Is the surge of $SPK so fierce really impressive?

To put it simply, it's just a "DeFi financial supermarket" that specifically helps people transfer their money into various high-yield protocols to earn interest.

Although it claims to manage $3.95 billion in liquidity, a closer look at the data reveals a big problem — the total token supply is 10 billion, with only 6.5% in circulation, while 93.5% is held by the project team; isn't this clearly a way to fleece investors?

The price plummeted to $0.058 right after it was launched, and while $38 million in market cap doesn’t seem high, once fully circulated, the valuation could soar to $580 million, which it simply cannot support with its current transaction volume.

The three functions it boasts — SparkLend, Spark Savings, and SLL — sound impressive, right? In reality, they are just leftover tricks from other protocols, with no real technical innovation.

Those "managed funds" could very well just be a sleight of hand, reminiscent of how Terra claimed to manage hundreds of billions before its collapse. The current price may seem cheap, but once the locked tokens are released, they could drop by 90% in an instant. If you really want to engage in DeFi lending, aren’t established projects like Aave and Compound more appealing?

When you see a new coin in the crypto circle with a circulation rate below 10%, just steer clear; such projects are destined to fleece investors! Still trying to go solo in the crypto world? Join @Crypto余辉 to unlock top-tier primary market resources! Accurate strategies will ensure you don’t miss out on opportunities!

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