Magic Internet Money
|All Time High:|
|Market Cap: |
|The price of #MIM today is $1.01 USD.|
The lowest MIM price for this period was $0, the highest was $1.007, and the current live price for one MIM coin is $1.00722.
The all-time high MIM coin price was $1.21.
Use our custom price calculator to see the hypothetical price of MIM with market cap of ETH or other crypto coins.
|Stable coin based on USD.|
The code for Magic Internet Money is #MIM.
Magic Internet Money is 1.4 years old.
|The current market capitalization for Magic Internet Money is $101,324,102.|
Magic Internet Money is ranked #223 out of all coins, by market cap (and other factors).
|The trading volume is medium during the past 24 hours for #MIM.|
Today's 24-hour trading volume across all exchanges for Magic Internet Money is $348,281.
|The circulating supply of MIM is 100,597,887 coins, which is 14% of the total coin supply.|
|Note that there are multiple coins that share the code #MIM, and you can view them on our MIM disambiguation page.|
More Magic Internet Money (#MIM) News
|Defi Protocol Abracadabra's Stablecoin MIM Briefly Slides to $0.91...
Amid the crypto market carnage this weekend, another stablecoin slipped below the $1 peg on Saturday, June 18, as the crypto asset called magic internet money (MIM) briefly dropped to a low of $0.914 per unit. The Abracadabra-issued stablecoin dropping in value follows the recent terrausd (UST) failure and USDD's recent volatility last week.Stablecoin Magic Internet Money Loses $1 Parity But Regains Strength After the Fall to $0.91
In mid-May 2022, the entire world witnessed an algorithmic stablecoin called terrausd (UST) depeg from its $1 parity and slide below a U.S. penny in value. In fact, UST's failure obliterated the entire Terra blockchain ecosystem of tokens until they were near worthless.
Last week, Bitcoin.com News reported on Tron's algorithmic stablecoin USDD and how it dropped to a low of $0.95 per unit. The Tron Reserve DAO has been adding significant amounts of reserves like USDC and TRX to keep the token overcollaterized.
Despite the funds being added, on June 18, USDD slipped to a low of $0.948 per unit and the crypto token is currently exchanging hands for $0.964 at the time of writing at 6:05 p.m. (ET).
On the same day, the Abracadabra-issued stablecoin magic internet money (MIM) also slipped below the asset's $1 parity, dropping to a low of $0.914 per unit. By using the protocol Abracadabra.money, users create MIM by adding collateral and today, there's 197,674,194 MIM in circulation.
MIM is leveraged on various blockchains like Ethereum, Fantom, BSC, and...
|Maker Co-Founder Calls UST and MIM ‘Solid Ponzis’ That Will Go to Ze...
Rune Christensen, one of the founders of Maker, the decentralized autonomous organization behind the governance of stablecoin DAI, has spoken out against two competitors. He stated that UST, Terra's dollar-pegged stablecoin, and MIM, another collateralized stablecoin, were 'solid ponzis' and that the bear market would eventually lead their prices to zero.
Maker Co-Founder Calls Out Competitors
Rune Christensen, one of the co-founders of the organization behind the creation and development of DAI, a decentralized stablecoin, has called out two competitors. Christensen indicated that he got tired of being nagged by UST and MIM 'reply guys' on Twitter, and indicated his opinion about these two relatively new stablecoins, comparing them with DAI. Christensen stated:
Look, UST and MIM are solid ponzis and I respect that. You can make good money off them for sure. But they are not built for resilience and they are going to 0 once the market turns for real.
Christensen elaborated by indicating that DAI was built for resilience while noting that the project is the most trustable when it comes to smart contracts and collateral security. However, UST flipped DAI as the most valuable stablecoin project back in December. Still, DAI is ranked second amongst decentralized stablecoin projects by market capitalization.
While MIM, UST, and DAI are all decentralized stablecoins in name, each one of them is engineered differ...