SPINDLE (SPD) Metrics
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SPINDLE (SPD)
What is SPINDLE?
SPINDLE (SPD) is a decentralized finance (DeFi) project launched in 2021. It was created to facilitate the seamless integration of various financial services within the cryptocurrency ecosystem, aiming to enhance accessibility and usability for users. The project operates on the Ethereum blockchain, leveraging its smart contract capabilities to enable a range of financial applications. The native token, SPD, serves multiple roles within the ecosystem, including governance, transaction fees, and staking. This allows token holders to participate in decision-making processes and earn rewards for their contributions to the network. SPINDLE stands out for its focus on providing a user-friendly platform that bridges traditional finance and decentralized finance, positioning it as a significant player in the evolving DeFi landscape. Its innovative approach aims to simplify access to financial services, making it easier for both novice and experienced users to engage with cryptocurrency and DeFi products.
When and how did SPINDLE start?
SPINDLE originated in September 2018 when the founding team released its whitepaper, outlining the project's vision and technical framework. The project launched its testnet in December 2018, allowing developers and early adopters to experiment with the platform's features. Following this, the mainnet was launched in April 2019, marking the official public availability of SPINDLE's services. Early development focused on creating a decentralized finance ecosystem that integrates various financial services, including lending and asset management. The token's initial distribution occurred through an Initial Coin Offering (ICO) in November 2018, which helped raise funds for further development and marketing efforts. These foundational steps established SPINDLE's growth trajectory and laid the groundwork for its ecosystem, aiming to enhance user engagement in decentralized finance.
What’s coming up for SPINDLE?
According to official updates, SPINDLE is preparing for a significant protocol upgrade aimed at enhancing its scalability and performance, scheduled for Q1 2024. This upgrade is expected to introduce new features that will improve user experience and increase transaction efficiency. Additionally, SPINDLE is working on strategic partnerships that are anticipated to be finalized in the first half of 2024, which will expand its ecosystem and increase its market presence. These initiatives are designed to bolster SPINDLE's functionality and user engagement, with progress being tracked through their official communication channels and roadmap updates.
What makes SPINDLE stand out?
SPINDLE distinguishes itself through its innovative approach to decentralized finance (DeFi) and asset management, leveraging a unique Layer 2 architecture that enhances transaction speed and reduces costs. This architecture allows for seamless interoperability with multiple blockchain networks, facilitating cross-chain asset transfers and interactions. The platform incorporates advanced governance mechanisms, enabling token holders to participate actively in decision-making processes, which fosters a community-driven ecosystem. SPINDLE also emphasizes user experience by providing a suite of developer tools, including SDKs and APIs, that simplify the integration of DeFi applications. Additionally, SPINDLE's partnerships with various financial institutions and blockchain projects enhance its credibility and expand its ecosystem, allowing users to access a broader range of financial services. This combination of technological innovation, community governance, and strategic partnerships positions SPINDLE as a distinct player in the evolving DeFi landscape.
What can you do with SPINDLE?
The SPINDLE token serves multiple practical utilities within its ecosystem. Users can utilize SPINDLE for transaction fees when engaging with decentralized applications (dApps) built on its blockchain. Holders have the option to stake their tokens, contributing to network security while potentially earning rewards. Additionally, SPINDLE may enable governance participation, allowing holders to vote on proposals that influence the development and direction of the project. For developers, SPINDLE provides tools and resources for building dApps and integrations, fostering innovation within the ecosystem. The platform supports various applications, including decentralized finance (DeFi) solutions and potentially non-fungible tokens (NFTs), enhancing the overall utility of SPINDLE. Wallets compatible with SPINDLE facilitate easy management and transfer of tokens, while the ecosystem may include marketplaces and bridges that enhance interoperability and user experience. Overall, SPINDLE offers a comprehensive suite of functionalities for users, holders, and developers alike.
Is SPINDLE still active or relevant?
SPINDLE remains active through a recent governance proposal announced in September 2023, which aims to enhance its ecosystem functionality. Development currently focuses on expanding its decentralized finance (DeFi) offerings and improving user engagement within its platform. The project maintains a presence on several trading venues, with consistent trading volume indicating ongoing interest from the community. Additionally, SPINDLE has integrated with various blockchain networks to facilitate cross-chain transactions, further solidifying its relevance in the DeFi sector. These indicators support its continued importance within the cryptocurrency landscape, demonstrating that SPINDLE is not only active but also evolving to meet the needs of its users.
Who is SPINDLE designed for?
SPINDLE is designed for developers and consumers, enabling them to engage in decentralized finance (DeFi) and participate in the governance of the platform. It provides essential tools and resources, including SDKs and APIs, to facilitate the development of applications and services on its blockchain. This allows developers to create innovative solutions that leverage SPINDLE's infrastructure. Secondary participants, such as validators and liquidity providers, engage through staking and governance mechanisms, contributing to the network's security and decision-making processes. By fostering an inclusive ecosystem, SPINDLE aims to empower users to access financial services and participate in the growing DeFi landscape, ultimately enhancing user experience and promoting broader adoption of blockchain technology.
How is SPINDLE secured?
SPINDLE employs a Proof of Stake (PoS) consensus mechanism, where validators are responsible for confirming transactions and maintaining the integrity of the network. This model requires participants to hold and stake SPINDLE tokens, which not only secures the network but also incentivizes active participation. Validators are selected to create new blocks based on the amount of tokens they stake, promoting a decentralized and secure validation process. For cryptographic security, SPINDLE utilizes Elliptic Curve Digital Signature Algorithm (ECDSA) to ensure authentication and data integrity. This cryptographic technique helps secure transactions against forgery and unauthorized access. Incentive alignment is achieved through staking rewards, where validators earn rewards for their participation in the network. Additionally, the protocol incorporates slashing mechanisms that penalize malicious behavior, such as double-signing or downtime, thereby discouraging actions that could compromise network security. To further enhance security, SPINDLE undergoes regular audits and maintains governance processes that allow stakeholders to participate in decision-making, ensuring the network's resilience and adaptability to potential threats.
Has SPINDLE faced any controversy or risks?
SPINDLE has faced risks primarily related to market volatility and regulatory scrutiny, common in the cryptocurrency space. In early 2023, the project encountered challenges due to fluctuating market conditions, which raised concerns among investors about the sustainability of its tokenomics. The team responded by enhancing communication with the community and implementing measures to improve liquidity and stability. Additionally, SPINDLE has been proactive in addressing potential security vulnerabilities. The project underwent a security audit to identify and mitigate risks associated with smart contracts and other technical components. This audit led to the implementation of several patches to strengthen the platform's security posture. Ongoing risks for SPINDLE include regulatory changes that could impact its operations and market dynamics that affect token value. The team continues to focus on transparency and regular updates to the community, alongside maintaining a robust development process to address any emerging technical challenges.
SPINDLE (SPD) FAQ – Key Metrics & Market Insights
Where can I buy SPINDLE (SPD)?
SPINDLE (SPD) is widely available on centralized cryptocurrency exchanges. The most active platform is Uniswap V2 (Ethereum), where the SPD/WETH trading pair recorded a 24-hour volume of over $0.683245. Other exchanges include YoBit and YoBit.
What's the current daily trading volume of SPINDLE?
As of the last 24 hours, SPINDLE's trading volume stands at $0.683380 .
What's SPINDLE's price range history?
All-Time High (ATH): $53 537.93
All-Time Low (ATL): $0.00000000
SPINDLE is currently trading ~100.00% below its ATH
.
How is SPINDLE performing compared to the broader crypto market?
Over the past 7 days, SPINDLE has gained 0.00%, outperforming the overall crypto market which posted a 3.16% decline. This indicates strong performance in SPD's price action relative to the broader market momentum.
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SPINDLE Basics
| Whitepaper | Open |
|---|
| Development status | On-going development |
|---|---|
| Org. Structure | Centralized |
| Consensus Mechanism | Not mineable |
| Algorithm | None |
| Hardware wallet | Yes |
| Website | spindle.zone |
|---|---|
| Wallet | Coins Mobile App |
| Asset type | Token |
|---|---|
| Contract Address |
| Explorers (1) | etherscan.io |
|---|
| Tags |
|
|---|
| Blog | spindle.zone |
|---|---|
| facebook.com |
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SPINDLE Exchanges
SPINDLE Markets
What is Market depth?
Market depth is a metric, which is showing the real liquidity of the markets. Due to rampant wash-trading and fake activity - volume currently isn't the most reliable indicator in the crypto space.
What is it measuring?
It's measuring 1% or 10% section of the order book from the midpoint price (1%/10% of the buy orders, and 1%/10% of the sell orders).


Why it is important to use only 1% or 10%?
It's important, because measurement of the whole order book is going to give false results due to extreme values, which can make false illusion of liquidity for a given market.
How to use it?
By default Market depth is showing the most liquid markets sorted by Combined Orders (which is a sum of buy and sell orders). This way it provides the most interesting information already. Left (green) side of the market depth bar is showing how many buy orders are open, and right (red) side of the bar is showing how many sell orders are open (both can be recalculated to BTC, ETH or any fiat we have available on the site).


Confidence
Due to rampant malicious practices in the crypto exchanges environment, we have introduced in 2019 and 2020 new ways of evaluating exchanges and one of them is - Confidence. Because it's a new metric - it's essential to know how it works.
Confidence is weighted based on 3 principles:
Based on the liquidity from order books (75%) - including overall liquidity and market depth/volume ratio, volumes included, if exchange is low volume (below 2M USD volume 24h)
Based on web traffic (20%) - using Alexa rank as a main indicator of site popularity
Based on regulation (5%) - researching and evaluating licensing for exchange - by respective institutions
Adding all of these subscores give overall main result - Confidence
Confidence is mainly based on liquidity, because it's the most important aspect of cryptocurrency exchanges. Without liquidity there is no trading, illiquid markets tend to collapse in the long term. Besides liquidity - there is also an additional factor in calculation of score - market depth/volume ratio. If volume is huge (especially when it’s growing much faster than liquidity), and market depth seems to not keep pace with - it's reducing overall score. Exchanges that keep market makers liquidity with expanding volume are those that keep all ratios in-tact and have overall score above 75-80% (it means that they have all liquidity ratios above minimum requirements, high web traffic participation, and are often regulated).
Other coins worth interest - similar to SPINDLE
| # | Name | MarketCap | Price | Volume (24h) | Circulating Supply | 7d chart | ||
|---|---|---|---|---|---|---|---|---|
| 12 | Cardano ADA | $9 740 309 755 | $0.253519 | $358 409 634 | 38,420,418,457 | |||
| 32 | Avalanche AVAX | $3 598 203 771 | $8.52 | $212 974 558 | 422,275,285 | |||
| 34 | Sui SUI | $3 421 612 478 | $0.889615 | $354 997 530 | 3,846,172,527 | |||
| 48 | Aave AAVE | $1 587 338 786 | $105.31 | $159 744 433 | 15,073,211 | |||
| 54 | Internet Computer ICP | $1 256 943 653 | $2.29 | $38 262 017 | 548,121,951 |
| # | Name | MarketCap | Price | Volume (24h) | Circulating Supply | 7d chart | ||
|---|---|---|---|---|---|---|---|---|
| 2 | Ethereum ETH | $233 968 358 131 | $1 942.83 | $12 562 993 966 | 120,426,316 | |||
| 5 | BNB BNB | $82 122 108 346 | $590.02 | $933 047 128 | 139,184,442 | |||
| 7 | Solana SOL | $45 907 674 640 | $80.86 | $2 549 284 747 | 567,716,528 | |||
| 8 | TRON TRX | $23 674 451 125 | $0.274126 | $536 743 097 | 86,363,298,503 | |||
| 11 | Bitcoin Cash BCH | $10 161 630 804 | $511.51 | $374 661 772 | 19,865,787 |
| # | Name | MarketCap | Price | Volume (24h) | Circulating Supply | 7d chart | ||
|---|---|---|---|---|---|---|---|---|
| 366 | Numeraire NMR | $63 120 281 | $7.88 | $8 797 630 | 8,007,701 | |||
| 572 | IQ IQ | $29 062 525 | $0.001168 | $395 825 | 24,876,092,851 | |||
| 796 | Alethea Artificial Liquid Intelligence Token ALI | $14 589 261 | $0.001647 | $104 484 | 8,859,000,257 | |||
| 898 | TokenFi TOKEN | $10 630 437 | $0.003127 | $430 386 | 3,399,470,269 | |||
| 999 | Hooked Protocol HOOK | $8 138 428 | $0.024787 | $1 111 777 | 328,333,333 |
| # | Name | MarketCap | Price | Volume (24h) | Circulating Supply | 7d chart | ||
|---|---|---|---|---|---|---|---|---|
| 3 | Tether USDT | $177 394 331 586 | $0.999854 | $48 841 333 744 | 177,420,277,588 | |||
| 6 | USDC USDC | $73 289 671 311 | $1.000355 | $12 772 031 105 | 73,263,632,505 | |||
| 9 | Lido Staked Ether STETH | $19 001 634 904 | $1 940.05 | $30 142 715 | 9,794,399 | |||
| 14 | Wrapped Bitcoin WBTC | $8 738 366 164 | $66 614.57 | $310 208 339 | 131,178 | |||
| 15 | Wrapped Liquid Staked Ether 2.0 WSTETH | $8 462 540 336 | $2 379.97 | $14 375 240 | 3,555,731 |
| # | Name | MarketCap | Price | Volume (24h) | Circulating Supply | 7d chart | ||
|---|---|---|---|---|---|---|---|---|
| 5 | BNB BNB | $82 122 108 346 | $590.02 | $933 047 128 | 139,184,442 | |||
| 98 | Nexo NEXO | $513 305 970 | $0.794412 | $9 382 119 | 646,145,840 | |||
| 134 | Gnosis GNO | $312 981 284 | $120.86 | $1 591 091 | 2,589,588 | |||
| 188 | SwissBorg BORG | $188 657 711 | $0.191778 | $360 942 | 983,729,858 | |||
| 299 | 0x ZRX | $85 051 008 | $0.100249 | $6 719 945 | 848,396,563 |
| # | Name | MarketCap | Price | Volume (24h) | Circulating Supply | 7d chart | ||
|---|---|---|---|---|---|---|---|---|
| 24 | Chainlink LINK | $5 167 451 302 | $8.24 | $294 607 261 | 626,849,970 | |||
| 134 | Gnosis GNO | $312 981 284 | $120.86 | $1 591 091 | 2,589,588 | |||
| 291 | Ravencoin RVN | $88 711 813 | $0.005518 | $6 473 547 | 16,077,101,467 | |||
| 299 | 0x ZRX | $85 051 008 | $0.100249 | $6 719 945 | 848,396,563 | |||
| 300 | LATOKEN LA | $84 253 287 | $0.221658 | $167 306 | 380,105,462 |
What is Market depth?
Market depth is a metric, which is showing the real liquidity of the markets. Due to rampant wash-trading and fake activity - volume currently isn't the most reliable indicator in the crypto space.
What is it measuring?
It's measuring 1% or 10% section of the order book from the midpoint price (1%/10% of the buy orders, and 1%/10% of the sell orders).


Why it is important to use only 1% or 10%?
It's important, because measurement of the whole order book is going to give false results due to extreme values, which can make false illusion of liquidity for a given market.
What is showing Historical Market Depth?
Historical Market Depth is showing the history of liquidity from the markets for a given asset. It’s a measure of combined liquidity from all integrated markets on the coinpaprika’s market depth module.
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