JPMorgan Commits $500M to AI Hedge Fund, NMR Soars 107%
Numeraire (NMR), the cryptocurrency tied to the AI-driven hedge fund Numerai, stunned investors this week after more than doubling in price within a single day. The token climbed by 107% to trade at $16.71, pushing its market capitalisation to about $124 million.
The surge came alongside an explosion in activity, with trading volume skyrocketing to over $798 million in 24 hours—an increase of more than 11,600% compared to the previous day, according to market data.
Fueling the momentum was news that JPMorgan Asset Management has committed up to $500 million in funding for Numerai. The San Francisco-based firm, which combines artificial intelligence and crowdsourced data science to run its hedge fund, has already expanded its assets under management from $60 million to $450 million in just three years. The new partnership with JPMorgan was described by Numerai as its “largest milestone to date.”
Meanwhile, on-chain activity also points to growing investor conviction. More than $7 million worth of NMR tokens are now staked on Numerai’s platform, up from $5.5 million just three months ago. Since only 7.5 million NMR tokens are in circulation out of a maximum supply of 11 million, this increase in locked tokens has tightened supply, amplifying upward pressure on the price.
The spike in NMR also reflects renewed enthusiasm for AI-focused cryptocurrencies. While larger projects such as Fetch.ai (FET) and SingularityNET (AGIX) have cooled off recently, Numeraire is seen as an undervalued opportunity. Despite the rally, NMR still trades roughly 76% below its 2025 peak of $68, suggesting further upside in the eyes of some investors.
The rally unfolded against a broader market uptrend, with the global crypto market cap rising 2.47% to $3.87 trillion and Bitcoin holding steady above $111,000. Yet even in this bullish environment, Numeraire’s surge has stood out as one of the most dramatic single-day moves in the sector this year.
