Numeraire price jumps 40% as JPMorgan commits $500m to Numerai

CoinJournal
CoinJournal
NMR-2.05%
CRO+8.55%
  • Numeraire price is up 40% to near $12.40 after JPMorgan secured $500 million capacity in Numerai.
  • The NMR token jumped to highs last seen in February.
  • JPMorgan’s move sees Numerai more than double its size.

Numeraire (NMR), the native token of the San Francisco-based crypto hedge fund Numerai, has surged more than 40% in the past 24 hours after JPMorgan announced investment in the hedge fund.

On Aug. 26, the Numerai team announced that JPMorgan has secured $500 million in capacity in Numerai, triggering the sharp price surge. Gains outpaced Cronos (CRO), which spiked after Trump Media announced a partnership with Crypto.com.

As NMR price broke to near $12.40, Numeraire’s daily volume jumped more than 800% to over $115 million. The token’s price reached its highest price since February.

NMR price chart by CoinMarketCap

JPMorgan secures $500 million capacity in Numerai...

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