This time it’s the giant whale that once made 32 million USD by buying low and selling high in Ethereum, who just received 17.58 million tokens from airdrop $SPK , worth 1.22 million USD, and immediately transferred them all to Binance.
This SPK is the token of the decentralized lending platform Spark Protocol. Although it has just announced its launch on Binance Alpha and HODLer, there is a pitfall to note: the tokens airdropped on Alpha are on the BSC chain, while the airdrop for Spark users is on the Ethereum chain, and the two are not interoperable.
In the short term, the pressure is immense; the whale took such a large amount of airdrop and rushed to the exchange, clearly intending to cash out. The selling pressure will definitely dominate the initial price fluctuations.
This airdrop route clearly shows a split between BSC and Ethereum. The BSC side focuses on trading and liquidity, and the short-term turnover and selling pressure may be more intense; while the Ethereum side values protocol depth and governance, with a higher holding period and community participation. Cross-chain distribution has indeed helped the project earn a lot, but the short-term and long-term impacts differ significantly.
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