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numeraire

Numeraire Price (NMR)

#250
$18.03
23.38%
฿0.00090712
24.94%
Market Cap

The market capitalization of a cryptocurrency is its current price multiplied by its circulating supply (the total number of mined coins).

Market Cap = Current Price x Circulating Supply.
$109.5M
Volume 24h

Volume 24h is referring to the total amount of a cryptocurrency traded in the previous 24 hours.

$100.9M
Circulating Supply

Available supply or circulating supply is the best approximation of coins or tokens in circulation and publicly available.

6,071,438
Total Supply

The total supply of a cryptocurrency is referring to the total amount of coins in circulation or locked minus the removed ones.

Total supply = Onchain Supply - Coins Removed from Circulation
10,930,434
Fully Diluted Valuation

The fully diluted market value is referring to a cryptocurrency's market cap when/if its total supply is issued.

$197.1M

Numeraire Price Chart (USD)

24H Change

23.38%
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Numeraire Price Update

Numeraire price is $18.03 , up 23.38% in the last 24 hours, and the live market cap is $109.5M . It has a circulating supply volume of 6,071,438 NMR coins and a max. Supply volume of 10,930,434 NMR alongside $109.5M 24h trading volume.
The addresses and transactions of Numeraire can be explored in https://etherscan.io/token/0x1776e1F26f98b1A5dF9cD347953a26dd3Cb46671 and https://ethplorer.io/address/0x1776e1f26f98b1a5df9cd347953a26dd3cb46671 .
Numeraire website is https://numer.ai/.

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NMR

NMR

About Numeraire

Numerai is software acting as a hedge fund that crowdsources artificial intelligence (AI) to invest in the world's major stock markets. It uses its own Meta Model powered by artificial intelligence, machine learning, cryptography, and data science to give stock market forecasts and enable users to trade equities on the Ethereum blockchain.


NMR, Numeraire’s native cryptocurrency coin powers the network. Numeraire (NMR) is an ERC-20 token used to stake on outcomes, conduct payments, and reward tournament participants. 


Read on for an in-depth overview of the Numeraire network and the NMR token.


Check the live Numeraire price, 24-hour trading volume, market cap, total supply, circulating supply, max. supply, NMR price chart, etc., and get updates on NMR price in real-time on CoinStats, one of the best crypto platforms around.


CoinStats is a cryptocurrency research and portfolio tracker app that provides investment advice and valuable cryptocurrency data, including each coin's current price, price chart, price statistics, 24h volume, etc., to help investors carry out fundamental analysis to make better investment decisions.


Let's get started!


What Is Numeraire


Numerai is a blockchain-based software acting as a hedge fund that gives stock market forecasts and makes investments based on artificial intelligence, machine learning, cryptography, and predictions made by a global network of data scientists. The platform is powered by blockchain network technology, aiming to decentralize the data science field and provide quality data. In so doing, the platform offers two applications for different types of traders:

  • Numerai Signals – An application to upload stock market strategies that support a specific stock or trading style. It supports staking and rewards users with NMR tokens for uploading the projections.
  • Numerai Tournament – A weekly competition allowing users to upload trading algorithms about the stock markets. Any network participant can bet on the most likely outcome.

NMR, Numeraire’s native cryptocurrency coin, acts as the main payment method and executes all the software operations on the Numeraire network. NMR is also used for staking on the outcomes of the predictions to show their confidence in models. The token is used as an incentive to reward participants in the Tournament app in a weekly selection.


Additionally, NMR is the token of the Erasure protocol, a set of smart contracts on the Ethereum blockchain that enables Numerai to either reward users who have staked their NMR  coins to a correct outcome or destroy MR if they were wrong, reducing the token's supply. By asking data scientists to risk their NMR tokens, the platform aims to ensure that only good models get staked.


The main principle of Erasure gave rise to the Meta Model, using proprietary AI technology.


Numeraire Founders

Numerai was founded by technologist Richard Craib in 2015. In 2017, Craib was included in the Forbes 30 under 30 list.

Craib graduated from Cornell University with a Bachelor's degree in Mathematics in 2012. Previously, he studied at the University of California, Berkeley, and the University of Cape Town.

His interests in finance and blockchain technologies, Machine Learning, etc., gave rise to Numerai, a new type of hedge fund aiming to provide more accuracy to the finance industry.

Numeraire (NMR) Launch and Token Economy

Numerai launched its native digital asset, NMR, on the Ethereum mainnet in 2017 without an Initial Coin Offering (ICO). Instead, the project gave away NMR to data scientists based on their contributions to the platform.


The supply limit of NMR is 11 million, with a 5.7 million circulating supply, as of august 2022. The Numeraire price is volatile and depends on various conditions, including global market trends, supply, and demand, etc.


The Numeraire price achieved its all-time high of $168 in June 2017, and the lowest NMR price was $1.93, recorded in November 2018.

Get started by checking the NMR price on CoinStats!

How Does Numeraire Work


The Numerai software uses the Erasure protocol and the AI aggregation model called the Meta Model. The system incorporates all the predictions from participants who upload their prediction models to the platform and encrypts each prediction using Ethereum’s cryptography. The software then evaluates them according to how unique the prediction is and how close it is to real life and selects the top 100 models. Note that if models are not chosen, no stake is lost.


The hedge fund then algorithmically trades equities in the stock market based on the 100 chosen prediction models, adopting new strategies when successful, and burning staked NMR when the model fails to meet the standard. It also allows any user to access all prediction models through Numerai’s Signals and Tournament apps.


NMR token is secured by the Proof-of-Stake consensus mechanism. Validators and block creators on the platform are selected based on the number of staked Numeraire tokens. The more people participate in the tournament and start competing, the more valuable the token becomes.


Erasure Protocol


The Erasure protocol was launched in 2018 as Numerai's decentralized data marketplace, which allows users to upload predictions and express their confidence by staking Numeraire (NMR) tokens. Starting as a crowdsource intelligence for Numerai, Erasure now allows everyone to build upon its decentralized blockchain protocol.


Originally, NMR had a supply of 21 million, but with the release of Erasure, the supply was halved to 11 million, and the company stopped minting new tokens.


Erasure offers an alternative to traditional ways of buying information using blockchain technology. Traditionally, users can only check the quality of information after they've already paid for it. This leads to only buying information from reputable sources, leaving little chances for other people with valuable insights.


In Erasure, information sources stake their offerings. If buyers don't like the information they receive, individuals providing it will lose their cryptocurrencies because the protocol burns the staked tokens. In the opposite case, the sources get rewards.

How to Buy Numeraire Coin


Numeraire (NMR) is available on various crypto exchanges, including Binance, Coinbase, P2PB2B, Gate.io, KuCoin, Gemini, Bittrex, Bithumb, Uniswap, OKEX, etc.


You must open an account on a crypto exchange and complete the KYC verification, if required by the exchange, to buy the token. For buying NMR with fiat, you must add a payment method, such as a credit or debit card, bank transfer, PayPal, etc. If you want to purchase NMR with digital currencies, you must link your crypto wallet to the exchange platform. Next, you must enter the number of Numeraire tokens you want to buy, double-check the details, and confirm your purchase.


FAQs

What Is Cryptocurrency


Cryptocurrency is a digital or virtual coin built on a technology called blockchain and secured by cryptography. Cryptocurrencies are decentralized and used as a medium of exchange for buying goods or services. However, the buyer and seller should agree to accept the particular cryptocurrency for the deal.


What Is Blockchain


Blockchain stores data in blocks that are linked together via cryptography. As new data comes in, it is entered into a fresh block. Once the block is filled with data, it is chained to the previous block, which makes the data chained together in chronological order. Blockchain's most common use so far has been as a ledger for transactions.


Why Should You Invest in Cryptocurrency


Investing in cryptocurrency represents a way to earn high returns while supporting the future of technology. Cryptocurrency investing is also explained by the desire for a reliable, long-term store of value.


However, cryptocurrencies remain highly speculative, so conduct your own research before investing in the crypto market.


No part of the content we provide constitutes financial advice on coin prices, legal advice, or any other form of advice meant for you to rely on for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyze and verify our content before relying on it. Trading is a highly risky activity that can lead to major losses; please, therefore, consult your financial advisor before making decisions. No content on our site is meant to be a solicitation or offer.

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