NMR (Numeraire) rose 121.52% in 24 hours

Gate News Bot news, on August 27, according to CoinMarketCap data, as of the time of writing, NMR (Numeraire) is reported at $17.61, rising 121.52% in the last 24 hours, with a high of $18.30 and a low of $7.89, and a 24-hour volume of $334 million. The current market capitalization is approximately $132 million, an increase of nearly $72.6 million compared to yesterday.

Important recent news about NMR:

1️⃣ The delisting of trading pairs triggers market reaction On August 21, a major cryptocurrency exchange announced that it will delist the NMR/USDT trading pair on August 27. This decision may lead to a concentrated sell-off by some investors before the deadline, causing short-term price fluctuations. However, the market seems to be reacting contrary to expectations, with the NMR price rising instead of falling, possibly because some investors believe this move will reduce market selling pressure.

2️⃣ Increased Liquidity Concentration With some trading platforms removing NMR trading pairs, the trading volume on the remaining platforms may correspondingly increase. This concentration of liquidity could lead to increased price volatility, explaining the significant rise of 121.52% within 24 hours.

3️⃣ Investor sentiment is complex In response to the news of trading pairs being delisted, investor sentiment has shown divergence. On one hand, some investors may be concerned about future liquidity issues and choose to exit; on the other hand, there are also investors who may see this as a buying opportunity, leading to an increase in buying pressure in the short term, which drives prices up.

From a technical perspective, the NMR price has experienced such a significant rise in a short period, which may face correction pressure. Investors should closely monitor price trends and be wary of potential high-level pullback risks.

This message is not intended as investment advice; investors should be aware of market volatility risks.