NMR price prediction: Innovative Fintech, is NMR coin a good investment?

NMR price prediction: Innovative Fintech, is NMR coin a good investment?

NMR price prediction: Numerai is a platform based on Ethereum that allows developers to create machine learning models having improved reliability. It has the aim to combine data science with decentralization so that developers can create more effective machine learning models.

NMR Coin Latest Price Update

The current market price of NMR coin is $14.26 and is marginally down by less than 1% in 24 hours. Note that NMR crypto’s trading volume has increased by more than 44% in 24 hours, indicating a huge increase in trading activities in past one day.

Moreover, as we can see in the graph attached below, the NMR coin’s market price spiked suddenly a week ago. Hence, it can indeed show self-correction in the coming days, keeping in view NMR crypto’s increased trading volume.

NMR Coin Price Prediction

Price volume analysis

NMR Coin Price Prediction

The above graph represents a variation of price vs volume for a month (from November 10th to December 8th) for NMR.

As suggested by the graph above, the one notable spike in volume was on November 24th when it increased by 10.94 in a single day. Meanwhile, the price increased by 1.02 times.

After 25th November, NMR’s volume declined by 5.9 times till 3rd December, while its price was marginally up by 1.03 times.

What is NMR Coin Used For?

Numerai is a platform based on Ethereum that allows developers to create machine learning models having improved reliability. It has the aim to combine data science with decentralization so that developers can create more effective machine learning models.

NMR coin is the ERC-20 token which is secured by the Ethereum PoS consensus mechanism and there can be a maximum of 11,000,000 NMR tokens in circulation.

Below mentioned are the two main use cases of the NMR crypto:

  • Users can use NMR coins to pay for data and tournament pay-outs.
  • NMR coin can be used for staking.

Numeraire Price Prediction

The current market price of NMR coin is $13.91 and is down by more than 6.26% in just 24 hours. Below attached is its one-day graph:

NMR price prediction

Image: NMR’s 24-hour graph

For Numeraire price prediction, before predicting whether NMR crypto is expected to go up or down in the coming future, let us first overview Numeraire price history for the past few months. NMR coin’s performance in the past months can help us gain the required context for the future. Let’s discuss:

NMR price prediction

Image: NMR’s 1-year graph

Above is the NMR coin’s graph for 1 year and as we can see, the Numeraire crypto price, one year ago was $35.8. Hence, there is a decline of 2.57x in NMR coin price in one year. Also, numerous fluctuations were stating that the decline wasn’t consistent.

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Image: NMR’s 3-month graph

The above graph depicts that the NMR coin’s price is declining for 3 months (not consistently though) i.e., three months ago, NMR crypto was priced at $17.8 and has suffered a decline of 1.27 times. As we can see in the graph the NMR coin suffered a dip to $10.77 a month ago.

Nonetheless, Numeraire’s price is 6.08 times lower than its all-time high price of $84.69 (that it achieved in April 2021), leaving a huge scope for its growth in the coming future.

Reddit community discussions

The Reddit community has mixed thoughts about NMR crypto. In a discussion related to the Numeraire price prediction, a few users said that the NMR coin was doing good for them so far, while a few think otherwise.

One user wrote, “NMR did well for me in the last bull run, but like several other altcoins I held, it tanked hard”.

Numeraire Price prediction: Main differentiators of NMR

Numerai is actually a hedge fund platform that creates financial prediction models by using artificial intelligence, machine learning, data science and blockchain technology.

Here, the data scientists are incentivized to make predictions. For instance, a user gets rewards when he stakes NMR coins on the correct outcome of the chosen prediction model. But, if the user stakes NMR coins on a wrong outcome, then their staked NMR is destroyed by the Erasure protocol of Numerai.

The following are the main differentiating features of Numeraire crypto (NMR):

  • It combines innovative technologies to help users trade their equities and submit prediction models.
  • Data scientists are incentivized to submit their prediction models.
  • Data scientists and financial advisors can earn extra income if they submit market data-driven trading strategies.

Also Read: Is Enjin a good investment?

Numeraire Price prediction: Fintech and Global Economy

Fintech or Financial technology is the technology that enhances the use of financial services. These new innovations and technology are potentially eliminating the obstacles to financial services including distance and lack of funds.

Overall, Fintech is reshaping finance and thus the global economy. For instance, it modernizes the financial infrastructure to enable competition and fosters useful innovations along with managing risks.

Moreover, it weakens the centralization of local governments and hence, stimulates the development of a digital economy.

Note that Fintech products can reduce the cost, and speed up transactions and therefore, are heavily supported by investors’ funds and advanced technology. Therefore, it leaves considerable scope for the further growth of the technology in the coming years.

NMR is also such a company which is a part of this new fintech structure and hence, can serve a great purpose.

Numeraire Price prediction: Big data and predictive models are evolving with crypto and blockchain.

As of now, many businesses, such as e-commerce and video streaming services, make use of big data and predictive analytics. Here, Big data technology is associated with having limitless information and data sets, while predictive analysis is sort of a marketing tool.

According to the reports, the predictive analytics market is supposed to grow at a CAGR of 19.5% by the end of 2027.

Now, with the emergence of newer technologies, companies are coming forward with newer ways to make these technologies user-friendly and more interactive. One such latest thing is the use of Blockchain in predictive models and big data.

With the use of blockchain, the data becomes private and secure. It becomes almost impossible to manipulate the data with the inclusion of a decentralized algorithm to it.

In simple words, blockchain can make data more valuable for various businesses.

Conclusion: NMR price prediction

To conclude we can say that Numeraire crypto is a very innovative project that provides an excellent way to earn income based on the prediction models. Also, anyone is free to trade equities in real-life markets through this software.

Also, the Numeraire price is 6.08 times lower than its all-time high value, indicating that NMR coin can certainly recover and go up in the years to come.

We can see that blockchain’s inclusion in financial services is growing day by day. Moreover, a report says that Machine Learning algorithms can also be used to predict the price variations of crypto.

Therefore, it can be rightly said that AI, ML, and blockchain technology can together create many possible solutions for existing financial services and hence NMR coin can find great potential applications in the near future.

~Charu Taneja

Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions

Charu Taneja

Charu Taneja