If the SPK (Spark) plummeted at launch, don’t be surprised! This is common in the crypto world. Think of it this way:
◽️ Profit realization: Many people received SPK for free (airdrop) or bought it cheaply. As soon as the coin hit the major exchanges, people sold to secure their profit. This mass selling drives the price down.
◽️ The "hype" is over: Every new crypto generates initial buzz that inflates the price. When the excitement wanes, the price adjusts to a more "real" level.
◽️ Many tokens available: With so many tokens distributed for free in the airdrop, the supply in the market increases. And a lot of supply, without the same demand, causes the price to drop.
◽️ Crypto market downturn: If Bitcoin and other major cryptos are not doing well, SPK feels the impact too. It doesn't live in a bubble!
◽️ Promise vs. Reality (for now): SPK has a cool project, but real utility takes time to develop. In the beginning, speculation dominates.
At the end of the day, launching a crypto is always a rollercoaster. The market is volatile and prices can change in the blink of an eye.
Keep an eye on SPK news and the project's development!
#SparkBinanceHODLerAirdrop #FOMCMeeting $BTC $ETH
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content.See T&Cs.
