Numerai is a new type of hedge fund that allows any data specialist to build machine learning models and provide forecasts for controlling capital in a hedge fund. In February 2020, the price of the Numeraire coin began to grow. Here we’ll observe the main features of the cryptocurrency and try to predict the NMR future.
Numeraire (NMR) Explained
The Numeraire Token (NMR) is used for prediction betting, also called Proof of Intelligence. It is the first of its kind and serves as the reward for specialists who made the correct predictions.
After analyzing the tool, each specialist can to send it to the Numeraire smart contract. If the expert’s forecast is correct, then he will receive his reward in the form of Numeraire tokens. If the forecast is incorrect, the forecaster risks losing his NMR tokens. The Numeraire algorithm includes the generation of 21 million tokens, the first of which is distributed among specialists.
The Numeraire cryptocurrency is a token of the data analysis platform, which is based on the ERC-20 protocol. The goal of the developers was to create a platform that, thanks to the forecasts of the experts involved, would create forecast models for various companies and funds.
The Numeraire project is a social network or hedge fund software. The Numeraire Token (NMR) will be the reward for specialists who made the correct predictions.
There was no ICO for the NMR coin. Developers didn’t want the hackers to speculate the coin. Instead of ICO, the team gave NMR coins away proportionally to the best data scientists on Numerai — the people who were most likely to use it. On the day of the launch, NMR was not only usable but used immediately by its recipients.
The all-time highest price was $99.79. It happened on Jun 25, 2017. The lowest price of the coin happened on the 26th of November 2018, and the price of one coin was $1.93.
In February 2020, the price of NMR began to grow. In March, the coin reached $17.2 for the first time in two years.
Numeraire (NMR) Technical Analysis
Well, there is not actually any technical analysis expertise of Numeraire cryptocurrency. However, here is the aggregate rating for NMR from several traders & analysts on TradingView.
Here we collected some aggregated price predictions for the next couple of years.
#1. Wallet Investor Numeraire (NMR) Price Prediction for 2020-2025
According to the source, NMR is a good long-term (1-year) investment. The Numeraire price can go up from $15.5 to $17.3 in one year. The long-term earning potential is +11.43% in one year. By the end of 2022, the price of NMR coin can reach $23.8. In 2023, the price won’t change a lot, $26.1. This tendency will remain till the end of 2025.
#2. Trading Beasts NMR Price Forecast for 2020-2023
According to Trading Beasts algorithm, the price of NMR coin can be around $9 by the end of the year. In 2021, the price can slightly go up to $11. In 2022, the price will reach $15. Only by the end of 2023, the price of one NMR coin will reach $18.
#3. Digital Coin Price Prediction for 2020-2025
According to the source, Numeraire (NMR) is profitable investment. In 2022, the price of the coin will go up to $46.23. The rate will gradually increase and reach $63.8 in 2025.
As we can see, Numeraire can be a great investment so you can definitely diversify your portfolio with this cheap token. You can also become a part of the ecosystem and try yourself in hedge funds.