If you love crypto and magic, you would love abracadabra.money and its appropriately named SPELL token. Abracadabra is a crypto project that allows you, the spell caster, to borrow money from its pool of funds. This magical world of crypto money has drawn fascinated followers, who are always on the lookout for speculations about the future of their beloved SPELL tokens. In this article, after a quick SPELL token review, we take a deep dive into the future SPELL Token price predictions, with expert speculators and technical indicators serving as guiding soothsayers wielding magical wands.
Table of contents
What Is SPELL Token?
Abracadabra is a multichain lending protocol that works across different blockchains, including the Binance Smart Chain, Ethereum, Avalanche, Fantom, and Arbitrum protocols. Through the innovative Kashi Lending Technology, Abracadabra gives you access to isolated lending markets, where you can provide interest-bearing collateral assets (mostly ibTKNs) in exchange for magic internet money (MIM), a stable coin pegged to the United States dollars.
SPELL token is the native ERC-20 token that powers the Abracadabra protocol. It serves as the token reward you receive when you return borrowed or exchanged MIMs to the protocol’s fund pool, called spellbook in the Abracadabra world. The current use cases for SPELL tokens include staking, liquidity mining, and governance.
|Market Capitalization||~$328.7 Million|
|Total Supply (Circulating Supply)||196 Billion (87.68 Billion)|
Is SPELL Token Worth Buying?
On their own, the SPELL tokens do not solve any real-world problems. However, the incentivized stable coin lending of the abracadabra protocol is a sustainable economic model that makes a compelling case for the long-term worth of the abracadabra protocol, and by extension, SPELL tokens.
SPELL Token Forecast
Even for a magical coin like SPELL, investors and speculators are still worried about its future profitability, leading to demands for a forecast about its future price from key technical indicators and growth estimates. In the following texts, we have compiled reasonable predictions made by some industry leaders to serve as a guide to you and other spellcasters in the ever-changing crypto market.
Price Prediction 2022
After an impressive performance in 2021, SPELL started 2022 at $0.024 but has since rapidly declined and is currently trading at a lowly $0.0037 price point (more than 80% in YTD losses). For the rest of 2022, speculators are divided on where they expect the SPELL token to move next and are unsure if the token will recover from its massive selloff. WalletInvestor expects the 2022 price action to worsen, with a price forecast of $0.000387 by December, while DigitalCoinPrice predicts it will get better, with a $0.00528 target.
Price Prediction 2025
Speculators are not convinced about the continued profitability of SPELL, resulting in a polarizing price forecast for the SPELL token price prediction for 2025. WalletInvestor predicts SPELL will trade within the price range of $0.0000737 and $0.000111, while DigitalCoinPrice and TradingBeasts expect encouraging maximum SPELL prices of $0.00818 and $0.01486.
Price Prediction 2030
One encouraging sign is that speculators expect SPELL to still be around by 2030. PricePrediction predicts SPELL tokens will trade at an average price of $0.100, while DigitalCoinPrice predicts an average price of $0.017.
Price Prediction Reddit
SPELL token fans on Reddit are pretty bullish on the future price forecast of the coin. Although, their prices are on another level of optimism, with outrageous price targets set for SPELL for several reasons. While we might not take the words of shillers too seriously, it is necessary to point out that the coin has a healthy community following and can maintain profitability in the future.
Is SPELL Token A Good Investment?
The SPELL token could be a good investment if you are interested in stretching interest-bearing crypto assets to their mathematical limits. On one hand, SPELL tokens present liquidity rewards, Defi staking, and other interest-related opportunities for investors. And more, SPELL tokens can be invested in by directly purchasing them on the secondary market. Whichever way you choose to invest, SPELL tokens present a good investment opportunity.
Can SPELL Token Reach $1?
Currently trading at a little above $0.0037, the $1 price target seems to be a bit too high for the SPELL crypto token. Speculators are not confident of $SPELL reaching $1 anytime soon. But, it could happen in the next decade.
How To Buy SPELL Token With Crypto?
Are you looking earn rewards on your interest-bearing crypto assets? Swap $SPELL at the lowest fees with more than 700 cryptocurrencies at the best rate on the market. On Swapzone, you can easily swap SPELL through a wide range of instant cryptocurrency exchange providers. Review the providers, their offers, speed, and exchange rates and fins the best deal.
- Select any coin in the “Send” section.
- Enter the amount you wish to swap.
- Choose SPELL in the “Get Up To” section.
- Select an exchange offer to proceed.
- Enter your wallet address to receive your SPELL crypto.
- Send your coin deposit to a generated address.
- Receive your crypto!