NMR Token Surges 53% After JPMorgan’s $500M Investment and Major Buyback Sparks Supply Squeeze

Numeraire (NMRUSDT) experienced a sharp price increase in the last 24 hours, primarily driven by news of JPMorgan's $500 million investment in Numerai's AI-powered hedge fund, which significantly boosted market sentiment and trading activity. Additional factors contributing to the rally include a recent $1 million NMR buyback and a substantial withdrawal of 350,000 NMR from exchanges, suggesting a potential supply squeeze and heightened investor interest.

Currently, NMRUSDT is trading at $19.89 on Binance, reflecting a 53.83% rise from the 24-hour open of $12.93, with trading volume surging and market capitalization fluctuating around $161.88 million. The asset has shown notable volatility, with a wide trading range and increased market participation following the institutional endorsement and strategic token management actions.