Numeraire Token Surges as AI Hedge Fund Gains Traction
Numeraire (NMR),the token tied to the AI-driven hedge fund Numerai,has seen a massive 30% price hike in the last 24 hours.This surge comes as other top cryptocurrencies face volatility due to ongoing tariff uncertainties. NMR reached a peak of $12.04 on major exchanges.
The token’s daily trading volume also spiked by an astounding 2,900%. This surge in interest defied the broader crypto market trends. While global crypto volume rose by 7.5%, and the market cap fell by 2.7%, NMR’s volume jumped from $5.46 million to $156 million.
Numeraire’s AI approach combines artificial intelligence and blockchain to empower data scientists. The token’s utility lies in prediction and staking, which incentivizes data scientists. Recently, Numerai reported over $5.5 million in staking by these professionals.
Despite the token’s notable gains, it’s worth noting that most top AI tokens were down between 4% and 13% in the past 24 hours. However, NMR’s performance marks its best in two weeks, showcasing the growing interest in the project.
While the broader market faced challenges, Numeraire’s rise highlights the potential of AI-driven solutions in the crypto space. As the token continues to gain traction, it could pave the way for more innovative projects in the future.
