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Abracadabra Raises Cauldron Rates as MIM Falls to $0.49

2026-06-25 10:56:37

Abracadabra launched emergency measures after Magic Internet Money fell 50% below its $1 peg. The protocol said the measures are effective immediately and will gradually increase interest rates across all Cauldrons. CoinMarketCap data showed MIM slipped to 74 cents in mid-June, briefly recovered to 89 cents, and then plunged to 49 cents on Wednesday. MIM has about $104 million in circulating supply.

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