SPK Token Sees $100M+ Trading Volume Amid 14% Price Drop After Major Airdrop and Exchange Debut

Spark (SPK) experienced significant price volatility following its launch on June 17, 2025, driven primarily by a large-scale airdrop and immediate listing on major exchanges. The sharp price decline of approximately 14% over the last 24 hours, as reflected by Binance data (current price $0.049791, 24h open $0.057867), is mainly attributed to post-airdrop sell-offs by initial recipients, a common pattern when tokens are distributed for free and holders seek to realize profits. Additional downward pressure was observed as SPK was made available for trading with high leverage and across multiple platforms, further increasing liquidity and profit-taking opportunities. Despite the price drop, trading activity remains robust, with 24-hour volumes exceeding $100 million on Binance alone and the token maintaining a market cap between $41 million and $98 million based on circulating supply estimates. SPK continues to trade in a highly active and volatile environment as the market absorbs new supply and undergoes price discovery.