One altcoin is enchanting the crypto world after a surprise listing on the Crypto.com App digital currency exchange.
In a new blog post, Crypto.com says that users can purchase Spell Token (SPELL) using USD, EUR, GBP and nearly two dozen other fiat currencies.
[adinserter block="1"]News of the listing sent SPELL skyward, increasing 45% from $0.011 to a weekly peak of $0.016 right after the announcement.
SPELL is an Ethereum token that governs the Abracadabra.money platform where users deposit interest-bearing cryptos to mint the stablecoin Magic Internet Money (MIM).
Users can stake SPELL to obtain sSPELL tokens that will grant them platform voting rights and a claim to fees generated by the protocol. The altcoin has a maximum supply of 210 billion.
MIMs can be traded with other stablecoins including Tether (USDT), Dai (DAI) and USD Coin (USDC).
Spell Token joins a roster of more than 200 cryptocurrencies and stablecoins supported by the Crypto.com App.
The crypto exchange recently announced partnerships with several leading sports franchises, including the Los Angeles Lakers, Formula 1 Racing and the UFC.
The price of SPELL has corrected to $0.014 at time of writing. It reached an all-time high of $0.035 on November 2nd.
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