Spark Token Jumps 15 Percent Amid Whale Accumulation and DeFi Growth Concerns
The Spark (SPK) token staged an impressive recovery on Friday, surging more than 15% to hit an intraday peak of $0.1335. This sharp rally pushed its market valuation close to $130 million, marking a significant turnaround from recent lows.
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Exchange Reserves Hit Record Lows
Friday’s price surge coincided with a dramatic decline in SPK tokens held on cryptocurrency exchanges. Current data reveals that exchange reserves have plummeted to just 382 million tokens, a substantial drop from Monday’s 613 million. This trend suggests that investors are choosing to hold rather than sell their positions.
Major investors appear particularly bullish on Spark’s prospects. Whale wallets now control approximately 9.97 billion tokens, representing a notable increase from this week’s low point of 9.77 billion. Meanwhile, the platform’s staking pools have attracted significant interest, with more than 136 million tokens locked up by over 3,400 participants, and these numbers continue climbing daily.
gSpark my @cookiedotfun fam ☀️
The Rise of @sparkdotfi : A New Era in DeFi 🚀
Spark, a rising star in the decentralized finance (DeFi) ecosystem, has been making some serious waves lately, and for good reason. As of today, Spark's $SPK token is capturing the attention of the… pic.twitter.com/ievtRXZu7j
— KriptoLisa (@KriptoLisa) June 21, 2025
The accumulation pattern likely reflects confidence in Spark’s position within the decentralized finance ecosystem. DeFi Llama data shows the protocol’s total value locked has surged past $7.93 billion, marking an impressive 26% growth over the past month.
Technical Indicators Point to Potential Recovery
Every segment of Spark’s ecosystem shows robust expansion. The Spark Liquidity Layer witnessed an injection of $126 million, bringing its total assets to $4.4 billion. The platform’s savings and lending divisions maintain strong positions at $2.36 billion and $4.46 billion respectively. Additional momentum could come from the protocol’s recent listing on THENA, which ranks as the third-largest decentralized exchange operating on the BNB Chain.
However, traders should remain cautious about the possibility of a dead cat bounce — a temporary recovery in a declining market that precedes further losses. Chart analysis reveals that SPK reached its peak of $0.1898 on July 23 before tumbling 52% to Thursday’s low of $0.09052. This sharp correction reflected broader cryptocurrency market weakness combined with profit-taking after the token’s meteoric 500% gains.
The token found support at $0.09075, precisely at the 61.8% Fibonacci retracement level — often called the golden ratio due to its significance as a reversal point. Additionally, the formation of a hammer candlestick pattern, characterized by a small body with an extended lower shadow, typically signals bullish momentum ahead.
If current momentum holds, SPK could potentially retest its all-time high of $0.1898. However, any breakdown below the hammer pattern’s lower boundary would suggest this recovery is merely temporary, potentially triggering another wave of selling pressure.
