HOME CATEGORIES WRITE AND EARN 🔍
CATEGORIES WRITE AND EARN MORE

CRYPTO NEWS

Your favorite crypto news blog

Coinbase Effect: The Altcoin Numeraire (NMR) Jumps 130% On Listing News

Altcoins 2020/08/12 23:59 by Nick Chong

It appears that the Coinbase Effect is in full swing.

An hour ago, the leading cryptocurrency exchange announced that it will be listing a new coin on its professional trading platform, Coinbase Pro. The cryptocurrency it listed is Numeraire (NMR), a popular altcoin project from 2017, and it has surged over 100% since the announcement:

“On Monday, August 17, transfer NMR into your Coinbase Pro account ahead of trading. Support for NMR will be available in all Coinbase’s supported jurisdictions, with the exception of New York State. Per previous launches, transfers will open during business hours, Pacific time.”

The cryptocurrency has not been listed yet, though it will be listed on Monday, August 17th. NMR will begin trading on Coinbase should it garner enough liquidity:

“Once sufficient supply of NMR is established on the platform, trading on our NMR-USD, NMR-BTC, NMR-EUR and NMR-GBP order books will launch in four phases, transfer-only, post-only, limit-only and full trading.”

Numeraire is the cryptocurrency that powers Numerai. It is a “San Francisco-based hedge fund that crowdsources artificial intelligence to make investments in major stock markets around the world.”

NMR is up 150% in the past 24 hours, according to Bittrex data shared via TradingView. This surge cements the fact that the “Coinbase Effect,” when tokens listed by the exchange rally due to an increase in market penetration, is in full swing.

Coinbase Numeraire

The Coinbase Effect: The Altcoin Numeraire (NMR) Jumps 130% On Listing

Featured Image from Shutterstock
Price tags: NMRUSD
Charts from TradingView.com

0 Like(s)



You should also read...

Crypto 05/08/20 03:00 by Tony Spilotro
How Crypto Company IPOs Could Incite Retail Investor FOMO
A perfect storm of ICOs, Bitcoin, and an emerging finance industry full of unknown tech born from mysterious figures helped crypto soar in 2017. Eventually, the bubble inflated too large and ultimatel...
Read More
Altcoins 07/08/20 01:59 by Nick Chong
Ethereum DeFi’s Balancer (BAL) Surges 25%: Why the Altcoin Is Up So Much
While Bitcoin and Ethereum have stagnated over recent days, multiple altcoins are pressing higher and higher. Zcash, for instance, has gained dozens of percent in the past week alone as its technical ...
Read More
Crypto 13/08/20 15:14 by Yashu Gola
Numeraire Jumps 190% on Coinbase Listing News; What’s Next?
Numeraire (NMR), the native token of Numerai – a blockchain-based hedge fund, rose exponentially over the last 24 hours. The NMRUSD exchange rate established a year-to-date high at $20.28 after rall...
Read More
Altcoins 29/12/20 06:44 by John Caroline
Coinbase To Suspend Trading Of XRP Next Month Following SEC’s Suit
Following the US Securities and Exchange Commission’s recent actions against Ripple, the leading US-based cryptocurrency exchange, Coinbase, has joined the increasing list of exchanges to suspe...
Read More
Altcoins 16/06/21 01:59 by Anifowoshe Ibrahim
Coinbase Pro To List Shiba Inu, The “Dogecoin Killer” Price Soars
The price of the shiba inu cryptocurrency rose on Tuesday after Coinbase revealed that the meme cryptocurrency would begin trading on Coinbase Pro this week. Coinbase To Trade Shiba Inu Coinbase annou...
Read More