What does NMR usually refer to?
NMR generally refers to Numeraire, an ERC-20 token based on Ethereum, associated with the prediction market mechanism of the Numerai hedge fund. Numerai was founded by Richard Craib in December 2015, and NMR was launched in February 2017. It did not undergo a traditional ICO; instead, approximately 1 million tokens were distributed to early active data scientists. Public records show that Numerai raised approximately $21.5 million in funding between 2016 and 2020, with investors including Union Square Ventures.
This project is not a stablecoin, nor is it pegged to fiat currency or a single asset. Its core purpose is to connect data scientists with hedge fund models: participants stake NMR to submit machine learning predictions, and the system issues rewards or imposes penalties based on prediction performance.
How do staking, rewards, and burning work?
In Numerai's mechanism, data scientists need to stake NMR and submit predictions for stock portfolios. Public information typically summarizes this as an incentive structure where "accurate predictions earn NMR rewards, while incorrect predictions may result in the burning of corresponding staked tokens." Due to burning and buybacks changing the circulating supply, the total supply and circulating supply displayed on different market platforms may vary.
The project team also repurchases NMR from the market to replenish its treasury, which is used to reward participants. Public information mentions that Numerai repurchased approximately $1.2 million worth of NMR in September 2026. This information indicates that its token is tied to platform operations but does not constitute a promise regarding the token's price.
How to understand supply and market capitalization figures?
Common figures in public information are: NMR maximum supply is approximately 11 million tokens; total supply is approximately 10.6 million tokens; circulating supply is approximately 7.16 million to 7.65 million tokens. The differences mainly arise from how various platforms handle staking, locking, burning, and the timing of statistics.
- Maximum Supply: Approximately 11 million NMR tokens.
- Total Supply: Approximately 10.6 million NMR tokens, with public information often citing this magnitude.
- Circulating Supply: Approximately 7.16 million to 7.65 million NMR tokens, with discrepancies across different data sources.
Market capitalization fluctuates with price and circulating supply. Based on public information of approximately 7.16 million to 7.65 million circulating tokens and prices at different times, market capitalization commonly falls within the range of tens of millions of dollars to over $100 million; the specific value should be based on real-time market platforms.
JPMorgan Chase related news and historical market performance
Public reports indicate that JPMorgan Chase Asset Management announced an investment of up to $500 million in the Numerai fund in August 2025. It is important to distinguish that this investment targets Numerai-related funds or products and does not equate to JPMorgan Chase issuing NMR; public information also does not show that NMR is directly issued by JPMorgan Chase.
After this news was released, market platforms recorded NMR at $16.66 on August 27, 2025, with a 24-hour increase of approximately 105.74%. This is historical market data and does not represent the current price, nor should it be used as a basis for judging future trends.
On which platforms can NMR be traded?
Public market platforms show that NMR can be traded on some centralized trading platforms, such as Binance, Coinbase Exchange, OKX, Bithumb, BTCC, etc. Specific trading pairs, regional availability, and deposit/withdrawal status may vary with platform policies, so local regulations and platform pages should be verified before placing an order.
As an Ethereum ERC-20 token, NMR can typically be stored and managed by wallets that support Ethereum assets, but this article does not elaborate on registration, deposit, or exchange steps.
Official website and information verification
Readers can find the official Numerai website and documentation by searching for "Numerai official website" or "Numeraire docs" and verify the domain name, contract address, and announcements. This article does not directly provide links to avoid incorrect or outdated links.
For abbreviations with the same name or different supply figures from various data platforms, it is recommended to cross-reference with official documentation and mainstream market platforms.
The information about platforms for sale in the text changes with the listing and delisting dynamics of each exchange; please refer to the official announcements of the exchanges.
