Numeraire price drops 25% as traders take profits
- Numeraire token NMR is down 25% as profit taking increases.
- The Numerai native token recently exploded amid a $500 million investment by JPMorgan.
- NMR price could drop to $15 and face resistance around $18.
As top coins struggle with sell-off pressure, the price of Numeraire (NMR) has pared recent gains as it dropped 25% in the past 24 hours.
Like the rest of the cryptocurrency market that has witnessed meteoric gains in the past few days, NMR has dumped as traders lock in gains.
Numeraire price hovered around $16.36 at the time of writing, down as Bitcoin struggled and Ethereum dipped under $4,400.
The release of PCE inflation data on Friday, which showed prices rose in July compared to June and at highs seen in early 2025, pushed stocks down. Cryptocurrencies were slipping amid this overall outlook.
Numeraire price falls 25% amid profit-taking
Numeraire, the ERC-20 token powering Numerai’s AI-driven hedge fund...
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