Spark Token Price Surges to Record High, Will it Reach $1?

Spark token price surged to a record high of $0.096, up from an all-time low of $0.0467, driven by network growth and high trading volume. Its total value locked crossed $8 billion for the first time, with most assets in its lending protocol and savings platform. The token rally coincided with DeFi token gains, and a cup-and-handle pattern suggests a target price of $0.1030.

The Spark (SPK) token has experienced a significant price surge, reaching a record high of $0.096, up from an all-time low of $0.0467 [2]. This upward trend is driven by robust network growth and high trading volume, with the token's total value locked (TVL) crossing the $8 billion mark for the first time [2]. The majority of assets are concentrated in the lending protocol and savings platform, contributing to the overall growth.

The recent price rally coincides with broader gains in the DeFi sector, with Spark's TVL hitting an all-time high of $8.15 billion [2]. The platform's products, such as Spark Savings offering a 4.5% annual percentage yield (APY), and SparkLend, which holds $4.9 billion in TVL, have been instrumental in this growth. Additionally, the Spark Liquidity Layer (SLL) manages $3.98 billion in allocated assets, further bolstering the network's liquidity [2].

The surge in SPK's price can be attributed to several factors. Firstly, the upcoming second phase of the Ignition airdrop, known as 'Overdrive,' has generated significant interest among investors. Users are rushing to stake their tokens and meet the deadline to qualify for the airdrop, which is expected to end on August 12, 2025 [2]. The staking requirement has led to a reduction in the circulating supply, putting upward pressure on the price.

Furthermore, the recent price action has followed a cup-and-handle pattern, suggesting a potential target price of $0.1030 [2]. Analysts are increasingly optimistic about SPK's prospects, predicting that the token could reach $0.10 to $0.15 within the next year and potentially $0.50 or more in the next two to three years as it expands its partnerships and explores cross-chain opportunities [2].

However, it is essential to note that the price may experience short-term volatility once the airdrop distribution is complete. Some recipients might sell their tokens, potentially leading to selling pressure and a temporary price decrease.

In conclusion, Spark's (SPK) price surge is a testament to its growing network and the increasing demand for DeFi tokens. As the token continues to expand its ecosystem and attract more users, it remains an attractive investment opportunity for those interested in the DeFi sector.

References:
[1] https://www.globenewswire.com/news-release/2025/07/21/3118734/0/en/Bitcoin-Solaris-Announces-1-Genesis-Event-Token-Sale-Ahead-of-20-Launch.html
[2] https://beincrypto.com/spark-price-surge-defi-ignition-airdrop/