Numeraire Price Predictions: How High Can the NMR Crypto Go?

While the crypto market remains in disarray, there’s much debate among investors on how to proceed. Where is the best place to put one’s money? Is it in yield farming, where investors can stake their currency and forget about it for a few months? Is it in aggressive arbitrage and buying the dip, acting as if the volatility is no threat? Or could it be in cycling out of crypto entirely, taking the funds elsewhere — at least until the market settles?

Numerai is presenting investors with a different option. It seeks to bridge crypto staking and traditional stock market investing using machine learning and predictive investing. See, Numerai isn’t a typical crypto network, but rather a tournament of sorts. Thousands of data scientists and stock market predictors have descended on Numerai, each with their own unique algorithms for predicting stock market trends. These users compete to develop the most accurate predictor of stock market behaviors. Meanwhile, the network puts these models to use, using the aggregate data to automatically invest in its own hedge fund.

To participate in these tournaments, users stake the Numeraire token, or NMR. One can make predictions around the stock market using data supplied by the network, essentially betting on the success of their prediction through their staking. After the tournament is over, the network evaluates the success of the picks and rewards users accordingly.

Numeraire Price Predictions: What’s Next for NMR?

The goal of Numerai is to create “the world’s last hedge fund.” Users can use the network’s AI model and invest in the market according to its aggregate predictions, seeing for themselves if it’s fit for the name. While it remains to be seen if the developers can create the perfect stock prediction model, though, investors paying close attention to the NMR crypto. Indeed, the token is taking off on a massive run, and Numeraire price predictions are getting hot in its wake.

While there’s no explicit catalyst for today’s gains, the token’s 70% rise in the last 24 hours comes as the network nears a big milestone. Across both the main Numerai tournament, as well as the spinoff Signals tournament, the network is nearing one million NMR staked. Users are flocking to the project to stake some crypto, especially as it continues to provide great returns. Indeed, the average three-month return on NMR staking stands at about 15% right now, making it one of the best places for investors to farm income.

Will today’s sudden gains last, and help Numeraire to climb up the market ladder? Let’s take a look at some Numeraire price predictions and see what analysts are thinking:

• PricePrediction.net  expects NMR’s gains to halt very soon; the site predicts an end-0f-year price of $15.80 for the coin. That’s just a few cents higher than its current $15.36 value.
• DigitalCoinPrice  has higher expectations. It expects Numeraire to close out 2022 at a price of $20.10.
• WalletInvestor predicts a total collapse for the token’s price, expecting prices to tank to just $1.02 by June of 2023.
• Gov Capital, on the other hand, is immensely bullish, predicting a $46.94 price for Numeraire in 12 months’ time.

On the date of publication, Brenden Rearick  did not hold (either directly or indirectly) any positions in the securities mentioned in this article.  The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com  Publishing Guidelines.

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