Spell Token (SPELL) is a governance and reward token associated with abracadabra.money, a lending platform that uses interest-bearing tokens (ibTKNs) as collateral to borrow a USD-pegged stablecoin known as Magic Internet Money (MIM).
Within the Abracadabra protocol, there are two main tokens. It’s a governance token, SPELL and the other is MIM (Magic Internet Money). Spell Token also provides staking functionality.
CoinMarketCap estimates SPELL’s circulating supply is 102B SPELL while its maximum supply as 196B. Spell Token (SPELL) is traded on a number of cryptocurrency exchanges, such as Binance, OKX, Bybit, MEXC, and BingX, and others.
Spell Token (SPELL) Price Prediction 2022
Touching the lowest of the month at $0.0011864, Spell Token (SPELL) price swung from $0.0019201 to $0.0011864. SPELL bounced back from support level and is presently sideways in the market and is expected to be bullish in the coming weeks.
The long-term price prediction for SPELL for 2022 is bullish since it is unlikely to break the current support level anytime soon. We can expect SPELL to reach $0.0019201 in 2022.
