Spark (SPK) Price Prediction: Buyers remain active with room for a pump, over 120 million Tokens staked locking supply.

The crazy rise of Spark (SPK) has slowed down, currently reporting 0.1352 USD in the European early session today (24), but looking at the weekly trend, SPK has still risen by 296%. After the Airdrop, the staking amount of SPK has increased, locking in over 120 million Tokens and stimulating on-chain demand.

Strong technical breakthroughs ignite bullish momentum

The price of SPK has significantly broken through the consolidation range from 0.10 to 0.11 USD. This trend has triggered a parabolic movement. The current trading price of SPK is well above the short-term moving average, which is a bullish technical signal.

The trading volume continues to rise, indicating that buyers are still active. The MACD and RSI indicators confirm this momentum. Although the RSI indicator is overbought at 82.86, analysts state that the bulls still have room to rise, provided they return to the range of 0.16 to 0.18 US dollars.

(Source: Trading View)

The surge in SPK prices is driven by significant growth in on-chain activities of the Spark network. The project's total locked value (TVL) has grown by 40% compared to the previous quarter, reaching $10.48 billion. SparkLend and Spark Savings are leading this growth, currently holding a combined total of $7.25 billion.

Since the June Airdrop, over 120 million SPK have been staked. This surge in staking occurred after the introduction of the 3x Spark Points incentive mechanism. This move not only locks in supply but also attracts demand from both new and existing holders.

Rewards and Airdrops Keep Retail Users Engaged

In just a week, the Spark ecosystem has distributed $4.3 million worth of SPK and $10 million worth of USDS. These funds will directly reward savers and liquidity providers. Many traders are also preparing for the second phase of the Ignition Airdrop from Sparkdotfi.

The first phase has brought high participation, and users are now looking forward to greater rewards. As wallets prepare for the next round of Token distribution, the amount of held coins is also increasing. This anticipation is attracting more attention to SPK.

The appeal of Spark goes far beyond staking. The platform offers stable savings yields and attractive mining opportunities throughout its ecosystem. The liquidity program linked to the native Spark token is attracting investors seeking passive income.

These features enhance liquidity depth while tightening the available supply. As more and more users stake and mine SPK, the circulating supply is decreasing, which adds momentum to the current rising trend.