What is Numeraire (NMR) crypto? All you need to know

April 26, 2022 02:36 AM AEST | By Rupam Roy
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  • Numeraire is an Ethereum-based platform that allows developers and data scientists to experiment and create machine learning models.
  • The NMR token is available for trading on various exchanges like Binance, OKX, etc.
  • It returned gains of over 20% in the last seven days.

Despite a slump in the global crypto market, various cryptos appear to be on investors' radar on Monday. The market was down 1.66% to US$1.81 trillion on April 25, while its volume soared 68.05% to US$88.55 billion in the last 24 hours.

Here we explore the Numeraire (NMR) crypto that has gained traction, evidenced by its price rally on Monday morning. The NMR token price jumped over 21%, while its volume skyrocketed by more than 753% in the last 24 hours to April 25.

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What is Numeraire (NMR) crypto?

Numeraire is an Ethereum-based platform that allows developers and data scientists to experiment and create machine learning models with improved reliability. The platform's primary aim is to introduce decentralization to the data science field while allowing developers to compete in creating effective machine learning prediction models.

Richard Craib founded the project in San Francisco in late 2015. Numeraire claims to be the first hedge fund to launch crypto on the market.

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However, unlike traditional hedge funds, the project relies on the data and predictions created by tournament participants. It claims to be the first hedge fund to use machine learning in investment strategy.

Numeraire tokens are unique in terms of the idea of their origin. For instance, the NMR token is awarded to the data scientists whose model performs better in the Numerai tournament.

The NMR token is an ERC-20 token secured by Ethereum's proof-of-stake (PoS) consensus mechanism. The token is available for trading on exchanges like Binance, OKX, KuCoin, etc.

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Numeraire (NMR) crypto price and performanceData Source: CoinMarketCap.com

Bottom line:

The NMR token was priced at US$30.73 at 10:59 am ET on April 25, up 21.25%, while its volume for the last 24 hours jumped 753.93% to US$77.18 million. It has a market cap of US$180.94 million, and its fully-diluted market cap is US$338.00 million.

The token has a maximum supply of 11 million, a total supply of 10.95 million, while its current circulating supply is more than 5.88 million. The token returned gains of 20.46% in the last seven days while increasing 1.12% over the last 30 days.

The token saw the highest price of US$33.66 and the lowest price of US$24.43 in the last 30 days. It reached its all-time high of US$168.49 on June 25, 2017.

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