SPK Could Crash Despite Whale Buying
Spark crypto price has gone parabolic this month as the total value locked (TVL) in the ecosystem has jumped. The SPK token soared to a high of $0.1017, up sharply from the year-to-date low, giving it a market cap of over $97 million. This surge happened as its volume crossed the $1 billion milestone.
The Spark price soared as on-chain data shows that whales have continued to accumulate the token. These whales jumped by over 57% since June 23 to 10.28 million. They held over 6.28 million tokens on June 28.
At the same time, smart money investors have continued to add to their assets this month. They hold over 56,300 SPK tokens, up from 16,000 last month, a sign that they expect the token to keep…
