Numerai Founder Highlights $20 Million TVL Discrepancy in Numeraire

Numerai founder Richard Craib addressed inaccuracies in reporting the Total Value Locked (TVL) for Numeraire, highlighting CoinMarketCap’s $4 million display versus the actual $20 million.

This discrepancy underscores the need for precise data in evaluating project health, affecting investor perception and Numeraire’s market standing.

Market Reactions and Potential Regulatory Interest

Richard Craib publicly addressed a discrepancy in the reported Total Value Locked (TVL) for Numeraire (NMR). While CoinMarketCap lists the TVL as $4 million, Craib clarified it is actually $20 million. “Due to the unique nature of our staking mechanism, most websites display incorrect Total Value Locked (TVL) for NMR. For example, CoinMarketCap shows $4 million, but it’s actually around $20 million.”

The unique staking mechanism of NMR is cited as the cause.

Community and market reactions include acknowledgment of the potential impact this revelation might have on stakeholding strategies. Richard Craib’s statement on Twitter serves as a reminder of discrepancies in cryptocurrency data reporting.

Market Data and Insights

Did you know? Accurate reporting in DeFi is crucial for maintaining investor confidence and market stability.

According to CoinMarketCap, Numeraire (NMR) is valued at $20.87 with a market cap of $158.25 million and a fully diluted market cap of $229.54 million. The 24-hour trading volume surged by 232.90% to $550.18 million. The coin reported notable price increases over various durations: 24.61% in 24 hours, 38.92% in 7 days, and 138.50% in the last 30 days.

Recent involvement from JPMorgan, with its $500 million allocation to Numerai’s innovative hedge fund model, is significant. Data accuracy in such contexts is essential for evaluating market impacts and token strategies.