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Spell Token (SPELL) is the 288th largest cryptocurrency in the world by market cap, valued at $122,021,129. The current price of Spell Token is $0.0008793, which is 24.353% higher than yesterday. Prices have ranged between $0.00080363 and $0.00067163 over the past 24 hours. All prices are listed in US dollars and accurate as of April 01, 2023 04:04 UTC.
Spell Token is basically an Ethereum token that governs the Abracadabra.money ecosystem, a platform that facilitates the deposition of crypto backed collateral (via a range of assets such as yvYFI, yvUSDT, yvUSDC, etc) so as to mint MIM, a stablecoin with a 1:1 peg with the US dollar.
According to CoinbaseCoinbaseSpell Tokens can be easily staked by their owners to accrue sSPELL, an asset that allows users to not only gain access to the platform’s governance processes but also reap various incentives.
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