SPK Token Drops 13.73% After 300M Airdrop, Liquidity and Sell-Offs Drive Volatility

SPKUSDT has experienced a sharp 13.73% price decline in the last 24 hours, dropping from 0.049525 to 0.042725 on Binance. This decrease is primarily attributed to post-airdrop selling pressure, as recipients from the recent 300 million SPK token airdrop—including a significant distribution via Binance—have begun realizing profits, leading to increased volatility and downward momentum. Despite robust fundamentals such as a total value locked (TVL) of $7.9 billion and strong DeFi utility, limited exchange liquidity has amplified price swings. Current market data shows SPK trading at 0.042725 with a 24-hour volume of $36.67 million, a market cap near $700 million, and a circulating supply of 1.5–2 billion tokens. The asset remains in a volatile price discovery phase, with airdrop-related sell-offs and liquidity constraints dominating the current trading narrative.