Spark Crypto Rallying, SPK Up 220% in 3 Days: What’s Going On?
BY
Ben Graham
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SPK is up 330% in three days as Spark draws billions in TVL. SPK rallied after the Ignition Airdrop, fanned by the Overdrive Phase and exchange listings.
DeFi tokens are back in focus. While Hyperliquid and top Ethereum synthetics are trending, mirroring Ethereum’s stellar performance, attention is quickly shifting to Spark.
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SPK Crypto Rallying, Up 220% in 3 Days
SPK, the governance token of Spark, is one of the best cryptos to buy now, gaining an impressive 220% in three days.
This surge has pushed SPK3 (No data) to fresh all-time highs, extending gains from early July and breaking above June 2025 highs.
At spot rates, the path of least resistance is northward.
On the daily chart, SPK crypto soared to as high as $0.188 earlier today before retracing.
However, in the past 24 hours, SPK is up 80%, doubling from yesterday when prices peaked, outperforming top Solana meme coins.
For now, the local support is at the June 2025 highs, and as long as this level holds, buyers will remain in control. SPK crypto could soar to new levels in the coming days.
What is Spark Crypto?
Spark is a DeFi protocol designed to optimize stablecoin yields.
The platform aims to make DeFi more efficient through its array of products.
SparkLend offers a stablecoin lending market where SPK holders vote on lending rates.
The product is stabilized by the Spark Liquidity Layer (SLL), a solution that automates capital across multiple Ethereum layer-2s, including Optimism and Base.
Simply put, SLL optimizes yield generation while ensuring SparkLend receives consistent liquidity.
Besides lending, users can save through Spark Savings. They can deposit stablecoins, such as USDC and USDS, to earn competitive yields. Spark Savings can also integrate with other DeFi protocols.
Spark operates as a “Sky Star,” a subDAO within the Sky Protocol, formerly MakerDAO.
To benefit its holders, Spark leverages the Sky Protocol’s stablecoin reserve.
As a result, the protocol can deploy capital efficiently across DeFi, CeFi, and real-world assets.
Behind this ecosystem is SPK, primarily used for governance. Active holders, such as those participating in staking, can earn Spark Points for additional SPK rewards.
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Why is SPK Crypto Rallying?
The catalyst behind the recent surge was the completion of the Ignition Airdrop on June 17.
Through this airdrop, 200–300 million SPK tokens were distributed to early adopters, sparking FOMO.
While prices briefly dipped, the recovery was strong due to the ongoing Overdrive Phase, which requires SPK holders to stake between July 29 and August 12.
Stakers receive additional SPK tokens based on their accumulated Spark Points.
Presently, over 3,000 stakers have locked up nearly 130 million SPK.
(Source: Spark)
Spark also rewards users who deposit sUSDC on Spark Savings on the OP Mainnet and Unichain.
In a post on X, Spark announced that they are emitting roughly 76,000 OP tokens weekly, boosting savers’ yields.
Additionally, SPK crypto received a liquidity boost after being listed on major exchanges, including Coinbase and Binance. The rallying SPK prices attracted millions of traders across these platforms, eager to ride the upward wave, further fueling FOMO.
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SPK Crypto Up 220% in 3 Days: Why is Spark Rallying
The post Spark Crypto Rallying, SPK Up 220% in 3 Days: What’s Going On? appeared first on 99Bitcoins.