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NMR is Numraire’s native token, earning three-digit numbers in two days.
Numraire enables stock trading via the Ethereum blockchain
Developers hinted at advances in 1 million stock tokens
The Numraire crypto token NMR / USD held a large rally this week. Cryptocurrencies returned 171.74% in just two days at the time of the press. The token hit a high of $ 39.5 on June 30th. The token was traded on June 29th at a low of $ 8. Price changes highlight the intense volatility faced by tokens.
Numraire is software that allows users to trade stocks on the Ethereum blockchain. Users can rely on artificial intelligence and expert predictions to execute transactions via the blockchain. The two applications on the Numeraire platform support different types of traders. The first is the “signal”, which is the means by which traders upload their stock market strategies. The second is the weekly “tournament”. Traders submit trading algorithms on the stock market, allowing others to bet on potential results.
NMR is a native token of Numraire. Tokens support and pay for staking on the platform. It also rewards tournament participants. Every time a participant bets a token on a false prediction, the NMR is also burned.
The rise of NMR came after developers confirmed the progress of one million stock NMR tokens. At the time of the press, trading volumes have surged by double digits in the last 24 hours. This shows the growing interest of investors in crypto tokens.
Source TradingView
Technically, NMR is trading around the $ 23 support zone, down sharply from the previous day’s highs. The 21st and 14th moving averages continue to support prices. If the trading volume is high but $ 23 is not held, the token can crash further down. For now, investors need to be aware of potential token dumps.
The rise in NMR is related to the latest announcement. However, we recognize that emotions are weak and investors can be caught in a bullish trap.
