At Cryptosiaweb.in we predict future Spell Token Price Prediction/Forecast by applying deep artificial intelligence-assisted technical Analysis on the past price data of Spell Token. We do our best to collect maximum historical data for the SPELL coin which include multiple parameters like past price, Spell Token marketcap, Spell Token volume and few more. If you are looking to invest in digital cryptocurrencies and want good return on your investments, make sure to read our predictions.
The live Spell Token price today is $0.004623 USD with a 24-hour trading volume of $150,615,833 USD. We update our SPELL to USD price in real-time. Spell Token is up 9.22% in the last 24 hours. The current CoinMarketCap ranking is #155, with a live market cap of $426,531,130 USD. It has a circulating supply of 92,266,180,585 SPELL coins and a max. supply of 196,008,739,620 SPELL coins.
If you would like to know where to buy Spell Token, the top cryptocurrency exchanges for trading in Spell Token stock are currently Binance, OKX, FTX, Hotcoin Global, and Bybit.
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:
Poolpi – yearn.finance (YFI)
Leo Cheng – Cream Finance (CREAM)
Michael – Curve DAO Token (CRV)
Julien – Stake DAO (SDT)
C2tp – Convex Finance (CVX)
Sifu – Wonderland (TIME)
Georgiy – Abracadabra and Popsicle Finance (ICE)
0xmerlin – Abracadabra
Danielesesta – Abracadabra, TIME and ICE
Squirrel – Abracadabra and ICE
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.
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.
What is the Future Potential of SPELL Token?
Spell token has great potential in the future and we much see this coin crossing $1 USD in the future if the market goes well. In case you are looking for safer investment in big projects consider investing in Bitcoin SV and Hashgraph. In addition to that, you have to hold your coins for longer as well.
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.
While if we look at the five-year token price forecast, it is expected to reach $0.271. The investment in Spell token will be beneficial for the investor because they will get $1115.23 for $100 they invest today. The growth rate that Spell token is expected to show till 2026 is 1015.23%.
Let Us First Look At Experts Prediction
"SPELL is bullish as of the current price predictions. SPELL is expected to reach $0.07 by December 2022. The addition in bulk shows that investors consider it an excellent option to bring profits.
The more time Spell token spends as bullish, the better its prices. As mentioned above, the five-year price forecast shows gains amounting to +1015.23%, which is better than any other token. So, based on the forecast system, we can infer that the bullishness will continue.
Wallet Investor predicts a return of 1015.23 percent for the investor, which is somewhat optimistic. Thus, consumers may study, but the token’s future seems bright.
TradingBeasts also shows positive metrics for Spell token growth. The forecast is mainly based on the analysis of previous data, current stats, and the investments that the mentioned token has attracted.
DigitalCoinPrice’s spell token price prediction is the most bearish, giving price targets of $0.0045 for 2022, $0.0063 for 2025 and $0.0160 for 2030. Most of the forecaster’s 26 metrics point to a sell strategy. Only six recommend buying SPELL.
Gov.capital’s spell token price prediction for 2022 sees it closing the year at $0.0154, while the spell token price prediction for 2025 is around the $0.02 mark. Over five years, the token could climb eight times over today’s value to $0.03.
They consider it a good investment based on the forecast data for 2022 and 2023. These two years’ data shows that Spell token will begin its journey in January 2022 with $0.0322629, and December 2023 would have taken it to $0.0587177.
Spell Token Price Prediction 2022
SPELL will be seen as a better option, and with the huge community Spell Token price will touch new highs. The price fluctuations are hard to predict, especially if the market is more bullish OR bearish than ever. For the year 2022, the price of Spell Token will be almost $0.005. The maximum price that we can get is $0.006. Spell Token average price forecast at the end of 2022 can be around $0.005. A huge price turnover is expected within the range defined by the crypto market.
Spell Token Price Prediction 2023
A seamless approach to this currency may be found on many websites and forums. In the opinion of this prediction platform, Spell Token will steady at its current price for a very long time to come. By 2023, the SPELL is expected to be worth a maximum value of $0.008. The minimum price can go up to $0.007 if the market gets bullish.
Spell Token Price Prediction 2024
As per the forecast price and technical analysis, In 2024 the price of Spell Token is predicted to reach at a minimum level of $0.010. The SPELL price can reach a maximum level of $0.012 with the average trading price of $0.011.
Spell Token Price Prediction 2025
The price of 1 Spell Token is expected to reach at a minimum level of $0.015 in 2025. The SPELL price can reach a maximum level of $0.018 with the average price of $0.015 throughout 2025.
Spell Token Price Prediction 2026
As the cryptocurrency industry enters a new era, there are indications it will experience growth. Confident that the SPELL price will rise in the long run since there is still hope that the currency will get more attention. With an average price of $0.025 and a minimum price of $0.021, the year 2026 might finish with a $0.022 average price and a $0.021 minimum price. A possible price of $0.024 is expected.
Spell Token Price Prediction 2027
According to our deep technical analysis on past price data of SPELL, In 2027 the price of Spell Token is forecasted to be at around a minimum value of $0.030. The Spell Token price value can reach a maximum of $0.037 with the average trading value of $0.031 in USD.
Spell Token Price Prediction 2028
SPELL has a lot of promise, and with the right partnerships and developments, the number of users and adoption might skyrocket. If the market focuses only on investing in Spell Token, the price may skyrocket. It can reach a maximum value of $0.052 by 2028. If the market falls, it is predicted that the SPELL will turn around a little. Also, with a minimum price of $0.045 and a maximum price of $0.052, the year 2028 might conclude with an average price of $0.047.
Spell Token Price Prediction 2029
As per the forecast and technical analysis, In 2029 the price of Spell Token is expected to reach at a minimum price value of $0.066. The SPELL price can reach a maximum price value of $0.080 with the average value of $0.069.
Spell Token Price Prediction 2030
The price of Spell Token is predicted to reach at a minimum value of $0.097 in 2030. The Spell Token price could reach a maximum value of $0.12 with the average trading price of $0.100 throughout 2030.
Here are some commonly asked questions about the SPELL tokens for beginners.
Is Spell token a good investment?
Yes, the predictions show that it can bring huge profits to investors. The metrics from different forecast sites are evidence of it.
Where To Buy SPELL Tokens?
If you want to buy this coin search for the platforms from where they can buy this coin. Visit the following platforms:
In Which Wallet I can hold SPELL Tokens?
Some trustworthy platforms are available on the Internet and the traders can easily hold the token through a wallet. Here is the list of some wallet platforms:
Will Spell Token Reach $1?
SPELL token is expected to reach the $1 Dollar mark in the next year. Still, the coin is actively getting traded on all the major platforms an unexpected price bum will hit the price of SPELL to reach 1 dollar. Our SPELL price prediction is just an estimation and the future price of the token will be higher than right now. getting early will be highly profitable.
Is it profitable to invest in Spell Token?
Over the last 30 days, Spell Token had 16/30 (53%) green days. According to our historical data, it is currently profitable to invest in Spell Token.
Is Spell Token a good buy in 2022?
Based on multiple technical quantitative indicators, the current forecast for Spell Token in 2022 is Neutral. This could be an indication that Spell Token is a good buy in 2022. However, it’s important to consider both technical factors (price history) and fundamental factors (on-chain activity and development) before making the decision to buy Spell Token or not.
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