Featured News Headlines
SPK Price- Spark Protocol [SPK] Rockets 280%: What’s Driving the Surge?
SPK Price– Spark Protocol’s native token, SPK, skyrocketed an impressive 280% in just 30 days, fueled by a staking frenzy and a notable shout-out from Coinbase CEO Brian Armstrong. But what’s really behind this explosive rally—and can it keep going?
Staking Craze Ignites Massive Growth
SPK’s surge kicked off in mid-July after Spark Finance, powered by Sky (formerly Maker), launched Spark Farm—a new platform where stablecoin holders like USDS, DAI, and USDC can stake their tokens to earn SPK rewards. This move attracted huge attention.
Shortly after, Spark rolled out Overdrive, a feature doubling SPK rewards for users who lock their tokens longer, sending the protocol’s Total Value Locked (TVL) soaring from $6.3B to $8.18B.
Market Ripples and Price Volatility
The rally peaked late July, with SPK jumping nearly 400% from $0.036 to $0.19, before cooling off and settling at a still-impressive 280% gain. The broader crypto market’s ups and downs, including Bitcoin’s drop from $120K, heavily influenced SPK’s price swings.
What’s Next for SPK?
SPK recently flashed a buy signal on the Supertrend indicator and bounced 31% on August 4th, boosted by a Coinbase CEO endorsement and slight BTC recovery.
If momentum holds, SPK could revisit its $0.19 high—a potential 47% gain. But to maintain this bullish trend, $0.12 must act as solid support. A failure here might push SPK down toward $0.11 or even $0.09.
Watch the On-Balance Volume (OBV) indicator closely: a breakout above resistance would confirm strong buying interest and a sustained rally.
