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Updated 06:29 AM UTC

MIM Magic Internet Money

$0.0005

$0.000049

(9.03%)

Today

Mkt Cap$10.97M

Vol36,046.00

About Magic Internet Money

Magic Internet Money (MIM) is the first mainstream Bitcoin meme, originally created in 2013 and deployed a decade later on the Bitcoin blockchain by its original artist, Mavensbot. It all began in the r/bitcoin subreddit, where Mavensbot posted his now-iconic MS Paint artwork of the “Magic Internet Money Wizard”. His drawing was later turned into a reddit ad to promote Bitcoin. It then became the most successful Reddit ad of all time and played a key role in Bitcoin’s early rise from $27 to $1,132, while helping grow the r/bitcoin subreddit community from 10,000 to over 100,000 subscribers by the end of 2014.

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Abracadabra Implements Emergency Measures to Revive Its Stablecoin

Abracadabra, a decentralized finance protocol, has initiated urgent strategies to counteract the depegging of its stablecoin, Magic Internet Money (MIM), which dropped significantly from its intended $1 valuation. The company’s immediate priority is to curtail the circulating sup...

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Abracadabra announced emergency measures after MIM stablecoin fell to $0.50 from its $1 peg

🚨 $MIM lost its dollar peg and is trading around $0.50, prompting Abracadabra to launch emergency actions. 💸 Abracadabra raised borrowing costs and suspended liquidity rewards to cut the supply in $MIM and stabilize the market. 🛡️ The protocol previously suffered a $13 million...

COINTURK NEWS

apxUSD Drops Below $0.80 As STRC Pressure Hits Apyx Stablecoin

Apyx’s apxUSD fell below $0.80, deepening a fresh depeg for the dividend-backed stablecoin as pressure returned across Strategy-linked credit products. apxUSD recently traded near $0.7702, down 9.1% over 24 hours and 12.8% over seven days. The token’s 24-hour range widened sharpl...

Crypto Adventure

Abracadabra Rolls Out Emergency Measures as MIM Stablecoin Falls Far Below $1 Peg

Abracadabra has launched a series of emergency measures after its Magic Internet Money (MIM) stablecoin lost its dollar peg and plunged well below its intended $1 value. The decentralized finance protocol said it is taking immediate action to reduce MIM supply and stabilize the m...

DeFi Planet

Market Meltdown: MemeCore Crashes 76% as MIM Breaks Peg to $0.50

Critics had questioned how MemeCore maintained a multi-billion dollar valuation despite insiders allegedly controlling 90% of supply.

CryptoPotato

MIM Depegs To $0.50 As Abracadabra Raises Cauldron Rates

Magic Internet Money fell sharply below its intended $1 peg, with MIM on Ethereum trading near $0.50 after a volatile 24-hour window that pushed the stablecoin as low as about $0.43. The move left MIM roughly 50% below peg at the latest tracked price, with the market still showin...

Crypto Adventure

Abracadabra Issues Emergency Measures as MIM Stablecoin Depeg Escalates

Abracadabra has moved to stabilize its dollar-pegged stablecoin Magic Internet Money (MIM) after the token fell more than 50% below its $1 peg. The DeFi protocol said it is rolling out emergency measures that increase borrowing costs across its lending system in order to encourag...

CryptoBreaking

Abracadabra takes emergency action as MIM stablecoin depeg worsens

The protocol is raising interest rates across all Cauldrons to encourage debt repayment and reduce supply.

Cointelegraph.com News (Full)

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