Spark’s native token, SPK Token, was released on Tuesday after much anticipation. The tokens have secured a list of major exchanges including Coinbase, Binance and more.
However, since its release, it has plummeted in double digits and has dropped significantly. This decline could be attributed to post-air sales.
Spark (SPK) Token price will be silent after release
Spark is a Defi platform that allocates capital on-chain by borrowing from Sky’s $6.5 billion stubcoin reserve. The platform deploys this capital into decentralized finance (DEFI), centralized finance (CEFI), and real-world assets (RWAS).
SPK tokens play a central role in the protocol. Holders will be able to participate in governance and stake tokens to earn Spark Point rewards. Token entered the market yesterday through airdrops.
“Phase 1 of the Ignition Airdrop is now available for billing. If you are eligible, you can now request UTC at 2pm on July 22nd and bet additional SPKs on overdrive,” Spark posted.
In particular, SPK’s debut comes with significant market activity, and Binance has released a list for several trading pairs. The exchange also announced exclusive SPK airdrops, distributing 2% (200 million) of its total token supply.
“Binance is the first platform featuring Spark (SPK), with trades open at 8:00 UTC on June 17, 2025.
Additionally, the SPK was added to purchases for Binance Simple Aren, Buy Crypto, Binance Convert, Binance Margin, and Binance Futures, all with up to 75x leverage on the same day.
Exchange has categorized SPKs under seed tags. It is used to identify cryptocurrencies at the early stages of development that are considered high risk and volatile. Coinbase listed the tokens under similar experimental labels.
“Spark (SPK) is published using experimental labels on Coinbase.com and the Coinbase iOS & Android app. Coinbase customers can log in to buy, sell, sell, send, receive or store these assets,” the exchange wrote.
In addition to these exchanges, Kucoin, Okx, Crypto.com, Bitmart, Bibit, Bitget, MexC and Woo X have chased the suits and started trading SPKs on the platform.
The token’s strong debut quickly made it to an all-time high of $0.075. SPK Token ranked second among Coingecko’s top trending cryptocurrencies. However, the first pump proved to be short-lived.
Spark (SPK) token price performance. Source: Coingecko
Early investors began to make profits and then lead to price declines. At press time, the token price fell to $0.057, representing a 23.7% decline.
Abrupt price corrections raise questions about SPK’s short-term trajectory, but Spark’s strong position in the Defi space suggests a strong underlying utility of SPK. As the Airdrop claim period continues, market participants will closely monitor SPK’s performance and their ability to recover from the latest sales pressures.
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