The price of Spell Token (CCC:SPELL-USD) has skyrocketed higher by over 50% after Coinbase (NASDAQ:COIN) announced that it will provide trading coverage for the altcoin. Starting today, users of Coinbase Pro can transfer Spell tokens into their account. Trading of the Spell token will start tomorrow, Dec. 7 at 9 a.m. Pacific, for Coinbase Pro users only.
Source: OpturaDesign / Shutterstock.com
According to Coinbase, SPELL crypto is “a token that governs Abracadabra.money, a platform that lets users deposit collateral in the form of interest-bearing crypto assets (such as yvYFI, yvUSDT, yvUSDC, xSUSHI) in order to mint MIM, a stablecoin that attempts to maintain a value of US$1.00.”
Volume in SPELL crypto has surged to $115 million the past 24 hours. This is 260% greater than normal volume, which goes to show that fans of the SPELL crypto view the Coinbase Pro listing as a positive event. Certainly, it will bring more liquidity and media attention. The SPELL crypto first came to market during August of this year and has surged higher by 1,900% since its inception.
Additionally, starting tomorrow, several other tokens, such as Polkastarter (CCC:POLS-USD) and SuperFarm (CCC:FARM-USD), will be available on Coinbase Pro as well. However, it’s worth noting that Coinbase will only support the ERC-20 version of these tokens.
With the good news seemingly priced in, let’s take a look at how crypto analysts feel about Spell Token price predictions.
Spell Token Price Predictions: How High Can the Crypto Go?
- WalletInvestor has a 2026 price prediction of 41.1 cents. Impressively, this price prediction represents an upside of 3,014% from current prices. WalletInvestor‘s price target is based on technical analysis indicators and trend lines. Additionally, the platform warns potential investors that Spell token is susceptible to price manipulation due to its small market capitalization.
- CoinsKid has a 2o25 price prediction of 12.4 cents. Therefore, this prediction implies an upside of 839%. The prediction is based on CoinKid’s proprietary “Forecast System.”
- Digitalcoin has a 2028 price prediction of 5.76 cents. This represents an upside of 336%. Digitalcoin developed its Spell price prediction based on historical data and a proprietary algorithm.
- PricePrediction has a 2025 price prediction of 4.9 cents. This prediction implies an upside of 271%. The price target is based on PricePrediction’s proprietary model, which factors in inputs like historical prices, volume and market cap.
On the date of publication, Eddie Pan did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.