Social

Numeraire on social media.

Numeraire was mentioned in 24 out of 1,710,434 social media posts on Twitter and Reddit on Sep 30, 2022. 19 unique individuals are talking about Numeraire and it is ranked #1,364 in most mentions and activity from collected posts.

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Key indicators

Contributors

19 people

Posts

24 posts

Dominance

0%

Volume rank

#1,364

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FAQ

What is the current price of Numeraire?

The price of 1 Numeraire currently costs $14.70.

What is the market cap of Numeraire?

The current market cap of Numeraire is $86.50M. A high market cap implies that the asset is highly valued by the market.

What is the all time high of Numeraire?

The all-time high of Numeraire is $168.49. This all-time high is highest price paid for Numeraire since it was launched.

What is the 24 hour trading volume of Numeraire?

Over the last 24 hours, the trading volume of Numeraire is $2.31M.

What other assets are similar to Numeraire?

Assets that have a similar market cap to Numeraire include XYO, Conflux, Veritaseum, and many others. To see a full list, see our comparable market cap assets.

How many Numeraire are there?

The current circulating supply of Numeraire is 5.9 million.

What is the typical holding time of Numeraire?

The median time that Coinbase customers hold Numeraire before selling it or sending it to another account or address is 9 days.

What is the relative popularity of Numeraire?

Numeraire ranks 47 among tradable assets on Coinbase. Popularity is currently based on relative market cap.

What is the current trading activity of Numeraire?

Currently, 85% of Coinbase users are buying Numeraire. In other words, 85% of Coinbase customers have increased their net position in Numeraire over the past 24 hours through trading.

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