SPK is a decentralized lending platform built under the MKR system, benefiting from the traffic and funding advantages of MakerDAO. Currently, its market capitalization is only 116 million USD, but its locked value has reached as high as 8.133 billion, and the project has remained in a state of positive profitability since its launch, with a very solid overall fundamental.
If positive expectations such as yield buybacks and deflationary mechanisms are added in the future, it is not ruled out that it could become an important catalyst for driving price increases. From a valuation perspective, SPK is significantly undervalued compared to its big brother MKR (current market capitalization 1.8 billion, locked 5.6 billion), and there is even nearly 18 times potential space when comparing locked funds.
At the current stage, the release of short positions is basically complete, and the price has been consolidating in the bottom range for a while, showing a technical structure that is ready for a major upward wave. It is recommended to pay attention to pullback opportunities and adopt a strategy of gradually building positions, which is expected to follow a valuation repair path similar to the early stages of AAVE.
At the same time, the entire market is in a rotation phase of a bull market, and the altcoin sector is gradually catching up, with funds noticeably warming up. Some new tokens like SAHARA, NEWT, etc., also have a daily-level structure that is stabilizing, showing potential for breakthroughs after a consolidation phase, and are worth paying attention to and selectively buying on dips.
Overall, we are currently in a window period to layout for the next round of explosive market trends, seizing undervalued quality assets is the core strategy to navigate through bull and bear markets.
