What is the current price of Spell Token?
The current price of Spell Token is $0.00008495 with a 0.42% change in the last 24 hours.
Supply and ATH/ATL data provided by CoinGecko
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Prices and notionals are USD-equivalent venue units, with USDC collateral. No currency conversion is applied. Notional = venue price × base-asset size. Contract specifications
Derivatives and mapped ecosystem data, with source timings and coverage.
Spell Token is the governance and incentive token of Abracadabra.money, a lending protocol that lets users deposit interest-bearing collateral into isolated markets called cauldrons and borrow Magic Internet Money (MIM), a dollar-denominated stablecoin. The idea that made Abracadabra popular was simple: collateral that is already earning yield, such as a staked or wrapped position, keeps earning while it backs a loan.
SPELL itself is an ERC-20 on Ethereum at 0x090185f2135308BaD17527004364eBcC2D37e5F6. A live read returns the name Spell Token, the symbol SPELL, and 18 decimals. Holders stake SPELL to receive sSPELL, which carries governance rights and a claim on protocol fees.
Anyone researching SPELL should know up front that the protocol has a significant loss history, covered in detail below. It is a high-risk asset by any reasonable reading of its record.
Official sources:
Abracadabra launched in 2021 and is closely associated with the developer known as Daniele Sestagalli, who was simultaneously behind Wonderland and Popsicle Finance. That association became the protocol's first crisis.
In January 2022, the on-chain investigator ZachXBT revealed that Wonderland's treasury manager, known publicly as Sifu, was Michael Patryn, a co-founder of the collapsed Canadian exchange QuadrigaCX with a prior criminal record. Sestagalli confirmed the identity, said he had known for about a month, and asked Patryn to step down. SPELL fell sharply alongside the other tokens linked to the same developer, and the episode permanently damaged confidence in the group of projects.
Later that year, the collapse of the Terra ecosystem hit MIM's peg and left the protocol with bad debt, a problem it spent a long time working through.
The protocol has four moving parts.
Cauldrons Each cauldron is an isolated lending market with its own collateral asset, loan-to-value limit, interest rate, liquidation penalty, and debt ceiling. Isolation means a failure in one market should not automatically drain the others.
MIM Borrowers mint MIM against their collateral. MIM is a debt-backed stablecoin, not a reserve-backed one, so its peg depends on borrower behavior, liquidity depth, and the quality of the collateral behind outstanding debt.
Liquidation If a position falls below its required collateral ratio, liquidators repay the debt and take the collateral at a discount.
SPELL and sSPELL SPELL is emitted as an incentive and staked into sSPELL for governance and a share of protocol fees. Governance votes cover which assets can be used as collateral and what the maximum debt should be for each cauldron.
SPELL is used for governance over cauldron parameters, for staking into sSPELL to earn a share of protocol fees, and as the emission asset for liquidity incentives.
The supply story is where most published descriptions go wrong, so here is what the contract actually says. The verified contract, named Spell, exposes MAX_SUPPLY(), and a live read of that value returns 420,000,000,000 SPELL. A live read of totalSupply() returns approximately 419,996,432,678 SPELL, meaning issuance is effectively complete with only a few million tokens of headroom remaining. The contract does have a mint(address,uint256) function, restricted to an owner, and that owner address is a Gnosis Safe multisig contract.
The contract has no burn function at all.
That matters because SPELL is widely described as having had its supply halved to 210 billion through a burn. On-chain, the ceiling still reads 420 billion and the reported total still reflects the full mint. What actually happened is that a very large balance was moved out of reach rather than destroyed: the single largest SPELL holder is the token contract's own address, which holds roughly 224 billion SPELL. The contract exposes no function that can move its own balance, so those tokens are effectively immobile, but they are not burned, and the total the contract reports is unchanged. The conventional dead address, by contrast, holds only a few hundred thousand SPELL. Data sources that subtract the contract-held balance report a far smaller supply figure than the contract does, which is why published numbers disagree.
Abracadabra's original insight was genuinely useful: treat yield-bearing positions as first-class collateral so that borrowing does not force a user to give up the yield. That pattern is now common, and Abracadabra was early to it.
The token's supply arrangement is also unusual, though not in a flattering way. It is a case where a widely repeated burn narrative does not match the contract, and where the distinction between destroyed tokens and immobilized tokens is the whole point.
The token contract itself is simple and its mint function is effectively exhausted, with the owner role held by a multisig.
The protocol around it is a different story, and the record is the relevant evidence:
cook() path of a deprecated CauldronV4 deployment allowed unauthorized minting of about 1.79 million MIM; the DAO treasury repurchased the affected MIM from the market and borrowing was temporarily disabled during a code reviewThe recurring theme is that older, low-activity contracts stayed deployed and exploitable, and that MIM's peg is only as strong as the liquidity and collateral standing behind it.
Taken together, these are the characteristics of a distressed protocol token rather than a yield-bearing product, and the record above is the evidence a reader should weigh.
Abracadabra is a case study worth understanding even for people who never touch it. It shows how quickly a well-received DeFi design can be undermined by founder controversy, by leaving deprecated code deployed, and by a stablecoin whose peg depends on continuous liquidity provision. It also demonstrates why reading a token contract beats reading a token description.
SPELL trades on centralized exchanges and on Ethereum and Arbitrum decentralized exchanges. Liquidity and pair availability vary, and some venues have delisted it. Confirm the contract address before trading on a decentralized venue.
SPELL has been listed on venues including:
Pairs are typically quoted against USDT or USD where supported.
Staked positions in sSPELL are protocol positions, not wallet balances, and carry the protocol's smart contract risk in addition to the token's.
Compare SPELL with related DeFi protocols on Coinrithm:
Track Spell Token live price, chart, market cap, and volume in real time. Practice mock trading and demo trading for Spell Token on CoinRithm before using real money.
Use a crypto paper trading account to demo trade Spell Token with real-time prices, AI trade feedback, and trading leagues. Test strategies, learn risk management, and build confidence before trading Spell Token with real money.
Read the complete paper trading guideThe current price of Spell Token is $0.00008495 with a 0.42% change in the last 24 hours.
The daily trading volume is $175,867 representing a 11.37% change in the past 24 hours.
The market capitalization of Spell Token is $14,569,888, ranking #597 globally.
The fully diluted valuation (FDV) of Spell Token is $17,839,582, calculated assuming the maximum supply of 210,000,000,000 SPELL is in circulation.
Circulating: 171,510,541,047. Total: 196,008,739,620. Max: 210,000,000,000.
In the last 24 hours, Spell Token traded between a low of $0.00008298 and a high of $0.00008510.
SPELL/USDTTether USDT0.00008495 USDT
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Delve into Spell crypto's journey with an analysis of price trends, features, and growth potential. Explore its nuances and gain insights into its potential.
SPELL ~$0.000165, all-time low Feb 2026. Three hacks totalling $21M+, ~60% annual inflation, $28M market cap. Honest Abracadabra SPELL token forecast 2026-2030.
