Numeraire
Current price
$11.90
−4.11%24h
LiveUpdated 38s ago
TodayNumeraire falls 4.1%, trailing the market.
Scroll to zoom · drag to move · ← → to read pricesPinch to zoom · press and hold to read prices
View as table
| Time | Price |
|---|
Change by period
- 1 hour0.00%
- 24 hours−4.11%
- 7 days−14.82%
- 30 days+35.24%
- 1 year−11.36%
Numeraire's move in context
Lagging the market today
−4.11% today against −3.26% for the market as a whole, a gap of 0.8 points. Small gaps like this are common, so they don't point to anything specific.
Trend has turned
−14.8% over 7 days and +35.2% over 30 days: the last week went against the monthly direction.
This is analysis of past prices, not a prediction or financial advice.
About Numeraire
Overview
Numeraire (NMR) is a cryptocurrency developed by Numerai, a hedge fund built on artificial intelligence and data science. The core mission of Numeraire is to incentivize data scientists to build machine learning models that help predict stock market movements. By using NMR as a stake, data scientists align their incentives with the performance of the hedge fund, thus creating a unique ecosystem where quantitative insights are rewarded. Distinguished by its focus on data science and financial prediction, Numeraire integrates powerful machine learning algorithms with blockchain technology to foster a decentralized, competitive environment for analysts.
Technical Features
The Numeraire platform operates on a robust technical framework that combines elements of blockchain technology and machine learning. It uses the Ethereum blockchain to execute smart contracts, harnessing its decentralized nature for security and transparency. Numeraire employs a unique consensus mechanism that relies on the accuracy of predictions made by its users. The network architecture allows data scientists to submit their models to the Numerai tournament, where they stake NMR tokens based on confidence in their predictions. If their model performs well, they earn rewards; if it does poorly, they risk losing their stake, thus incentivizing high-quality contributions. Furthermore, Numeraire leverages a decentralized governance model, allowing stakeholders to participate in decision-making processes regarding the platform's future development and rules.
Use Cases
Numeraire serves multiple use cases primarily within the realm of finance and data science. One of the primary applications is in the investment strategies of Numerai's hedge fund, where models built by data scientists directly influence trading decisions. Additionally, the NMR token allows for decentralized finance (DeFi) functionalities, enabling users to stake tokens as collateral and earn rewards. Numeraire also plays a role in the governance of the Numerai platform, enabling participants to propose and vote on future changes. The focus on machine learning can lead to innovative applications across sectors requiring predictive analytics, making Numeraire a versatile tool for various industries.
Development Background
Numeraire was launched in 2016 by Numerai, founded by Richard Craib. The development journey has been marked by significant milestones, including the launch of the Numerai tournament, which encourages data scientists to submit their predictive models. Initially, the fundraising efforts included a successful initial coin offering (ICO) in 2017, which provided the capital necessary for development. Over the years, there have been updates to the platform, increasing participation and the number of models submitted. Notable events include partnerships with various blockchain projects and data science communities, which have collectively propelled the use and recognition of NMR.
Community and Ecosystem
Numeraire boasts a vibrant community composed of data scientists, developers, and investors. The ecosystem is reinforced by partnerships with academic institutions and tech communities, further enriching the networking potential for stakeholders. Development support is provided through transparent communication channels and open-source contributions. Additionally, various applications and tools have been built around the Numerai platform, allowing users to analyze data, develop models, and interact with the hedge fund's investment strategies. The existence of a supportive and engaged community enhances the overall appeal and usability of NMR in the cryptocurrency market.
Future Potential
The future potential of Numeraire appears promising, driven by the growing intersection of artificial intelligence and finance. As more data scientists participate in the Numerai tournament, the robustness of models is likely to improve, potentially leading to better investment strategies and returns. Upcoming features noted on its roadmap include enhancements to the staking mechanism and improved accessibility for data scientists who wish to participate. With the rising trend of data-driven decision-making in finance, Numeraire is positioned to become an integral player in this evolving landscape, highlighting its innovative approach to cryptocurrency and investment management.
Numeraire market
- Position by market cap among the coins we track.
- #173
- Position by market cap among the coins we track.
- Price × coins in circulation. It measures a coin's size, not its quality.
- $90.7M
- Price × coins in circulation. It measures a coin's size, not its quality.
- The lowest and highest price in the last 24 hours. The dot marks the current price.
- Low $11.58High $12.43
- The lowest and highest price in the last 24 hours. The dot marks the current price.
- The highest price this coin has ever reached. The bar shows today's price as a share of it.
- $93.15
- Now 13% of itReached 16 May 2021 · Needs +683% to get back
- The highest price this coin has ever reached. The bar shows today's price as a share of it.
- Coins that exist now and can be traded.
- 7.62M NMR
- 69% of max
- Coins that exist now and can be traded.
- Every coin created so far, minus any destroyed, including coins that are locked up.
- 10.6M NMR
- Every coin created so far, minus any destroyed, including coins that are locked up.
- The most coins that can ever exist. Some coins have no limit.
- 11M NMR
- The most coins that can ever exist. Some coins have no limit.
Numeraire converter
1 Numeraire = $11.90
