SPELL is the native cryptocurrency token of the Spell platform, which is a decentralized protocol that allows users to create, trade, and settle synthetic assets on the Ethereum blockchain.
Synthetic assets are blockchain-based representations of real-world assets or financial instruments, such as stocks, commodities, or currencies. They are designed to provide users with exposure to the price movements of these assets without requiring them to actually hold the underlying asset.
The Spell platform allows users to create and trade synthetic assets through a process called "casting." To cast an asset, users must first lock up a certain amount of SPELL tokens as collateral. This collateral is then used to back the value of the synthetic asset and ensure its price stability.
Once the asset is cast, it can be traded on the Spell platform or used in other applications, such as DeFi protocols or decentralized exchanges. When the asset is settled, the SPELL collateral is released back to the user.
Where to buy SPELL Token
You can find SPELL Token here at CoinTR Exchange! We are listing SPELL/USDT, SPELL/TRY on Spot Market and support up to 25X SPELLUSDT Perpetual Futures!
What is the Price of SPELL
The price of the SPELL token is $0.0008056 per unit. It has a market cap of $86,524,792 and a fully diluted market cap of $157,902,482. It also has a 24-hour trading volume of $40,037,314. You can check the live price of their token right here!
How to buy SPELL
Looking for a way to buy SPELL. You can purchase SPELL on CoinTR following the steps:
1. Log in your CoinTR account and click [Markets]. Click on [Spot].
2. Search “SPELL” using the search bar to see the available trading pairs. Take SPELL/USDT as an example,click [Trade].
3.Go to the [Spot] box. Enter the amount of SPELL you want to buy. You can choose from opening a Limit order or a Market order. Take Market order as an example. Click [Buy SPELL] to confirm your order. You will find the purchased SPELL in your Spot Wallet.
Disclaimer: The views, thoughts, and opinions expressed in the article shall not be considered as investment advice and do not reflect the position of CoinTR, please use it at your own risk.