Spell Token (SPELL) Price Prediction 2024-2040

In the DeFi era that started around the end of the 2010s the main purpose of many altcoins is just to 

provide people with opportunities to earn via cryptocurrency. You can stake these tokens, lock them up in liquidity pools, swap them relentlessly, and perform other actions that don't have any other purpose aside from growing the value of your crypto portfolio.

One of the many platforms providing DeFi tokens is Abracadabra Money. Its set of tokens includes a stablecoin MOM, a staking token sSPELL, and a token for incentives called SPELL. This article reviews the SPELL token and provides the SPELL token price prediction for 2030, 2040, and other years.

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What Is Spell Token (SPELL)?

SPELL token is an incentive token of the crypto lending platform called Abracadabra Money. Users mint (via Cauldrons), lend, or borrow USD-pegged stablecoin called MIM (Magic Internet Money). The peg is adjusted via arbitrage trading by bots and ordinary traders. A SPELL token is used as a collateral. 

On top of that users may stake Abracadabra Money liquidity provider tokens to farm SPELL tokens. Also, SPELL is a governance token of Abracadabra Money. You can participate in the decision making on the platform through staking SPELL tokens. 

The original SPELL token is based on the Ethereum blockchain and is bridged to Arbitrum. Optimism, BSC, Fantom Opera, and Avalanche have wrapped versions of the SPELL token. 

The total supply of the SPELL token is 210 billion units. The initial supply was 420 billion units but half of this amount was burnt. Over 63% of the SPELL supply is used as incentives on the farming platforms, 30% is allocated among the Abracadabra Money team members, and the rest of the tokens were used in the initial DEX offering.

The team of the Abracadabra Money is pseudonymous and is associated with various other cryptocurrency platforms. The team includes Poolpi (yearn.finance), Leo Cheng (Cream Finance), Michael (Curve DAO Token), Julien (Stake DAO), C2tp (Convex Finance), Sifu and Danielesesta (both from Wonderland), Squirrel and Georgiy (both from Popsicle Finance), and 0xmerlin, not involved in other projects.

Spell Token (SPELL) Price Prediction for 2024, 2025, 2027, 2030, 2035, 2040

As of July 30, 2024, the SPELL price is $0.00067. The market cap is a bit below $100 million. According to Coin Market Cap, SPELL occupies the 382nd position in terms of market capitalization which is not bad, considering that there are over 10,000 currencies in the crypto space. The token is available on many of the top exchanges including Binance, Kraken, Coinbase, Gate.io, and others. Below you can see the SPELL token price prediction for 2025, 2030, 2040, and other years.

Now let's see the fundamentals behind these figures. 

2024

The upwards trend continues for over a year for SPELL. 2024 saw several ups and downs for SPELL. By the end of the year the price may not regain the highest value it had in 2024, but will certainly rise above the $0.0007 mark.

2025

The post-halving year may see slower dynamics, however, for such a token as SPELL it doesn't mean that the price will stop growing. Abracadabra Money continues to bridge its tokens to more blockchains and widen its roster of tokens supported as collateral. It will help SPELL token to establish a higher price. By 2026 the price may reach around $0.001.

2027

The market will start to warm up as the 2028 BTC reward halving is getting closer (we can't overestimate the significance of this event). For sure the general sentiment will help SPELL to keep on growing further. In 2027 the SPELL price will cross the $0.002 mark. At best it will reach $0.0025.

2030

The increased support from big exchanges, wider roster of tokens on Abracadabra Money, and higher involvement in crypto from institutional investors and the general public will propel SPELL even higher. The 2028 BTC halving will play its role too. By the end of 2030, the SPELL price has all chances to reach around $0.0075.

2035

Predicting the 2035 SPELL price based on fundamentals is nearly impossible as we don't know much about the events in the 2030s. We assume that the crypto sector will become more mainstream by that time and cryptocurrencies including SPELL and DeFi tokens in general will be embraced by broader demographics. Based on tech analysis, the SPELL price in 2035 may reach $0.04. It may go much higher as a result of adoption by huge companies and similar significant collaborations.

2040

By the beginning of the 40s the SPELL price may cross the $0.2 mark and even gain up to $0.255. However, much depends on fundamentals, so the price may vary.

Spell Token (SPELL) Price Analysis for the Past Several Years

SPELL reached its highest value in the 2021 bullrun. Ever since it was pretty low but the price keeps on climbing up. Let's analyze the SPELL price trajectory for the past few years.

In the table below you can see the main highlights of the SPELL journey with dates, prices, and short commentary. Under the table, there is more detailed information on the price history of the SPELL token.

SPELL appeared on markets at the price of $0.001 on May 28, 2021. The summer of 2021 saw shaky prices for crypto after Musk announced that Tesla will no longer accept payments in BTC. The SPELL price was no exception. It was fluctuating slightly below the $0.001 level. 

Gate.io was one of the first huge exchanges to list SPELL. Listing was announced in September of 2021 when the crypto market began to rise. November saw a huge crypto rally. SPELL reached its maximum price at that time, peaking at $0.035. 

By December 5 SPELL dropped below $0.01. Then, the price began to recover. On December 9, the SPELL token was listed on Coinbase, the biggest US crypto exchange. SPELL reached $0.026 around the time when Binance, the biggest crypto exchange in the world, announced the SPELL token listing.

In March the price was going down, reaching $0.0035 at some point.

On April 1, 2022, SPELL was listed on Kraken, one of the biggest crypto exchanges in the US. Three days later the SPELL price reached $0.0058. For the next few months the price was mainly declining.

In June 2022 the price was below $0.0008. For over a year the price was fluctuating around the $0.0005 level. August of 2023 saw a great buying opportunity when the price quickly dropped to $0.0003. 

Only when the new crypto market rally started in 2024, the SPELL price began to take off again. In March 2024 SPELL reached $0.00159. In the summer the price declined again.

Q&A

Is SPELL a good investment?

We can't give investment advice. On the one hand, SPELL is one of the top 400 cryptos by market cap. On the other hand, it proved unable to regain the 2021 ATH. 

What will be the SPELL price in ten years?

In 2034 the SPELL price may reach around $0.032.

Should I buy SPELL now?

As of August of 2024, the SPELL price is far from its peak values. Some may consider it a buying opportunity. However, it's your responsibility to figure out when you should invest in SPELL or should you do that at all.

Conclusion

SPELL is above the average performing DeFi token that can serve as an addition to a diverse crypto portfolio. The token fails to exceed its 2021 ATH, however, the project continues to evolve, moving the token price further.