SPELL
$0.00025201920426634063
Spell (SPELL) Price
$0.00025201920426634063
Spell (SPELL) Price Today
The live price of Spell is 0.00025201920426634063 USD. In the past 24 hours, the trading volume of Spell was 5,532,578.99 USD, down by -3.42%. The current price has decreased by -9.48% from its 7-day high of 0.03 USD, and increased by 0.00023817% from its 7-day low of 0.00025527 USD. With a circulating supply of 196,008,739,620.00 Spell, the market cap of Spell is currently 80,826,162.00 USD, down by 0% in the last 24 hours. Spell currently ranks #706 by market capitalization among cryptocurrencies.
Spell (SPELL) Market Data
Market Cap
$43.1M
24h Volume
$5.5M
Circulating Supply
171.5B SPELL
Maximum Supply
210B SPELL
Fully Diluted Market Cap
$49.3M
Liquidity Indicator
12.81%
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FAQ
About Spell (SPELL)
How can I buy Spell (SPELL)?
Buying Spell (SPELL) on BingX is simple and secure. Create an account, deposit USDT or another supported asset, and purchase Spell (SPELL) directly in the Spot Market. The tokens will then appear in your BingX Spot Wallet, ready for trading or transfer at anytime. Discover How to Buy SPELL Guide for more information.
What Is Spell Token (SPELL) and How Does It Work?
Spell Token (SPELL) is the native utility and governance token of Abracadabra.money, a DeFi lending protocol that lets you borrow the USD-pegged stablecoin MIM (Magic Internet Money) using interest-bearing assets as collateral. The project allows users to unlock liquidity from yield-generating tokens such as stETH, yvUSDT, and other interest-bearing vault tokens without giving up their yield. SPELL plays a key role in aligning incentives across borrowers, stakers, and protocol participants.
SPELL works by powering the governance and incentive mechanisms within Abracadabra. Holders can vote on protocol parameters such as collateral listings, interest rates, fee models, MIM minting caps, and risk controls. Users can also stake SPELL to receive sSPELL, a staked version of the token that earns a share of protocol fees generated from borrowing interest and liquidation penalties. This creates a reward loop where increased protocol usage directly benefits SPELL stakers.
The token also supports liquidity mining and ecosystem growth, with SPELL emissions used to incentivize liquidity providers across various pools that reinforce stable MIM trading. As Abracadabra expands to multiple blockchains, SPELL continues to act as the unifying asset across its cross-chain deployments. Its utility, staking rewards, and governance influence make SPELL an essential component of the Abracadabra.money ecosystem.
When Did Spell Token Launch?
Spell Token was launched in May 2021 as the native token of Abracadabra.money, a DeFi lending protocol built to allow users to borrow stablecoin against interest‑bearing assets. The protocol was founded by an anonymous team including a pseudonymous co‑founder “Squirrel” and prominent DeFi developer Daniele Sestagalli, of prior involvement with projects such as Popsicle Finance and Wonderland.
Spell Token Roadmap and Key Milestones
- May 2021 — Initial launch of SPELL token alongside the founding of Abracadabra.money.
- Mid‑2021 (post‑launch) — SPELL began being distributed and used within the protocol for governance, staking (sSPELL), and liquidity‑mining incentives.
- 2022 and beyond — Abracadabra expanded support across multiple blockchains (multi-chain deployments), growing the reach of SPELL utility beyond Ethereum.
- Ongoing (2023–2025) — Continued governance of Abracadabra, liquidity‑mining incentive programs, staking, and cross‑chain strategy, aiming to grow adoption and integrate broader DeFi ecosystem support.
What Is the SPELL Token Used for?
SPELL is primarily used for governance, allowing holders to vote on key Abracadabra.money decisions such as collateral listings, interest rates, MIM minting limits, and protocol risk parameters. It is also used for staking, where users lock SPELL to receive sSPELL, a staked token that earns a share of protocol fees generated from borrowing interest and liquidations. In addition, SPELL supports liquidity incentives, rewarding users who provide liquidity to MIM and SPELL trading pools across supported blockchains.
You can trade SPELL on the BingX spot market by logging into your account, searching for the SPELL/USDT trading pair, and placing a buy or sell order instantly. BingX provides real-time charts, low trading fees, and secure wallet infrastructure to help you trade SPELL with ease.
What Is Spell Token Tokenomics?
Abracadabra protocol has a fixed supply of 210 billion SPELL tokens.
SPELL Token Allocation
- 63% (132.3B SPELL) – Global Farming Incentives for LP rewards and liquidity mining
- 30% (63.0B SPELL) – Team Allocation with a 4-year vesting schedule
- 7% (14.7B SPELL) – Initial DEX Offering (half on Uniswap v3, half on Sushiswap)
What Blockchain Network Does Spell Token Operate on?
Spell Token (SPELL) operates primarily on the Ethereum blockchain as an ERC-20 token, ensuring compatibility with the broader DeFi ecosystem. Over time, Abracadabra.money has expanded SPELL to multiple chains through cross-chain bridges, enabling transactions and liquidity on networks like Arbitrum, Avalanche, Sonic, and Binance Smart Chain. This multi-chain presence allows users to interact with SPELL and MIM across various DeFi platforms while maintaining Ethereum as the core settlement layer.
Which Wallets Support SPELL Tokens?
You can store your SPELL tokens directly on BingX, which offers a secure, custodial wallet with built-in trading and portfolio management features. Keeping SPELL on BingX allows you to buy, sell, or transfer tokens instantly without switching platforms, making it one of the most convenient options for active traders.
For users who prefer self-custody, SPELL is compatible with any wallet that supports ERC-20 tokens on Ethereum and its bridged networks. Popular options include MetaMask, Trust Wallet, Ledger, Rabby, and Base App, all of which allow you to store, send, and interact with SPELL across DeFi platforms. Since SPELL also exists on chains like Arbitrum, Sonic, and Avalanche, you can access it using multi-chain wallets that allow easy network switching for DeFi use cases.
Is Spell Token (SPELL) a Good Investment?
Spell Token (SPELL) may be considered a strong investment for users who believe in the long-term growth of Abracadabra.money and the wider DeFi lending sector. Its value is tied to the protocol’s adoption, as staking SPELL for sSPELL grants holders a share of protocol fees and direct governance influence over collateral listings, interest rates, and ecosystem upgrades.
With a large portion of the supply dedicated to liquidity incentives, SPELL benefits when MIM borrowing and cross-chain usage increase. Its presence across multiple blockchain networks also broadens liquidity and user accessibility. While market volatility remains a factor, SPELL’s utility-driven design, fee-sharing model, and governance role provide meaningful fundamentals that appeal to long-term DeFi participants.
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Spell (SPELL) Price Converter
- SPELL to USD1 SPELL = $ 0
- SPELL to VND1 SPELL = ₫ 6.63
- SPELL to EUR1 SPELL = € 0
- SPELL to TWD1 SPELL = NT$ 0
- SPELL to IDR1 SPELL = Rp 4.19
- SPELL to PLN1 SPELL = zł 0
- SPELL to UZS1 SPELL = so'm 3.03
- SPELL to JPY1 SPELL = ￥ 0.03
- SPELL to RUB1 SPELL = ₽ 0.02
- SPELL to TRY1 SPELL = ₺ 0.01
- SPELL to THB1 SPELL = ฿ 0
- SPELL to UAH1 SPELL = ₴ 0.01
- SPELL to SAR1 SPELL = ر.س 0
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Frequently Asked Questions about SPELL (Spell)
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