what's Numerai ? NMR/USDT analysisWhat is 🌟 NMR coin🌟?
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.actualy Numerai is a new kind of hedge fund built by a network of data scientists.
Numeraire is the product of the hedge fund company Numerai, started by CEO Richard Craib in late 2015. The cryptocurrency was launched about a year after the hedge fund, to overcome the challenges the project faced operating on the Bitcoin network.
its Advisors include Coinbase co-founder Fred Ehrsam, Polychain capital founder Olaf Carlson-Wee and Ash Fontana, a board member at Kaggie, among several others listed on the its website.
❇️What are the advantages of NUMERAIRE?
1.Numerai holds a competition every week where scientists get access to updated data, and use it to create their financial models. They then upload it on the platform. The models are then tested in real-world markets for three weeks, after which the scientists with the top 100 performing models are rewarded with Bitcoins for their efforts.
The scientists are expected to stake a number of Numeraire tokens (NMR) on their models to prevent tampering. The scientists with the successful models get back their NMR tokens as well as an additional Bitcoin payout.
The Numeraire tokens staked on losing models are burned (i.e., the scientists who lose the competition also lose their NMR tokens).
❇️What makes NUMERAIRE different from other cryptocurrencies?
👉1.Numeraire is the world’s first (and only) cryptocurrency started by a hedge fund. An incentive for scientists as well as a means of preventing tampering with the models, the Numeraire coin serves a dual purpose with the platform.
👉2.The innovation behind the Numerai platform in using all the new tech to its advantage, including Machine Learning, Artificial Intelligence, Data Science as well as the blockchain, is something to be admired. The platform manages to get the best possible predictions of market trends by rewarding anonymous scientists for the best models, benefiting the company as well as the scientists themselves.
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✅TECHNICAL ANALYSIS
As we can see in the weekly timeframe logarithmic chart , The current price roam about 40$,
The price of NMR has been advancing in this ascending channel for 2 years and it has built floors and ceilings according to the picture. You can see two important levels in the picture, the green load in the area and the green box marked, both of which act as support. However, if the first support is broken (which is unlikely due to the rising market conditions) to the bottom of the channel It moves and if it breaks, it will even fall to the next support, but in another scenario, which is more likely, it moves towards the roof of the channel , and according to the ascending cup pattern it has made,it will probably succeed in breaking the channel and can climb to the red box targets of $ 300 or even $ 600.
Anyway, my constant suggestion to my dear community is to buy step by step , With proper capital and risk management and keep the stop-loss because everything in the market is based on probabilities and there is no certainty.
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👉This analysis is my personal opinion and you are responsible for your own trades or invests.
❤️with Best Regards and successful trades
