SPELL

Spell TokenSPELL

Rank #185
Token
On 82,897 watchlists

Spell Token Price (SPELL)

$0.001382
2.68%

0.00000004651 BTC1.77%

0.0000007089 ETH0.14%

Low:$0.001361
High:$0.001434
24h
SPELL  Spell Token SPELL
Price:
$0.001382
 2.68%
Market Cap
$126,129,911
2.68%
Fully Diluted Market Cap
$270,980,777
2.68%
Volume
24h
$15,845,967
24.05%
Volume / Market Cap
0.1256
Circulating Supply
91.23B SPELL
47%
Max Supply
196,008,739,620
Total Supply
103,214,939,480
Sponsored

Spell Token to USD Chart

Loading Data

Please wait, we are loading chart data

Converter

SPELL

Spell Token

USD

United States Dollar

SPELL Price Statistics

Spell Token Price Today
Spell Token Price$0.001382
Price Change24h-$0.0000381
2.68%
24h Low / 24h High
$0.001361 /
$0.001434
Trading Volume24h$15,845,966.62
24.05%
Volume / Market Cap0.1256
Market Dominance0.01%
Market Rank#185
Spell Token Market Cap
Market Cap$126,129,911.29
2.68%
Fully Diluted Market Cap$270,980,776.53
2.68%
Spell Token Price Yesterday
Yesterday's Low / High
$0.001361 /
$0.001434
Yesterday's Open / Close
$0.001399 /
$0.001367
Yesterday's Change

2.31%

Yesterday's Volume$15,102,379.44
Spell Token Price History
7d Low / 7d High
$0.001277 /
$0.001624
30d Low / 30d High
$0.0009847 /
$0.004011
90d Low / 90d High
$0.001031 /
$0.006441
52 Week Low / 52 Week High
$0.0005916 /
$0.07515
All Time High
Nov 16, 2021 (6 months ago)
$0.07515
98.16%
All Time Low
Aug 18, 2021 (9 months ago)
$0.0005916
133.67%
Spell Token ROI
No Data
Spell Token Supply
Circulating Supply91,233,648,586 SPELL
Total Supply103,214,939,480 SPELL
Max Supply196,008,739,620 SPELL

SPELL to USD Converter

SPELL

Spell Token

USD

United States Dollar

SPELL Price Live Data

The live Spell Token price today is $0.001382 USD with a 24-hour trading volume of $15,845,967 USD. We update our SPELL to USD price in real-time. Spell Token is down 2.68% in the last 24 hours. The current CoinMarketCap ranking is #185, with a live market cap of $126,129,911 USD. It has a circulating supply of 91,233,648,586 SPELL coins and a max. supply of 196,008,739,620 SPELL coins.

If you would like to know where to buy Spell Token at the current rate, the top cryptocurrency exchanges for trading in Spell Token stock are currently Binance, OKX, Bybit, Hotcoin Global, and Bitget. You can find others listed on our crypto exchanges page.

What Is Spell Token (SPELL)?

Spell Token (SPELL) is a reward token associated with abracadabra.money, a lending platform that uses interest-bearing tokens (ibTKNs) as collateral to borrow a USD-pegged stablecoin called Magic Internet Money (MIM). Abracadabra uses the Kashi Lending Technology pioneered by SushiSwap (SUSHI) to provide isolated lending markets that allow users to adjust their risk tolerance according to the collateral they decide to use. Users can deposit collateral and borrow MIM against it. Abracadabra also offers yield farming opportunities, where users can stake their liquidity provider (LP) tokens to farm SPELL. This facilitates better liquidity for certain cryptocurrency pairs, currently Ether (ETH)-Spell Token (SPELL) and Magic Internet Money (MIM)-LP 3pool Curve (3CRV). Furthermore, users can also open leveraged farming positions using borrowed MIM from their interest-bearing collateral.

Who Are the Founders of Spell Token?

Abracadabra is not an official decentralized autonomous organization (DAO) but is instead governed through a Snapshot page. MIM are minted through a 6/10 multisignature contract composed of the following partially pseudonymous users:

What Makes Spell Token Unique?

Thanks to the Kashi Lending Technology introduced by SushiSwap, Abracadabra’s isolated lending markets have sparked a wave of innovation in decentralized finance (DeFi) lending. In an isolated lending market, the risk is not shared collectively. Users can provide liquidity for any token and if the currency pair loses its liquidity or something happens to the smart contract, only that pair is affected and not the entire platform. This allows Abracadabra to offer various pairs that are not supported by most other decentralized exchanges (DEXs).

One of the features of using this technology is that users can leverage their interest-bearing token positions. Users borrow against their positions and then again borrow against the borrowed stablecoin, creating several loops and thereby increasing their leverage. All of this is done in one transaction, which is why the user only pays a gas fee once.

Spell Token (SPELL) can be farmed by providing liquidity in one of the different pools. SPELL can also be staked, and staked tokens accrue a share of the platform fees (interest, borrowing fees, and 10% of the liquidation fee for certain markets), which auto-compound.

Check out Dai (DAI) — a crypto asset-backed stablecoin.

Check out Tether (USDT) — a popular stablecoin pegged to USD.

Read our in-depth article about mining Ether (ETH).

Get the latest crypto news and latest trading insights via the CoinMarketCap blog.

How Many Spell Token (SPELL) Coins Are There in Circulation?

The total supply of Spell Token (SPELL) is 210 billion, with 210 billion having been burned after token generation. The token distribution is as follows:

  • 63% (132.3B SPELL): global farming incentives
  • 30% (63.0B SPELL): team allocation (4 year vesting schedule)
  • 7% (14.7B SPELL): initial DEX offering

SPELL will follow a ten-year halving model, which will cut in half the rewards distributed every year. 50% of team tokens are to be issued in the first year, 25% in the second, and 12.5% in the third and fourth years. Each week, 624 million SPELL are emitted. SPELL is also used as a governance token, with users having voting power according to how much they have staked.

How Is the Spell Token Network Secured?

Abracadabra is a multichain protocol, with Spell Token (SPELL) therefore available on Ethereum (ETH), Avalanche (AVAX), Fantom (FTM), and Arbitrum.

Ethereum is one of the most popular blockchains out there and is the go-to solution for many decentralized application (DApp) developers. A set of nodes validate transactions and secure the Ethereum blockchain, and the network is in the process of transitioning from using a proof-of-work (PoW) consensus mechanism to proof-of-stake (PoS).

Unlike PoS or PoS, Avalanche uses a directed acyclic graph (DAG) protocol, in which all nodes process and validate transactions.

Fantom uses its own proprietary consensus mechanism, which allows both for higher capacity and two-second transaction finalization, alongside security improvements.

Arbitrum is a layer two scaling solution for Ethereum that uses optimistic rollups to achieve faster transaction times and near-zero gas fees.

Can Spell Token Hit $1?

Although Spell Token (SPELL) has been in a continuous uptrend and has an impressive market capitalization of almost 2 billion dollars, it is unlikely that it will ever hit $1, due to its enormous total supply. If the community decided to burn more SPELL from the total supply and if Abracadabra integrated with more protocols, SPELL could continue its uptrend in the future and reach new all-time highs.

Where Can You Buy Spell Token (SPELL)?

Spell Token (SPELL) is available on FTX, SushiSwap and Gate.io.

Converter

SPELL

Spell Token

USD

United States Dollar

SPELL Price Statistics

Spell Token Price Today
Spell Token Price$0.001382
Price Change24h-$0.0000381
2.68%
24h Low / 24h High
$0.001361 /
$0.001434
Trading Volume24h$15,845,966.62
24.05%
Volume / Market Cap0.1256
Market Dominance0.01%
Market Rank#185
Spell Token Market Cap
Market Cap$126,129,911.29
2.68%
Fully Diluted Market Cap$270,980,776.53
2.68%
Spell Token Price Yesterday
Yesterday's Low / High
$0.001361 /
$0.001434
Yesterday's Open / Close
$0.001399 /
$0.001367
Yesterday's Change

2.31%

Yesterday's Volume$15,102,379.44
Spell Token Price History
7d Low / 7d High
$0.001277 /
$0.001624
30d Low / 30d High
$0.0009847 /
$0.004011
90d Low / 90d High
$0.001031 /
$0.006441
52 Week Low / 52 Week High
$0.0005916 /
$0.07515
All Time High
Nov 16, 2021 (6 months ago)
$0.07515
98.16%
All Time Low
Aug 18, 2021 (9 months ago)
$0.0005916
133.67%
Spell Token ROI
No Data
Spell Token Supply
Circulating Supply91,233,648,586 SPELL
Total Supply103,214,939,480 SPELL
Max Supply196,008,739,620 SPELL