Magic Internet Money Reaches Self Reported Market Cap of $6.92 Million (MIM)

Magic Internet Money (MIM) traded 3.9% lower against the dollar during the 24 hour period ending at 8:00 AM E.T. on August 4th. One Magic Internet Money coin can now be bought for about $0.0666 or 0.00000104 BTC on major cryptocurrency exchanges. Magic Internet Money has a market cap of $6.92 million and approximately $3.42 thousand worth of Magic Internet Money was traded on exchanges in the last 24 hours. In the last week, Magic Internet Money has traded down 9.4% against the dollar.

Here is how similar cryptocurrencies have performed in the last 24 hours:

• Aidi Finance (BSC) (AIDI) traded down 2.2% against the dollar and now trades at $0.0000 or 0.00000000 BTC.
• Zoo Token (ZOOT) traded 2.2% lower against the dollar and now trades at $0.0652 or 0.00000239 BTC.
• CareCoin (CARES) traded 2.2% lower against the dollar and now trades at $0.0809 or 0.00000297 BTC.
• UZDT (UZDT) traded 0% higher against the dollar and now trades at $1.00 or 0.00001568 BTC.
• Hokkaidu Inu (HOKK) traded up 1.2% against the dollar and now trades at $0.0004 or 0.00000001 BTC.
• Jeff in Space (JEFF) traded down 2.2% against the dollar and now trades at $2.75 or 0.00010076 BTC.
• Lumi Credits (LUMI) traded up 8.9% against the dollar and now trades at $0.0162 or 0.00000027 BTC.
• SolvBTC (SOLVBTC) traded up 1.9% against the dollar and now trades at $63,723.45 or 0.99785469 BTC.

About Magic Internet Money

Magic Internet Money launched on June 2nd, 2021. Magic Internet Money’s total supply is 698,964,077 coins and its circulating supply is 103,827,108 coins. Magic Internet Money’s official Twitter account is @mim_spell and its Facebook page is accessible here. Magic Internet Money’s official message board is abracadabramoney.medium.com. The official website for Magic Internet Money is abracadabra.money.

According to CryptoCompare, “Magic Internet Money (MIM) is a stablecoin soft-pegged to the US dollar, created by Daniele Sestagalli in 2021. It is minted by the Abracadabra.money protocol and backed by interest-bearing tokens. MIM can be borrowed against collateral on the Abracadabra platform and allows fast and secure cross-chain transfers through Beaming. Its value is maintained through arbitrage, keeping it close to 1 USD. MIM serves as a stable digital currency for various financial activities on the blockchain.”

Buying and Selling Magic Internet Money

It is usually not currently possible to purchase alternative cryptocurrencies such as Magic Internet Money directly using US dollars. Investors seeking to trade Magic Internet Money should first purchase Ethereum or Bitcoin using an exchange that deals in US dollars such as Gemini, Coinbase or Changelly. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Magic Internet Money using one of the aforementioned exchanges.

MIM/USD price chart by TradingView