How about the ability to trade equities on the Ethereum chain? It is something many users will fancy, right? Well, there is a protocol built to make that a possibility, and that protocol is called Numeraire (NMR). The NMR network price prediction is the key focus here, however, we can’t talk about the NMR coin without understanding the protocol itself.
Numeraire provides the capacity for users to deal in equities through its software that acts as a hedge fund. The concept behind the whole thing is to create a platform where users can trade using AI and predictions provided by data scientists from all over the world on the blockchain network. Users will be able to stake their assets on specific predictions on the Numeraire protocol.
You jump on the various Numeraire price predictions that are in the middle of the article, but it would be good to read the whole piece and to learn about the basic project’s facts.
|Circulating Supply||9,932,662.34 NMR
|Total Supply||10,971,861 NMR|
|Wallets||Ledger, Trust Wallet, MetaMask, Coinbase|
|All Time High||$99.79|
|All Time Low||$1.93|
|Available on||Binance, Coinbase, Huobi Global, Bithumb, Poloniex, Bittrex, Uniswap, OKEx, Gate.io, ProBit Global...|
NUMERAIRE: Looking at the Basics
Now, Numeraire is a crypto project backed by a company called Numerai, which is a hedge fund company. It aims to spur scientists through incentives to work with financial models to make predictions through encrypted data sent to these scientists. So, the protocol combines the best of AI, machine learning, cryptography, and data science to reach its target of crowdsourcing a brilliant financial model without compromising data privacy.
On the Numeraire protocol, scientists can download the encrypted data to work with and make the needed financial models that predict movements in the market. The algorithms that make these models combine AI and machine learning algorithms.
Scientists that come up with top financial models are rewarded with BTC with extra incentives given in the native token of the protocol called NMR token. Scientists also stake the NMR token on their models to prevent tampering with them.
There are two different apps on Numeraire reserved for different kinds of traders: tournaments and signals.
The signal app is where stock market strategies are uploaded to provide support for a certain stock type or trading style.
On the other hand, a tournament is where weekly competitions are held and users tender trading algorithms concerning the stock markets for anybody to place a bet on the best possible outcome.
For things to work, you must stake the NMR token on outcomes. Also, NMR is used for payments on the platform and for rewarding partakers in the tournament.
The Numeraire ecosystem uses the Erasure protocol, which is an Ethereum based set of smart contracts that allow users to get rewarded for staking their token on a correct outcome or burn it if they get the wrong outcome.
The Brain Behind Numeraire
Richard Craib created the Numeraire protocol in 2015 through the Numerai hedge fund company. The protocol secured funding through four different funding rounds that lasted from April 2016 to June 2020. A total of $21.5M was raised with contributions coming from well-known investors like Placeholder, Union Square Ventures, Howard Morgan, and Paradigm. By 2017, the Numeraire protocol launched its NMR token on the Ethereum mainnet. It didn’t issue any ICO; instead 1 million NMR coins were minted and distributed to 12,000 data scientists using their past contributions in the Numerai tournament as criteria.
The Uniqueness of Numeraire
The uniqueness of Numeraire comes from the concept behind it. It is arguably the first blockchain project to be developed by a hedge fund company. It targets data scientists and rewards them for their best-performing models in tournaments. This could be a value booster for the token as more users compete in the tournament.
That is not all. These financial models enable Numerai to take part in stock market trading using the results derived from models that took part in the tournament. This places Numerai among a handful of hedge funds that are based substantially on data predictions generated by AI.
What Gives the NMR Coin Value?
Firstly, the coin is what powers every application and process on Numerai, from staking to rewards. Although the token is burned and minted continuously, its total supply is limited to 11 million NMR tokens.
Understanding How Numeraire Works
Numerai uses what we call the Meta-model, which is an AI aggregation model. This model combines every prediction it collects from users and integrates them into its app network. Numerai now uses an algorithm to trade equities in the stock market using the model. The models on the Numeraire are also available for usage by any user that accesses its array of products on its protocol. The two apps on Numeraire are Numerai Signal and Tournament.
On this app, partakers vie for a chance to get the NMR token by submitting stock market predictions. Practically, users upload a signal that reflects a trading strategy for any of the stocks listed in the stock-verse of Numerai. There are 5000 available stocks in Numerai stock-verse. Even though the underlying data such as RSI, P/E ratios, and others, for each signal may differ. However, the submission format for the signals is the same: numerical target values and stock tickers.
After the signals are uploaded, users are rewarded after being scored similarly to the tournament.
As we mentioned earlier, it is a weekly event that centers around collections of market predictions from data scientists who are rewarded in NMR coins for producing the best financial models. To participate in the tournament, they use a staking mechanism to upload their market predictions relating to a particular dataset. The uploaded predictions are then scored after analysis. Accurate predictions get rewarded while wrong predictions will see the users’ staked NMR burned. It should be noted that the payout of the reward and scoring takes place every four weeks, even though the contest is a weekly one.
Storing NMR Tokens
NMR is an ERC-20 standard token, and that means it can be easily stored on Ethereum supported wallets. You can use Trust Wallet or Jaxx, which are mobile wallets that work well for storing NMR. Furthermore, cold wallets or hardware wallets such as Trezor and Ledger are some of the best wallets you can use to keep your asset.
There are also desktop wallets like Mist and Exodus that will work quite well for Ethereum-based tokens like NMR coin. These desktop wallets are compatible with the three popular computer OS- MAC, Windows, and Linux. If you want to opt for a web wallet then you can use MyEtherWallet, which is a very popular web wallet for Ethereum-based tokens like NMR coin.
Numeraire (NMR) Price Historical Data: Technical Analysis
The NMR coin debuted on June 23, 2017, with a price of $35.05, and the coin shoot up rapidly to reach as high as $168.49 on the third day. However, price correction started to set in and the coin price started to come down to as low as $16.54 by July 16, 2017. The coin would continue to hover around the $20 to $30 range for much of July and August 2017 before dipping to as low as $8.44 by November 12, 2017. It would close the year 2017 with a bit of recovery in terms of price, closing the year with a price of $32.97.
The recovery continued into January 2018 reaching as high as $59.53 followed by a bit of up and down in the market. From there the price went downhill and maintained a flat line for much of the rest of 2018. The pattern didn’t change for 2019 either and it remains so till March 2020. Within this period, the Numeraire (NMR) price reached as low as $2. By March ending in 2020, there was a reversal in the decline of the NMR coin and it began to gain traction once more. By August 31, 2020, the coin had reached $54.97.
That was its highest point for 2020 as the token nosedived again only to rise one more time by December 2020 where it recovered to reach $35.54. In 2021, the token started to make a steady climb up the ladder to reach as high as $93.10 on April 17, 2021. The token has now been hit too by the bear market and it is currently trading at the price of $37.36 as of July 30, 2021.
NMR Protocol Price Prediction: Market Sentiment
The NMR protocol is currently ranked as number 154 on CoinMarketCap and it has a verified circulating supply of 5,528,916 NMR coins. Its market cap stands at $208,275,449 with a daily trading volume of $19,334,930.
Let’s then find out what experts are saying about the NMR protocol price prediction:
Analysts believe that the NMR token will nearly double in value to reach $73.23 in a year. The token is not expected to suffer any major downside. – Digital Coin Price
In just a year, experts here are expecting the NMR network price to reach $60.21 to give you an earning potential of +61.30%. They believe the token is a good investment option for investors looking to invest in the token. – Wallet Investor
An analysis is showing that the NMR coin could yield an expected profit of +121.4% as the price increases to $82.14. – Cointobuy
The Numeraire (NMR) price prediction here is $66.08 in a year to give an expected earning potential of +75.092%. – GOV Capital
Numeraire (NMR) Price Predictions: 2021-2025
|Year||Predicted Forecast||High Forecast|
When the token launched, it started on a strong footing, however, things simmered down for quite a while before the token recovered again. Now according to Wallet Investor, the NMR token looks bullish even though we are in a bearish market presently. That is a good sign for NMR to continue its path towards the top, which is something investors will certainly look forward to.
So, various predictions point at an increase in the price of the NMR coin with Digital Coin Price predicting it will reach $54.38 in 2021. By 2025, the NMR token could reach as high as $185.77 according to Wallet Investor.
Numeraire (NMR) Price Prediction 2021
The Numeraire (NMR) started slowly in 2021 before picking up the pace to reach around $78 by April. The bear market has affected it a bit to see it come down to its current price of $37.36 as of July 30, 2021. However, the various predictions we see still position it to finish the year strongly. Digital Coin Price is predicting the NMR coin to reach $55.91 by the end of the year. Wallet Investor’s prediction for NMR is $58.99 while GOV Capital has an NMR network price prediction of $47.07 for December 2021.
Numeraire (NMR) Price Prediction 2022
Things continue to look good for the NMR coin in 2022 with the coin expected to continue its upward trajectory. Wallet Investor is predicting the token to end the year with a price of $85.85 while Digital Coin Price is predicting it will end the year with a price of $63.7. GOV Capital believes the token will reach $84.39 by the end of 2022.
Numeraire (NMR) Price Prediction 2023
In 2023, the Numeraire (NMR) price will continue to rise according to the various predictions that we have. Digital Coin Price believes that the token will end the year 2023 with a price of $74.09 while Wallet Investor suggests that the token will reach as high as $116.53. GOV Capital is predicting the token to hit $132.22 by the end of the year.
Numeraire (NMR) Price Prediction 2024
By 2024 the NMR token is predicted to reach the $150 mark as Wallet Investor believes it could close the year with a price as high as $151.13. GOV Capital’s prediction aligns well with this standing as their prediction for NMR token takes the price close to $200 with a price of $190.55. Digital Coin Price believes that the NMR coin will reach $105.4 by the end of the year 2024.
Numeraire (NMR) Price Prediction 2025
You can expect a continuous climb upward for the NMR token in 2025. Various predictions suggest that the NMR coin will maintain its increase in value into 2025 and finish the year strongly. GOV Capital predicts the coin to reach as high as 250.97 in 2025 while Digital Coin Price is predicting the token to reach $121.81 at the end of 2025. Wallet Investor’s prediction for the NMR coin puts its price at $185.77.
Frequently Asked Questions
Is Numeraire (NMR) a Good Investment?
Based on several predictions that we have looked at, it is safe to say that the NMR token is a good investment.
What Are NMR Tokens?
They are the native currency of the Numeraire, which serves several purposes like staking, payment, reward, etc. It is an ERC-20 token built on the Ethereum network.
Is NMR on Coinbase?
Yes, users can store, send, sell, buy, receive, and convert NMR on Coinbase.
Can I Stake NMR on Coinbase?
NMR token holders are able to stake their assets weekly on certain market predictions. The correct outcome will earn users an NMR reward.
How Do You Earn NMR?
To earn NMR, you have to stake the NMR tokens that you already have. This makes staking more valuable on the protocol.
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