1. Launch of the second phase (Overdrive) of Airdrop “Ignition
According to a report by BeInCrypto yesterday (July 22, 2025), the second phase of the air (Overdrive) is eligible for SPK holders that are stable until July 29 to receive additional rewards until August 12
This led to a rush of investors to buy and stake the coins, which reduced the circulating supply and significantly increased the price.
2. Strong increase in TVL (total value locked in the protocol)
The total value locked in the Spark platform (TVL) has risen to approximately $8.15 billion, a record level
This performance enhances confidence and attracts more liquidity
3. Strong technical breakout indicating buying momentum
Technical analysts noted the price breaking out of a symmetrical triangle pattern, indicating strong buying pressure
Patterns such as “cup-and-handle” also formed on the 3-hour timeframe, indicating the continuation of an upward trend.
4. Interest from "whales" and speculators to buy
99Bitcoins reported that over 129 million SPK have been staked since June, with reward holders preferring to keep the coins rather than sell them
According to OKX, daily trading volume increased by about 400%, reflecting intense speculative activity
Summary:
1. Airdrop incentive is required and attractive – Overdrive season has begun and investors are racing.
2. Strong fundamentals – TVL at a record level, showing confidence in the protocol.
3. Positive technical pattern – broke through strong resistances.
4. Huge trading volume indicating large amounts of liquidity
#SPKDrop