TLDR:

Spark price surged 284% after breaking key resistance and triggering high-volume trades.
SPK staking rose post-airdrop, locking over 120M tokens and boosting on-chain demand.
Spark’s TVL jumped 40% MoM, led by SparkLend and Spark Savings growth.
Upcoming Ignition Phase 2 airdrop has driven new wallet activity and token accumulation.

Spark (SPK) is on a tear. The price surged 284% in just one week, peaking at $0.20 according to CoinPedia Markets. That makes it one of the top performers on Binance today. Its 24-hour trade volume jumped more than 73%, crossing the $2.5 billion mark. 

Traders and crypto investors are rushing in, but what’s driving this rally?

Strong Spark Technical Breakout Fuels Bullish Momentum

According to Coinpedia Markets, SPK’s price broke out sharply from a $0.10–$0.11 consolidation range. The move triggered a parabolic run. SPK now trades well above short-term moving averages, a bullish technical sign.

Trading volume remains elevated, suggesting buyers are staying active. The MACD and RSI confirm the momentum. While the RSI reads overbought at 82.86, analysts say bulls still have room, especially if they defend the $0.16–$0.18 zone.

$SPK hits a New ATH at $0.2 today! Exploded 284%, climbing from $0.034 to $0.20 in just 7 days. #Spark is #3 gainer on #Binance with the 24-hr trade volume surging 73.73% to $2.74B.

Technical Analysis

The chart shows a parabolic run with a strong breakout from a… pic.twitter.com/GeQQ0sKFu9

— Coinpedia Markets (@MarketCoinpedia) July 24, 2025

Behind the price surge is a major jump in Spark’s on-chain activity. The project’s total value locked (TVL) rose 40% month-over-month, reaching $10.48 billion. SparkLend and Spark Savings are leading this growth, now holding a combined $7.25 billion.

Since the June airdrop, more than 120 million SPK have been staked. This staking spike follows Spark’s 3x incentive boost for Spark Points. That move not only locked up supply but attracted demand from new and existing holders.

Rewards and Airdrops Keep Retail Users Engaged

In just one week, the Spark ecosystem distributed $4.3 million in SPK and $10 million in USDS. These payouts reward savers and liquidity providers directly. Many traders are also preparing for Phase 2 of Sparkdotfi’s Ignition airdrop.

Phase 1 brought high engagement, and users now expect bigger rewards. Accumulation is ramping up as wallets prepare for the next drop. That anticipation is pulling more attention to SPK.

Spark’s appeal goes beyond staking. The platform offers steady savings yields and attractive farming opportunities across its ecosystem. Liquidity programs tied to Spark’s native token are pulling in investors seeking passive income.

These features have improved liquidity depth while tightening available supply. As more users stake and farm SPK, the circulating supply shrinks, adding fuel to the current uptrend.

Per CoinGecko’s data at press time, SPK trades around $0.1276 with 13% growth in the past 24 hours. While price action cooled slightly from its peak, market activity suggests the bulls aren’t done yet.

 

Spark price on CoinGecko

The post Why Is Spark (SPK) Crypto Price Pumping Today? appeared first on Blockonomi.

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Filed under: Bitcoin - @ July 24, 2025 8:18 am