Numeraire (NMR) Coin Analysis, Price, Market-cap and Future Predictions

Bombolo | News and Media

Numerai is a platform based on Ethereum and the big idea behind it is to make the world of data science (using data to make predictions or decisions) more decentralized. Instead of a few big players, Numerai allows many developers to compete and create really good machine learning models.

It started in San Francisco in 2015, and what's interesting is that Numerai says it was the first hedge fund (a type of investment fund) to launch a cryptocurrency. But unlike regular hedge funds, Numerai doesn't rely on its own experts for predictions. It uses the data and predictions from people participating in its competitions to make decisions in the stock market. So, they claim to be the first hedge fund to heavily use machine learning in their investment strategy, making it a bit unique in the financial world. If your predictions do well, you get Numeraire tokens as a prize. The cool part is, as more and more people join the competition, the Numeraire token becomes more valuable because it's in high demand. So, it's like a unique reward system tied to the success of the predictions in the Numerai tournament.

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Price:

Today, 5th February 2024, Numeraire (NMR) is priced at ~27.43 USD. In the last 24 hours, its value went up by 11.32%. The total value of all the Numeraire in existence is $169,212,469. There are currently 6,168,455 Numeraire coins available, and there will be a maximum of 11,000,000 coins in total. The trading volume in the last 24 hours was $105,893,043, which means a lot of buying and selling of Numeraire happened during that time. Numeraire is ranked #255 among all cryptocurrencies.

The highest price that people have ever paid for Numeraire (NMR) was $93.15, and that happened on May 16, 2021, which was over 2 years ago. Right now, the current price is 70.44% lower than that all-time high.

On the other hand, the lowest price people paid for Numeraire (NMR) was $2.06, and that was back on Nov 27, 2018, which is about 5 years ago. Currently, the price is 1,234.08% higher than that all-time low. So, even though it's lower than the highest price, it has increased a lot since the lowest point.

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Market-cap:

The market capitalization of Numeraire (NMR) is the total value of all the Numeraire coins in existence, which is $170,264,625. Market cap is calculated by multiplying the current price of one Numeraire token by the number of tokens available for trading. In this case, there are 6.2 million Numeraire tokens available for trading on the market.

Future Predictions:

Our Experts are predicting that the price of Numeraire (NMR) will stay between $26.85 and $63.83. If it goes up to the highest expected price of $63.83, it could increase by 126.90%, which is a significant jump from the lower price. So, it's like a range of possible prices, and if it reaches the highest point, it would be a pretty big increase.

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