Spell Token
About Spell Token
Spell Token (SPELL) is the governance token of Abracadabra Money, a DeFi lending protocol that issues the stablecoin MIM using interest-bearing assets as collateral.
In the last hour, Spell Token's price has seen a change of -0.08%, and over the past 24 hours, its price has moved by +0.30%. Over the previous week, Spell Token's price has moved by +22.03%. The current price of Spell Token is OMR 0.00004058, accompanied by a trading volume of 19.07M in the last day. Spell Token's price is currently 99.86% below its all-time high of OMR 0.02897, which remains the highest price Spell Token has achieved since its launch. The circulating supply of Spell Token stands at 195.2B, translating to a total market capitalization of 7.923M.
Market stats
Frequently asked questions
How to invest in Spell Token?
Rain offers you a number of ways to start investing in Spell Token, including buying Spell Token through bank transfers or by using your bank card. To purchase Spell Token on Rain, you can select Spell Token in your Rain account, then click Trade and select Buy. Enter the amount you wish to buy and click Next to review and confirm your purchase.
How to buy Spell Token with card?
Once you add your bank card to your Rain account, you can use it to buy Spell Token directly. You can start by adding your card to your payment options on your Rain account. To purchase Spell Token using your bank card, you can select Spell Token, click Trade then select Buy. Enter the amount you wish to buy and choose your card from the payment options. Click Next to review and complete your purchase by following the instructions on the screen.
note: The purchase option with debit or credit card is not available for our users in Turkey
How to buy Spell Token through bank deposit?
Rain enables you to buy Spell Token using your local currency. You can deposit funds through bank transfer, a process which takes 1-4 business days depending on your location. You can start by depositing funds to your Rain account from your bank account. Simply click on Deposit and enter the amount you would like to transfer. Click next and copy the instructions that will appear on your screen to complete the transfer from your bank account. Note that Rain does not automatically pull funds from your bank account and you will need to manually transfer the funds from your bank account to Rain's banking information.
Within 1-4 business days, the funds will be available in your Rain account and you will be able to use them to complete purchasing Spell Token. To do that, you can select Spell Token in your Rain account, click Trade and select Buy. Enter the amount you wish to buy with and click Next to review and confirm your purchase.
How to sell Spell Token?
This is an easy process that requires only a few clicks. Here are the steps needed to sell Spell Token successfully:
On your Rain account, select Spell Token then click Trade and select Sell. Enter the amount you wish to sell and click Next to review and confirm your sell transaction by entering an OTP. You will receive a confirmation email once the transaction is done with the details.
How to convert Spell Token into cash?
Rain gives you the opportunity to sell Spell Token and withdraw your funds from your Rain account to your local bank account. First, you need to add your personal bank account to your Payment Methods option on your Profile.
Once your bank account is added, you can sell Spell Token and withdraw the funds to your bank account by clicking on Withdraw and entering the amount you wish to withdraw. Click Next to review and confirm your withdrawal information by entering an OTP.
Once the withdrawal request is submitted, you will receive a confirmation email that the withdrawal is being processed. Processing your withdrawal request can take between 1-4 business days.
How to receive Spell Token?
If you would like to receive Spell Token in your Rain account, simply click on Receive and select Spell Token from the list at the top of the page. You can then either copy the address visible at the botom of the screen or share the QR code to to complete your receive transaction.
Make sure that you are using the correct network when receiving Spell Token to avoid possible loss of funds.
How to send Spell Token?
You can easily send your Spell Token from your Rain account to any external wallet by clicking on Send and selecting Spell Token from the list at the top of the page. Enter the amount you wish to send and add the external wallet address you are sending to. Click Next to review and confirm your send transaction by entering an OTP.
Why buy Spell Token with Rain?
When you buy Spell Token with Rain, you ensure that your assets are going to be safely stored on a regulated platform that follows strict compliance standards and is subject to periodic audits. Rain also uses bank-grade security measures like Cold Storage systems. Trading and storing Spell Token on Rain also means that your asset is going to be stored on 1:1 basis, which means your assets will always be available to you.
What is a Spell Token wallet?
A Spell Token wallet is where you can securely store Spell Token. A wallet helps you maintain ownership of your asset as well as enable you to trade, send or receive crypto-assets.
What is a Spell Token address?
A Spell Token address is a string of unique characters that is tied to your Spell Token wallet. The address functions just like a bank account number and it is what you use in order to send Spell Token from your wallet, or to receive Spell Token to your wallet.
What trading pairs available for Spell Token?
There are over 200 currency pairs available on Rain for you to trade with. You can trade Spell Token with Bahraini dinar, Kuwaiti dinar, Emirati dirham, Omani rial or US dollar, depending on your location. Additionally, you can swap Spell Token with 200 other assets like BTC, LTC, XRP, ETH. You can explore your options by visiting the market page on your Rain account: https://www.rain.com/market
What is the minimum order size to buy Spell Token?
You can trade Spell Token with any amount above $30 or equivalent in your account's currency. You can start trading Spell Token now by clicking the Trade button on your Rain account.
What are the most popular cryptocurrencies besides Spell Token?
Besides Spell Token, you can find over 150 assets available on Rain for you to start trading such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), USDC, Ripple (XRP), DOGE, Tether (USDT), Chainlink (LINK) or BCH. You can explore these options by going to the homepage of your account and scrolling through the available assets. When you are ready to start trading, simply click on the asset of your choice and click Trade.
What blockchain is Spell Token built on?
Spell Token is built on the ETH blockchain. This determines how transactions are verified, fees are structured, and how compatible it is with wallets and other decentralized applications (dApps).
How do I keep my Spell Token safe?
To keep your Spell Token safe, make sure to use trusted wallets that support ETH. Enable two-factor authentication (2FA), store long-term assets in cold wallets, and never share your private keys with anyone. You can always refer to our Security & Policies section for more tips.
What will the price of Spell Token be in next 5 years?
Price predictions for Spell Token over the next five years are highly speculative and depend on crypto market conditions, adoption, and broader crypto trends. We encourage you to do your own research and make informed decisions.
Is trading Spell Token taxable?
Trading Spell Token may be considered taxable in some countries with varying tax rules, so we recommend checking with your local tax authority or financial advisor for specific guidance.
What is Spell Token's ATH?
Spell Token’s all-time high (ATH) was OMR 0.02897 on 16 Nov 2021. This represents the highest recorded market price of the asset to date.
What is the market cap of Spell Token?
With a market capitalization of 7.923M, Spell Token is ranked 371 among other crypto assets.
What is the all-time high of Spell Token?
The highest valuation of Spell Token since its launch was at OMR 0.02897, marking its all-time high.
What is the 24-hour trading volume of Spell Token?
The trading activity of Spell Token over the last 24 hours was at 19.07M, highlighting its liquidity in the market.
How many Spell Token are there in circulation?
There are approximately 195.2B units of Spell Token currently in circulation, affecting its market dynamics.
What is the relative popularity of Spell Token?
Spell Token market cap is around 7.923M.
Website
White paper
Source Code