SPK Token Drops 10% Post-Airdrop as $100M Trading Volume Sparks Market Volatility

SPK is currently trading at $0.042999 on Binance, down 10.08% over the past 24 hours from an opening price of $0.047820. The recent price decline is primarily attributed to significant post-airdrop sell-offs, as large volumes of SPK tokens distributed through multiple airdrops—including 200 million tokens for BNB Simple Earn users and 300 million tokens to early protocol participants—were rapidly sold by recipients seeking immediate profit. This selling pressure intensified following the token’s June 17, 2025 listings on major exchanges, including Binance, which saw over $100 million in SPK/USDT trading volume in the first 24 hours. Despite strong initial interest and high trading activity, the oversupply from airdrops and quick profit-taking have driven the price down sharply since launch. SPK maintains notable attention due to its integration within the Sky ecosystem and support for DeFi, CeFi, and real-world asset deployment, but the market continues to adjust to the initial influx of tokens and subsequent volatility.