A somewhat unknown crypto is currently crowning Bitvavo, the popular Dutch crypto exchange. It concerns numeraire (NMR), which was by far the most traded crypto on the Dutch exchange in the past 24 hours.
NMR’s trading volume increased about 30% in the last 24 hours to about $28 million. That is about 45% of the total trading volume that Bitvavo accounts for today. But what exactly is Numeraire and why is this digital currency suddenly so popular?
Wat is de Numberaire crypto?
Numeraire, also known as Numerai, is all about artificial intelligence (AI). The platform, which runs on Ethereum (ETH), creates a decentralized place for data scientists to experiment, create and measure forces.
The project is currently attracting attention with a competition for data scientists using machine learning try to predict the stock market as accurately as possible. The scientists can then earn rewards through the platform depending on how accurate their predictions are. In total, more than $35 million in rewards have already been distributed on Numerai.
It might also be interesting to mention that Numerai is the very first crypto project ever created by an investment fund.
The NMR price is rising sharply on Bitvavo
But why is NMR suddenly so popular on Bitvavo? That probably has to do with a huge price increase yesterday.
For a long time, the token dangled just above the $10 mark, but shot to a high near $25 yesterday. That is an increase of almost 150%. At the time of writing, the NMR price is at $21.5 and is therefore still more than 90% up this week. Numeraire actually launched way back in 2015 and is currently entering the top 200 largest coins with a market cap of $137 million.
AI projects are generally doing very well this year, including other AI cryptos. Take Fetch.AI (FET), for example, this token rose by more than 9 percent in the past 24 hours. FET can also be traded on Bitvavo.
If you don’t have an account with Bitvavo yet, you can now benefit from a nice welcome bonus. By registering through this link you will receive 10 euros for free on your account.
2023-09-03 12:01:16
#crypto #tops #Bitvavo #increase
