Numeraire Price (NMR)
Numeraire to USD Chart
Please wait, we are loading chart data
NMR Price Live Data
The live Numeraire price today is $40.64 USD with a 24-hour trading volume of $28,129,081 USD. We update our NMR to USD price in real-time. Numeraire is down 6.94% in the last 24 hours. The current CoinMarketCap ranking is #149, with a live market cap of $414,488,468 USD. It has a circulating supply of 10,197,784 NMR coins and a max. supply of 11,000,000 NMR coins.
If you would like to know where to buy Numeraire, the top exchanges for trading in Numeraire are currently Binance, Mandala Exchange, OKEx, Coinbase Exchange, and Upbit. You can find others listed on our crypto exchanges page.
What Is Numeraire (NMR)?
Numerai is an Ethereum-based platform allowing developers and data scientists to experiment and create machine learning models with improved reliability. The platform’s main goal is to bring decentralization to the data science field and allow developers to compete in creating effective machine learning prediction models.
Founded in late 2015 in San Francisco, Numerai claims to be the first hedge fund to launch a cryptocurrency on the market. Unlike traditional hedge funds, however, Numerai relies on the data and predictions produced by tournament participants to participate in the stock market. They claim to be the first hedge fund to use machine learning so heavily in its investment strategy.
Who Are the Founders of Numeraire?
Richard Craib is the founder and CEO of Numerai. He graduated from the University of Cape Town in 2008 and later acquired one more bachelor’s degree from Cornell University, and spent a year in UC Berkeley. His professional career started with founding Numerai and has taken him to a Forbes 30 under 30 designee position.
Richard Craib is often cited for his innovative approach to hedge fund management and the revolutionary idea to rely so heavily on artificial intelligence for stock price prediction. Not only that, Numerai has created one of the largest global data science tournaments.
What Makes Numeraire Unique?
Numerai and the Numeraire token are unique in terms of the idea behind their creation. This is reportedly the first cryptocurrency to be created and released by a hedge fund. One of the main benefits of the NMR token is that it is awarded to data scientists whose models perform well in the Numerai tournament. This means that the token becomes more valuable as more people enter the tournament and start competing.
Not only that, but the models ventured for the tournament allow Numerai to actively participate in stock market trading based on the results revealed by participating projects. This innovative approach to stock trading makes Numerai one of the few hedge funds to rely significantly on AI-generated data predictions.
Read more about Uniswap.
Find out more about Tellor.
Learn more about networks.
Have a look at the CoinMarketCap blog.
How Many Numeraire (NMR) Coins Are There in Circulation?
The maximum supply of NMR is 11,000,000 tokens. The supply cap for Numeraire was initially 21 million tokens; however, the platform announced that it is going to cut this maximum by more than half in 2019.
In a 2018 press release, Numerai announced that three million NMR tokens will remain locked until 2028, and will be released as a reward incentive for tournament participants. The Numeraire token did not undergo an initial coin offering (ICO). Instead, Numerai decided to distribute 1 million NMR tokens among 12,000 platform users with the highest activity statistics.
NMR tokens are burned on a weekly basis, as tournament participants who venture losing models and predictions lose their stake in the competition.
How Is the Numeraire Network Secured?
Unlike other popular consensus mechanisms like proof-of-work (PoW), PoS does not rely on high consumption of electrical or computing power to create new tokens. This makes the consensus much more scalable and easily incorporated in different use cases.
Where Can You Buy Numeraire (NMR)?
Numeraire is growing in popularity, as the hedge fund performs better, and more data scientists are participating in the weekly tournament. If you are looking to trade NMR, there are a number of exchanges now offering the token.
Read more about buying crypto here.
NMR to USD Converter
NMR Price Statistics
|24h Low / 24h High|
|Volume / Market Cap||0.06786|
|Total Value Locked (TVL)||$13,750,768|
|Fully Diluted Market Cap||$447,094,504.37|
|Yesterday's Low / High|
|Yesterday's Open / Close|
|7d Low / 7d High|
|30d Low / 30d High|
|90d Low / 90d High|
|52 Week Low / 52 Week High|
All Time HighJun 25, 2017 (4 years ago)
All Time LowNov 26, 2018 (3 years ago)
|Circulating Supply||10,197,784 NMR|
|Total Supply||10,971,315 NMR|
|Max Supply||11,000,000 NMR|