What Spell Token governs

Spell Token (SPELL) is a DeFi protocol governance token, currently ranked 446th by market capitalization among the assets we track. Spell Token is the governance token of a DeFi protocol: holding it is less like owning a currency and more like owning a vote over how the protocol runs — and, in some designs, a share of the fees it collects.

How value is supposed to accrue

Usage drives everything here: more deposits and more volume mean more fees, and the token's value depends on whether those fees flow back to SPELL rather than evaporating to liquidity providers alone.

Where Spell Token sits in the market

With SPELL near $0.00011700, Spell Token carries a market capitalization of $19.78M. Around $3.43M changes hands across exchanges in a typical 24-hour window. That is a turnover of about 17.33% of the float — elevated, often a sign of narrative-driven trading.

What the price history shows

Across timeframes, SPELL shows 24-hour -4.77%, 7-day -8.63%, 30-day -7.58%, 1-year -74.27%. Within its stored 365-day daily history, SPELL mounted a low-to-high run of roughly 40% at its strongest stretch.

Volatility profile

Recent action puts Spell Token in the High-volatility band — it has been actively trading, with daily moves that would be unusual in traditional equities. Over the last 30 days the move totals -7.58%, a useful input for stop placement and position sizing.

How to evaluate a DeFi token like Spell Token

A grounded read on SPELL comes down to three questions:

  • Protocol revenue — fees the application actually earns, and whether any of it reaches SPELL holders.
  • Total value locked — how much capital trusts the protocol — and how sticky it is versus mercenary yield.
  • Token utility — whether SPELL is load-bearing (governance over real value, fee rights) or decorative.

This page pulls live market data, on-chain stats where available, exchange-by-exchange volume, and our forecast model into one view so you can work through those questions in a single place. None of it is investment advice — it is a structured starting point for your own research.