Spark (SPK) Token Slumps 54% After Airdrop; Why Binance, Coinbase Are Listing It?

The recently launched Spark (SPK) token, the native currency of the Spark Protocol, has plummeted 54% in value following its highly anticipated airdrop. The token, which debuted on Binance just a day ago on June 17, has sparked both excitement and concern among investors, with its anticipated listing on Coinbase.

At the time of writing, SPK is trading near $0.05767—down 54.11% from the launch price—while having a market capitalization of $98 million. The huge sell-off is attributed to the airdrop farmer selling who claimed their tokens and decided to instantly off-load them at the market price. #SPKCoin