How to Buy Spell Token SPELL in 3 Simple Steps

In addition, users have multiple options to bridge between networks such as Fantom, Avax and Ethereum. This makes Abracadabra.money the only decentralized solution that offers stable coins on various chains. The current price of Spell Token is –, with a 24-hour trading volume of –. With a circulating supply of 81,005,428,628 SPELL, Spell Token’s fully diluted market cap stands at –. Cryptocurrencies can fluctuate widely in prices and are, therefore, not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework.

Easily deposit Australian dollars using a convenient method such as PayId/OSKO and then simply follow our step-by-step instructions to make your first purchase of . Confirm your purchase and will be instantly delivered to your Cointree account. Daniel is a big proponent of how blockchain will eventually disrupt big finance.

Who is behind the Spell token?

The contract has no way of accessing these tokens which ultimately turns the Token Smart Contract into a Burn Address. Some significant factors that can influence the demand for Bitcoin are adoption rates, Macro economic factors, News events, upgrades and advancements in its tech and investor sentiment. Yes, Swyftx is a safe and secure platform to buy and sell Spell Token .

The circulation supply of Spell Token is $74,096,113.23, with a market cap of 107,405,628,969 SPELL. SPELL’s price is mainly driven by the total value locked and the number of users accessing the spell book. The governance token, SPELL, of Abracadabra.money had an initial supply of 420 billion but has since been reduced to 210 billion through token burning. CFDs and other derivatives are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how an investment works and whether you can afford to take the high risk of losing your money.

SPELL Price Statistics

While fees should definitely be a consideration, experts say you also get what you pay for, especially when sticking to the bigger, more established exchanges like MEXC , BitGet, Bybit. If an exchange has more protections, better security, or other important features to you, it may be worth slightly higher fees. Exchange fees can vary greatly, and may be applied as a flat fee upfront or as a percentage of your trades. Fees can be based on price volatility, and many are charged per transaction. Not all exchanges offer every single cryptocurrency out there.

Currently, the best Spell Token exchange to buy SPELL is Binance, which saw $ 908,484 worth of Spell Token trading volume in the last 24 hours. However, you can also choose from other exchanges that list SPELL, such as OKX, Huobi Global, Kraken, gate.io and Binance Futures. The largest amount of Spell Token trading with fiat is done on Binance.

MIM is a fully decentralized, cross-chain capable stablecoin. Numerous cross-chain integrations have expanded SPELL’s reach throughout the ecosystem, according to Cointelegraph. Our multi-tier & multi-cluster system architecture and SAFU insurance fund protect your account. You have 1 minute to confirm your order at the current price.

Spell Token Price (SPELL)

This https://cryptolisting.org/currently accepts USA & International residents. This exchange is best for investors residing in Australia, Canada, Singapore, UK & internationally. As of early November 2021, the total value locked on Abracadabra reached $4.15 billion, a record at the time, according to Defi Llama.

It has a circulating supply of 107Bil SPELL tokens and a max supply of 210Bil. Get access to 70+ cryptoassets, free storage, and free tutorials. The anetaBTC project aims to attract bitcoin liquidity to the Cardano ecosystem. Cryptoassets are highly volatile and unregulated in some EU countries and the UK. At the moment, SPELL has a circulating supply of over 83 billion tokens. Abracadabra’s other native token is SPELL, which is based on the Ethereum blockchain and works as a governance token.

what is impossible decentralized incubator accessing crypto on MEXC , BitGet, Bybit is easy, and you can cash out your proceeds to your bank or PayPal account. To check Spell Token’s price live in the fiat currency of your choice, you can use Crypto.com’s converter feature in the top-right corner of this page. Currently, the most popular Spell Token exchange is Binance, which handled $ 908,484 worth of SPELL trades in the last 24 hours. Our low fees are backed up with transparent quotes, so you can buy more with every dollar invested. Quickly compare the past seven days’ price movements of with other cryptocurrencies. This risk is higher with Cryptocurrencies due to markets being decentralized and non-regulated.

What is the price of Spell Token (SPELL) ?

Its average cost is expected at around $0.019 during the year. The experts in the field of cryptocurrency have analyzed the prices of Spell Token and their fluctuations during the previous years. It is assumed that in 2025, the minimum SPELL price might drop to $0.006, while its maximum can reach $0.007. SPELL is the governance token of the Abracadabra.Money decentralized lending platform.

The SPELL token’s primary use cases are governance in the Abracadabra protocol and fees earned from the protocol. Abracadabra uses interest-bearing tokens like CRV, CVX and YFI as collateral to mint Magic Internet Money , a USD-pegged stablecoin. The maximum supply of SPELL is 210,000,000,000, which are distributed for global farming incentives, team allocation, and during the initial DEX offering. Abracadabra.money uses Kashi Lending Technology to provide isolated lending markets that allow users to adjust their risk tolerance according to the collateral they decide to use. Abracadabra.money also uses interest-bearing tokens such as yvUSDT or xSUSHI to provide users with various features such as borrowing, swaps and staking.

Is SPELL Token Worth Buying?

MIM loans can be taken out with a range of interest-bearing crypto assets as collateral. Only you can make this decision for yourself, although it helps to be well informed first. Those who provide liquidity to Abracadabra are rewarded with SPELL tokens, which can in turn be staked to generate even more rewards. Yes, you can store your Spell Token on an exchange, but this is not recommended for long-term storage.

Our price prediction forecasts use real-time Spell Token market data and all data is updated live on our website. This allows us to provide dynamic price predictions based on current market activity. Spell Token will follow a ten-year halving model, which will cut in half the rewards distributed every year. The easiest way to short Spell Token is through margin trading, usually with Perpetual contracts, Futures contracts, ETF/Leveraged. Only a few cryptocurrency trading platforms allows short selling due to the considerable risk involved in this type of trading.

Assuming he chose USDT, he can swap MIM for USDT in the Curve MIM-3Pool Metapool and receive 90,000 USDT. Swyftx also allows you to deposit cryptocurrency from another wallet into your account. After the analysis of the prices of Spell Token in previous years, it is assumed that in 2023, the minimum price of Spell Token will be around $0.003. Users have to repay the debt with interest to receive their collateral back, thereby reversing the “spell”. In Abracadabra.money, every MIM is backed by a specific interest-bearing token .

You can buy cryptocurrencies on Kraken with a Visa or Mastercard card, or you can fund your account through a wire transfer or other methods. You should be aware and prepared to potentially lose some or all of your money. You should carefully consider whether trading or holding cryptoassets is suitable for you in light of your financial condition. The primary role for the Spell token is running/governing the Abracadabra protocol i.e. SPELL gets staked in exchange for voting rights as well as a taste of fees generated by the protocol and some other rewards.

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 .

Abracadabra.money is a decentralized crypto lending platform that allows users to collateralize digital assets in exchange for stablecoin loans. However, Abracadabra is unique in that it utilizes interest bearing tokens — a type of liquidity provider token — as collateral. These ibTKNs are becoming increasingly common throughout the decentralized finance space.

In addition to these various use-cases, SPELL play a significant role in network governance, imbuing various voting rights upon token holders. 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. SPELL is also used as a governance token, with users having voting power according to how much they have staked. Spell Token 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.

• WSB prices fell sharply as the apparent token sale by insiders led to token holders dumping holdings en masse.
• It has a circulating supply of 107Bil SPELL tokens and a max supply of 210Bil.
• Cryptoassets are highly volatile and unregulated in some EU countries and the UK.
• This is primarily determined by the type of wallet and your jurisdiction.
• You should do your own research before investing in any company or product.

After 1 minute, your order will be recalculated based on the current market price. Arbitrum is a layer two scaling solution for Ethereum that uses optimistic rollups to achieve faster transaction times and near-zero gas fees. Please check the name, logo and contract address before trading to avoid losses. SPELL is the protocol’s token which is used for incentivization. The total Supply of SPELL has been reduced from 420B SPELL to 210B SPELL by performing a unique token burn event.

SPELL coin is the governance token of the Abracadabra.Money decentralized lending platform. You can trade SPELL with stablecoins on 34 Spell Token exchanges. The majority of Spell Token trading with stablecoins is done on Binance Futures.