Numerai founder Richard Craib addressed inaccuracies in the Total Value Locked (TVL) reporting, emphasizing the need for accurate information.
Discrepancies in Data Reporting
Richard Craib publicly addressed a discrepancy in the TVL reporting for Numeraire (NMR). While CoinMarketCap lists the TVL as $4 million, Craib clarified that 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."
Community and Market Reactions
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 Investments
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.
Discrepancies in TVL reporting underscore the need for accurate data provision in the DeFi space and its impact on investor perceptions of projects.
