Numeraire (NMR)
AI hedge fund data science tournament. Staking for ML model performance.
Ranked 150th of 251 rated tokens. Scoring pass 18 Sept 2026.
What the numbers say
NMR scores 98 of 250 across the 25-variable framework, which places it 150th of 251 rated tokens and inside the lower half of the set. The framework verdict is PASS.
The score rests on Vesting Schedule 7/10, 35th of 251, Insider Selling 5/10, 42nd of 251, Circulating / FDV Ratio 7/10, 46th of 251 and Competitive Moat 5/10, 57th of 251.
Against the same universe, NMR sits in the bottom third on Holder Concentration 3/10, 197th of 251. These are the variables that would have to move for the verdict to change.
Only 65.2% of NMR's maximum supply is in circulation, so 1.53x the current float is still scheduled to arrive. Holding price per token flat while the rest enters circulation implies 34.8% of the fully diluted value sitting ahead of today's holders. That is a real but manageable overhang.
NMR trades 84.2% below its all-time high of $93.15. Recovering that level is a 6.3x move, not a 84.2% one, which is the arithmetic most drawdown charts hide.
The framework score gained 98 points against the previous pass (0 to 98). Revisions of this size follow a change in the underlying variables, not a change in price.
Every variable NMR scores 7 or better on is one the market does not currently charge for: Vesting Schedule. On the evidence, none of what this token is good at is reflected in what it costs, which is the entire case for owning it and the entire reason it may stay cheap. It is weak on Active Users, Market Share, Institutional Adoption, Catalyst Calendar and Social Mindshare, which the market does price, so that damage is already done and visible in the valuation.
25-variable breakdown
Each variable is scored 1 to 10 and ranked against every other rated token, so a 7 that ranks 20th means something different from a 7 that ranks 180th. The rank is the part that is hard to get anywhere else.
Cash flow
| Protocol Revenue | 3 | 98th of 251 | |
| Revenue Trend | 3 | 117th of 251 | |
| P/S Multiple | 4 | 104th of 251 | |
| Real Staking Yield | 3 | 143rd of 251 |
Supply
| Supply Inflation | 5 | 61st of 251 | |
| Vesting Schedule | 7 | 35th of 251 | |
| Circulating / FDV Ratio | 7 | 46th of 251 | |
| Buyback and Burn | 2 | 114th of 251 |
Ownership
| Smart Money Flows | 4 | 93rd of 251 | |
| Insider Selling | 5 | 42nd of 251 | |
| Holder Concentration | 3 | 197th of 251 |
Traction
| TVL Trend | 3 | 111th of 251 | |
| Active Users | 3 | 149th of 251 | |
| Developer Activity | 4 | 158th of 251 | |
| Network Growth | 3 | 156th of 251 |
Position
| Market Share | 3 | 131st of 251 | |
| Competitive Moat | 5 | 57th of 251 | |
| Institutional Adoption | 3 | 115th of 251 | |
| Exchange Depth | 4 | 157th of 251 | |
| Social Mindshare | 3 | 157th of 251 |
Risk
| Regulatory Safety | 5 | 102nd of 251 | |
| Catalyst Calendar | 3 | 158th of 251 | |
| BTC Alpha Potential | 3 | 114th of 251 | |
| Team Execution | 5 | 74th of 251 | |
| Treasury Runway | 5 | 74th of 251 |
The vertical tick on each bar marks the median score across all 251 rated tokens, so a bar ending left of the tick is below the universe on that variable.
Catalyst and risk
Next catalyst
AI-driven hedge fund tournaments and Numerai's staking mechanism attracting data scientists.
Principal risk
Low retail adoption; tokenomics reliant on tournament participation, not broad utility.
Market and supply
| Price | $14.70 |
| Market cap | $105.4Mrank 279 |
| All-time high | $93.1516 May 2021 |
| Circulating supply | 7,172,768 |
| Eventual supply (max supply) | 11,000,000 |
| Dilution to full supply | 1.53x |
| Listed on | Binance, Coinbase, Kraken |
Price, market cap, supply and all-time high from CoinGecko, fetched 7 Oct 2026. The 25 scores come from the research pass dated 18 Sept 2026 and don't move with price.
Tokens with a similar profile
These are the closest matches to NMR measured on the shape of all 25 variables after removing overall quality, so what they share is a pattern of strengths and weaknesses rather than a similar size or price.
NMR compared head to head
Both sides of each comparison were scored by the same framework in the same pass, so the gap between them is a measurement rather than two readings taken with different rulers.
Common questions
- What is the Early Thunder score for Numeraire (NMR)?
- NMR scores 98 out of 250 on the 25-variable framework, ranking 150th of 251 rated tokens (lower half). The framework verdict is PASS.
- What are NMR's strongest fundamentals?
- NMR ranks highest on Vesting Schedule 7/10, 35th of 251, Insider Selling 5/10, 42nd of 251, Circulating / FDV Ratio 7/10, 46th of 251 and Competitive Moat 5/10, 57th of 251. Ranks are measured against all 251 tokens in the same scoring pass.
- What are the weakest parts of the NMR thesis?
- NMR scores in the bottom third of the universe on Holder Concentration 3/10, 197th of 251. The single risk carried on the scorecard is: Low retail adoption; tokenomics reliant on tournament participation, not broad utility.
- How much NMR supply is still to enter circulation?
- 65.2% of eventual NMR supply is circulating today, leaving 1.53x the current float still to arrive. At a flat price per token that is 34.8% of fully diluted value ahead of current holders.
- How far is NMR from its all-time high?
- NMR trades 84.2% below its all-time high of $93.15. Returning to that high requires a 6.3x move from the level used in this scoring pass.
- Which tokens have a similar profile to NMR?
- Measured on the shape of all 25 scored variables rather than on price, the closest matches to NMR are BADGER (100), PROP (93), MLN (104) and SNT (92). Similarity here means the same pattern of strengths and weaknesses, not a similar market cap.
- What is the next catalyst for NMR?
- AI-driven hedge fund tournaments and Numerai's staking mechanism attracting data scientists.
Keep reading
Research and analysis, not investment advice. Scores are one framework applied consistently across 251 tokens, not a prediction of price.