Spark Token News: SPK skyrocketed 600% in seven days, breaking through $0.19 to set a new all-time high.

The focus of the Crypto Assets market recently has been none other than Spark (SPK). Since July 18, the price of SPK has skyrocketed from $0.04 to a peak of $0.19, with an increase of nearly 600% in just a few days, attracting widespread attention from the market.

According to Gate market data, as of July 28, SPK has slightly retreated from its high point to around 0.095 USD, but still maintains an astonishing rise of 275% for the week, with a 24-hour trading volume once exceeding 1.46 billion USD, becoming the undisputed leading token in the DeFi sector.

Price Performance and Market Data Overview

• Current price and volatility: 0.0956 USDT, a 52.5% pullback from the historical high of 0.201 USDT (July 23), but the rise in the past week still reaches 238.7%.
• Trading Activity: The 24-hour trading volume reached 2.25 billion USD, with derivatives open interest hitting a historical peak of 176.8 million USD. The market's long-to-short ratio remains above 1, indicating strong bullish sentiment.
• On-chain holding trends: Over the past 30 days, whale addresses have accumulated an increase of 3.9 million SPK, with Smart Money holdings soaring by 250%; during the same period, exchange SPK balances have sharply decreased by 37%, indicating that chips are flowing from trading platforms to long-term holders.

The table below summarizes the key price performance of SPK recently:

| Indicator | July 18 | July 23 Peak | July 28 | Change Rate | |----------------|---------|--------------|---------------|------------------------| | Price (USDT) | 0.04 | 0.201 | 0.1356 | ↑238.7% (7 days) | | 24-hour trading volume | Not provided | $1.46 billion | $2.25 billion | ↑54% (peak to date) | | Exchange Balance | Not Provided | Not Provided | $357 million | ↓37% (30 days) | | Whale Holdings | Not Provided | Not Provided | 10.4 million coins | ↑60% (30 days) |

Three Core Driving Forces of Rise

1. Whales and institutional funds are making strong moves: On-chain data clearly shows that institutional-level investors are aggressively accumulating SPK. In the past month, addresses holding over one million dollars in SPK have exceeded 10.4 million coins, while professional trading institutions (smart money wallets) have seen their holdings surge by 250% to over 56,000 coins. Such capital movements are often viewed as signals for value discovery, attracting retail and follower funds, resulting in positive feedback for the rise.
2. Supply tightening and lock-up mechanism come into effect: Spark launched the second phase of the Ignition airdrop in July, requiring participants to complete token lock-up by July 29 and hold until August 12 to receive rewards. This mechanism directly led to a sharp decrease in market circulation. Coupled with a 37% drop in exchange balances, it created a significant deflationary effect, and buying pressure quickly pushed up coin prices.
3. Technical upgrades and TVL growth endorsement value: On July 21, Spark completed a key mainnet upgrade, integrating an automated matching model and an on-chain governance system, significantly improving network efficiency. Meanwhile, the total value locked (TVL) in the protocol surpassed $10.48 billion, jumping to the fifth position in DeFi protocol rankings, with a monthly increase of 40%. The implementation of technology and the accumulation of funds provide solid value support for SPK.

##The Protocol Value and Technical Highlights of Spark

Spark is positioned as "on-chain capital allocation infrastructure" and is dedicated to addressing three major pain points in the DeFi sector: liquidity fragmentation, unstable yields, and idle stablecoins. Its core architecture consists of a three-layer product system:

• SparkLend: Provides stablecoin lending services, utilizing a governance-set interest rate mechanism that does not fluctuate with utilization rates, ensuring predictable costs for borrowers.
• Spark Savings: Supports users in depositing stablecoins such as USDC and USDS, automatically converting them into interest-earning tokens sUSDC/sUSDS, achieving zero-fee yield accumulation.
• Spark Liquidity Layer (SLL): The core engine of the protocol. By allocating Sky's $6.5 billion reserve funds, it provides liquidity to protocols such as Aave, Morpho, and RWA (e.g., BlackRock's BUIDL). For example, its Spark USDC Morpho vault on the Base chain currently supplies $95 million USDC and has become the largest liquidity source for the Coinbase App on the Base chain.

##Future Prospects and Risk Warnings

The technical analysis shows a bullish structural breakout: on the daily chart, SPK has successfully broken through the upper resistance of the "descending triangle" and has stabilized above the 20-day exponential moving average (0.05 USD). If the bulls continue to exert strength, the next target can be seen at 0.125 USD, and after breaking through, it is expected to challenge 0.184 USD.

Long-term predictions show significant divergence:

• End of 2025 forecast range: $0.089 – $0.30 (CoinCodex and DigitalCoinPrice)
• Expected peak in 2030: $0.74 (DigitalCoinPrice), if large-scale integration of the ecosystem is achieved, $1~$3 is a theoretical possibility.

Be aware of the three risk points:

1. The release of airdropped tokens after August 12 may trigger periodic selling pressure;
2. Current high volatility implies short-term deep pullback risks, support level to follow 0.056 USD;
3. The growth of protocol TVL and continuous realization of technological innovations are needed to support valuation expectations.

##Conclusion Spark (SPK) has demonstrated explosive growth potential in a bull market due to its liquidity engine architecture that bridges CeFi funds with DeFi protocols. Despite the short-term technical corrections and airdrop release pressures, the core narrative of optimizing on-chain capital efficiency, combined with the scarcity brought by whale position locking, may still provide support for its value in the medium to long term. Investors need to continuously follow the protocol's TVL data, unlocking dynamics, and macro liquidity changes to seize opportunities amidst volatility.