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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.
Numeraire is an economic term of french origin, which acts as a benchmark in comparing the value of similar products or financial instruments.
Understanding Numeraire. The practice of using currencies as a numeraire came into existence a long time ago. During the mid-20 th century, when trading in gold was a common practice among traders, the US dollar was priced at one thirty-fifth of the value of one ounce of gold.. Other currencies – such as the British pound, yen, and euro – were benchmarked on the US dollar.
Numeraire is an Ethereum token that powers Numerai, a San Francisco-based hedge fund that crowdsources artificial intelligence to make investments in major stock markets around the world. Numeraire (NMR) holders can stake their NMR tokens every week on specific predictions. Successful predictions are rewarded with more NMR.
Numeraire is one of the most unique cryptocurrencies to have emerged so far. It also has serious potential as an asset. To understand why, we must first understand its utility within the Numerai ecosystem. Numerai is a hedge fund which describes itself as “the hardest data science tournament on the planet” with rewards paid out in NMR. The ...
Join the hardest data science tournament on the planet. Build the world's open hedge fund by modeling the stock market. Use the power of machine learning and AI (Artificial Intelligence) to earn cryptocurrency on your NMR staked. Over $200,000 paid out every month. Get started quickly with our example models using XGBoost and linear regression.
Numeraire produces its own wallet software that is available for download on its website, which allows you to store Numeraire on your computer. For maximum security, you can store your cryptocurrencies on a dedicated hardware wallet such as a TREZOR wallet or a Ledger Nano X.
Numeraire price today is $65.35 with a 24-hour trading volume of $12,992,078. NMR price is down -3.1% in the last 24 hours. It has a circulating supply of 5.7 Million NMR coins and a max supply of 11 Million. Coinbase Pro is the current most active market trading it.
The Numeraire price is forecasted to reach $59.365 by the beginning of June 2021. The expected maximum price is $74.206, minimum price $50.460. The Numeraire price prediction for the end of the month is $59.805. ⭐ In 1 year from now, what will 1 Numeraire be worth? In May 2022, the Numeraire price is forecasted to be on average $64.227.
Creating a Numeraire price prediction from collated data is an overall useful step in determining whether a long term investment is expected to be profitable. Using prior price data, predictive modelling and Investor sentiment scraped from various sources online, a Numeraire (NMR) price prediction of around $250 – $400 USD is what our data ...
Numeraire is Numerai’s native cryptocurrency and it is bound to pick up its pace sooner or later. Of course, the fact that the currency is facing a low is an added benefit for investors, who stand to gain much more from the inevitable rise of the cryptocurrency.