Real-time SPELL price analysis
The current price of Spell Token in real time is $0.0009and its trading volume is equal to US$72,732,707 in the last 24 hours. The price of the SPELL is grew by
18.24%
on the last day and increased by
47.47%
in the last 7 days. It is important to note that Spell Token’s current market capitalization is US$97,206,811and the maximum offer is 196 008 739 620 SPELL coins. Speaking about working resources, SPELL has 107 405 628 969 coins. Currently the Spell Token market rating is #362.
Spell Token price today
98.80%
below
always on top and that’s it
323.47%
higher
always at a low level.
All data and prices are updated in real time. The most active and popular exchanges for buying or selling SPELL are Binance, Kucoin & Kraken. Find more cryptocurrency exchange options on our Cryptocurrency exchange tracker. The most secure hardware wallets to store your cryptocurrency: Ledger And Trezor.
What is a spell token (SPELL)?
Spell Token (SPELL) is a native token stablecoin lending platform Abracadabra. It is one of several resources available online, along with MIM and MIG. The spell is used to incentives and rates. It was developed using the ERC-20 token standard.
Abracadabra (stylized as abracadabra) is a multi-chain decentralized stablecoin lending service. It is available on Ethereum, Avalanche, Arbitrum and Fantom. SPELL’s current price and market cap are available above.
Who created the spell token?
Abracadabra was co-founder Daniele Sesta and Belka. Belka is a pseudonym, so Belka’s true identity is completely unknown. Sesta’s biography is also relatively unknown. Before starting work on the Abracadabra crypto platform, Sesta previously participated in various blockchain projects.
Abracadabra serves A direct competitor to MakerDAO. It offers decentralized stablecoin lending services using its tokens. MIM and MIG, which are tied to the value of the US dollar. SPELL serves as the platform’s staking token, which provides rewards and incentives for continued participation in the network.
The Abracadabra platform was launched in May 2021. Spell Token’s price volatility is relatively low, making it an attractive token for users. During its first year on the market, the Spell token has shown a tendency to follow general market trends. This was especially noticeable in November 2021.
The asset was also impacted by the crypto market crash in the second quarter of 2022. A year after its launch, in May 2022, SPELL’s recorded price was less than a cent and ranged from $0.003 to $0.005.
What are the features of a spell token?
Initially, the supply of Spell tokens was 420 billion. However, it has since dropped to 210 billion after a unique burning event occurred. 63% of the token supply was distributed worldwide. stimulation of agriculture. Awards bisected once every ten years. SPELL is deflationary in nature, meaning that the price of the Spell token is expected to rise over time.
Unlike MIM and MIG, this asset not a stablecoin. Thus, the price of SPELL may change frequently depending on exchange rates and market conditions.
SPELL is primarily used to provide liquidity and staking on the platform. By contributing liquidity, users are eligible to receive rewards that incentivize them to continue contributing. By placing a SPELL bet you can claim sSPELL tokens, which can also be used for protocol control.
Although Abracadabra does not function as DAOOwners of sSPELL and SPELL tokens can participate in the governance process. Users can propose and vote on protocol changes using their tokens. The management model ensures decentralization of the network.
What is the trading volume of Spell tokens in the last 24 hours?
SPELL has trading volume US$72,732,707 in the last 24 hours.
What is the highest price for a Spell token?
SPELL has the highest price $0.0751which was achieved at November 16, 2021 (2 years 3 months ago).
What is the lowest price for Spell token?
SPELL has the lowest price $0.0002which was achieved at December 11, 2022 (1 year 2 months ago).
Which exchanges are best for buying and selling SPELL?
Currently the most active and dominant exchanges for buying and selling Spell Token are Binance, Kraken & Kucoin. The most popular Spell Token trading pairs SPELL/USDT
(on
Binance
),
SPELL/USD
(on
Kinbase
),
SPELL/USDT
(on
DigiFinex
). Go to Catalog of crypto trades to access customized and exclusive discounts, vouchers and welcome bonuses from the most popular exchanges.
Which hardware wallets are the most secure for storing SPELL?
According to the process of in-depth analysis and testing, Ledger And Trezor are one of the most secure and popular hardware wallet options for storage Spell Token. For exclusive discounts and promotions on the best crypto wallets, visit Catalog of crypto trades.
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A cryptocurrency exchange is an online platform where you can buy, sell, or trade cryptocurrencies like Bitcoin, Ethereum, and others.
Safety varies by exchange. Look for platforms with strong security measures, like two-factor authentication and cold storage for funds.
Consider factors like security, fees, available coins, user interface, and customer support.
Centralized exchanges are managed by a company, while decentralized exchanges operate without a central authority.
Many exchanges require Know Your Customer (KYC) verification for security and regulatory compliance.
Trading fees vary but typically include maker fees (for adding liquidity) and taker fees (for removing liquidity).
Yes, most exchanges offer cryptocurrency-to-cryptocurrency trading pairs.
Withdrawal times depend on the exchange and the cryptocurrency. Some are instant, while others may take hours or even days.
A wallet address is like a bank account number for cryptocurrencies. It’s required to send your crypto to the right place.
Yes, depending on your country’s tax laws, trading cryptocurrencies may have tax consequences. Consult a tax professional for guidance.
Yes, many cryptocurrency exchanges operate 24/7, allowing you to trade at any time.
A market order buys or sells at the current market price, while a limit order sets a specific price at which you want to buy or sell.
Yes, each exchange sets its own minimum and maximum trading limits, which can vary widely.
It’s not recommended. For security, it’s better to use a cryptocurrency wallet, especially for significant holdings.
Exchanges typically have account recovery processes, including password reset options and support for forgotten usernames.
Some exchanges offer insurance, but coverage can be limited. It’s essential to check an exchange’s insurance policy.
Use strong passwords, enable two-factor authentication, and be cautious of phishing scams and suspicious emails.
Yes, but it’s recommended to learn the basics of trading and understand the risks involved before you start.
Stablecoins are cryptocurrencies pegged to the value of a fiat currency like the US dollar. They provide stability and are commonly used for trading and transferring funds on exchanges.
Yes, regulations vary by country. Many countries have implemented or are considering regulations to govern cryptocurrency exchanges for consumer protection and financial stability.
