Magic Internet Money
Market Open
13 Sep, 08:35
$
0. 000560
+0
+0.0179%
$
1.86M Volume
$ 0.00056
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MIMUSD Overview
MIMUSD indicates the market price of Magic Internet Money (MIM) expressed in US dollars. It reflects how many USD are required to buy one MIM token and is used to quote the stablecoin’s value across centralized and decentralized trading venues.
Magic Internet Money is a blockchain-based cryptocurrency introduced in late 2021 by the team behind the Abracadabra.money protocol. MIM functions as an on-chain stablecoin that is minted when users deposit interest-bearing assets as collateral into the protocol. It is issued across multiple chains, does not have a fixed supply, and is subject to governance and protocol parameters managed by the Abracadabra ecosystem.
The MIMUSD exchange rate is determined by market supply and demand on spot markets and liquidity pools, and by on-chain minting/redemption activity. Arbitrage between venues, protocol incentives, liquidity depth, trader sentiment and broader macro conditions such as US dollar strength all influence short-term deviations from the peg.
MIMUSD is relevant to traders and investors who require a dollar-denominated instrument in decentralized finance: it is used for trading pairs, liquidity provision, collateral in lending markets and as a component in yield strategies and treasury management.
While designed to maintain a stable peg, MIM can experience transient volatility and varying liquidity across exchanges and chains, so monitoring spreads and slippage is important for market participants.
Magic Internet Money is a blockchain-based cryptocurrency introduced in late 2021 by the team behind the Abracadabra.money protocol. MIM functions as an on-chain stablecoin that is minted when users deposit interest-bearing assets as collateral into the protocol. It is issued across multiple chains, does not have a fixed supply, and is subject to governance and protocol parameters managed by the Abracadabra ecosystem.
The MIMUSD exchange rate is determined by market supply and demand on spot markets and liquidity pools, and by on-chain minting/redemption activity. Arbitrage between venues, protocol incentives, liquidity depth, trader sentiment and broader macro conditions such as US dollar strength all influence short-term deviations from the peg.
MIMUSD is relevant to traders and investors who require a dollar-denominated instrument in decentralized finance: it is used for trading pairs, liquidity provision, collateral in lending markets and as a component in yield strategies and treasury management.
While designed to maintain a stable peg, MIM can experience transient volatility and varying liquidity across exchanges and chains, so monitoring spreads and slippage is important for market participants.
MIMUSD Chart
MIM Stablecoin Slips From Peg As Abracadabra Liquidity Stress Returns
Magic Internet Money has slipped from its dollar peg again, putting Abracadabra liquidity and Curve pool balance back under pressure.
Bitcoinist | 2 months ago
Abracadabra's MIM crisis deepens as dollar peg breaks again
Abracadabra hikes Cauldron rates and pauses incentives after MIM fell near $0.50, aiming to cut supply and restore its $1 peg after a depeg.
Crypto | 2 months ago
Abracadabra raises interest rates as MIM stablecoin depeg worsens
Abracadabra's rate hike to combat MIM's depeg highlights DeFi's vulnerability to liquidity crises, impacting investor confidence and market stability. Abracadabra raises interest rates as MIM stablecoin depeg worsens.
Cryptobriefing | 2 months ago
MIMUSD FAQ
What is the current Magic Internet Money price?
The current price is $0.000560, based on the latest trades across major cryptocurrency exchanges.
What does the price change mean?
The price has changed by +0 (+0.0179%), showing how much the asset has moved compared to the previous close.
What is the previous close for Magic Internet Money?
The previous close was $0.000560, which serves as a reference point to measure daily performance.
How is the daily change percentage calculated?
The change percentage (+0.0179%) is calculated based on the difference between the current price and the previous closing price.
What does the daily range show?
The range reflects the lowest ($0.000560) and highest ($0.000575) prices traded during the selected period, helping assess volatility.
Why is Magic Internet Money (MIM) moving today?
Price movements in Magic Internet Money are driven by market sentiment, trading volume, news, adoption, and overall crypto market conditions.
Is the current trend bullish or bearish?
If the current price ($0.000560) is above the previous close ($0.000560), it indicates upward momentum. If below, it suggests a downward trend.
Where can I see live charts for Magic Internet Money?
You can view real-time charts, price updates, and market data for Magic Internet Money (MIM) directly on this page.
