Well, let's figure out why the price of Numeraire (NMR) increased by 59.59% in the last 24 hours. First, let's look at the available data to understand the possible reasons for such a sharp rise.
Current price data shows a significant jump — a 59.59% increase in a day and an impressive 615% rise in trading volume. This is a very strong surge, which means that important news or events are behind it. Reports mention that JPMorgan invested $500 million in the hedge fund Numerai. This is significant institutional support, which likely increased investor confidence.
Another important point is the decrease in NMR reserves on exchanges. According to Santiment, reserves have fallen to 1.61 million tokens, which means fewer coins are available for sale. This reduces price pressure and may increase demand. Such a trend is usually considered positive, as a reduction in reserves often indicates asset accumulation.
Technical analysis shows that the price has surpassed key Fibonacci levels, such as the 23.6% retracement level at $20.39. The Relative Strength Index (RSI) is around 53-54, indicating that the asset is not overbought yet and that there is potential for further price growth. The MACD histogram is currently negative, but sometimes the price can rise even with such a signal if other factors are strong.
Additionally, reports mention a planned token buyback of $1 million by Numerai in July 2025. This will reduce the number of coins in circulation. Combined with JPMorgan's investments, this creates a supply shortage and confirms the interest of institutional investors. The Fear and Greed Index is currently neutral, indicating that the market is not overheated and that the growth may be sustainable.
It is important to note that the news from JPMorgan is dated August 30, 2025, coinciding with the sharp increase in price over the last 24 hours. The reserve data is also current as of the end of August. Technical indicators confirm the breakout of important levels.
In summary: the main reasons for the growth are institutional investments, a reduction in supply on exchanges, a technical breakout of key levels, and plans for token buybacks. It is recommended to monitor the Fibonacci expansion levels, which may become targets for further price movement.
TLDR
The rise of Numeraire (NMR) by 59.59% in a day is driven by significant investments from JPMorgan, a decrease in token reserves on exchanges, a technical breakout, and planned token buybacks. These factors together create favorable conditions for further growth.
