3 reasons why DeFi users are bullish on Abracadabra, Magic Internet Money and SPELL By Cointelegraph

Stablecoins and their use in decentralized finance (DeFi) have performed a key function within the 2021 cryptocurrency bull market as a result of permit buyers to take part within the ever-growing variety of protocols that provide excessive yield staking swimming pools they usually ease the method of transacting without having to make use of a centralized trade.

One challenge that has seen a big quantity of adoption due to its deal with creating a really decentralized ecosystem and asset-backed stablecoin is the DeFi protocol and its native SPELL token.

SPELL/USD 4-hour chart. Supply: TradingView
Whole worth locked on Supply: Defi Llama