The spark prices drowned 60 % as shining fades star-news.press/wp

For a brief moment, a bright spk shine. She then came to her icarus – a violent opposite a few hours after reaching Binance, where the first holders of Airdrop rushed abroad.

It didn’t take a long time until the Earth could. On June 17, just hours after the long -awaited SPK code began from the Spark on the main exchanges including Binance, Bybit, Kucoin and Bitget, the assets were photographed for more than 60 % of the launch day price.

According to CoinMarketcap data, SPK fell from the highest level ever at $ 0.1774 to less than $ 0.04968 on Tuesday afternoon (Asian time)-a sharp correction that includes both merchants and analysts at maximum alert.

SPK, which is part of a larger problem

A closer look at SPK launch mechanics reveals a familiar style. The distinctive symbol for the first time appeared with a flood of supply that reaches the market, and many of the Airdrop recipients eager to hold rapid gains.

Within hours of Airdrop, approximately 300 million SPK code, at a value of about $ 18 million in PEK, achieved the market on June 17 after the lists were broadcast on the central stock exchanges.

With preliminary circulating supplies of about 1.7 billion SPK (about 17 % of a total of 10 billion shows), even the modest exit by the first beneficiaries launched massive sale pressure. Binance alone distributed 200 million symbols of users just for BNB in ​​the previous week. This was a negative reward, not obtained by sharing the continuous protocol.

This flow is likely to overwhelm thin arrangement books, especially in the latest menus such as bybit, speeding up the price of 60 %.

But the issue is going deeper than just opportunistic merchants. SPARK sits nearly $ 8 billion in TVL, which is supported by $ 6.5 billion of Sky Reserves, a strong infrastructure indicating long -term capabilities. However, the project found itself besieged in the familiar Airdrop noise cycle, with a semi -zero depth to absorb the sale.

This is not unique to SPK; It is a frequent subject of encryption, caused by a defective symbol model that relies heavily on the cultivation of the return and negative demand incentives, as Redrops often attract the capital’s mercenaries instead of indigenous users.

Projects such as arbitrary, Starknet, and Layerzero have similar sales after its launch, proving that even well -funded ecosystems are not immune to the “farm and discharge” mentality.