The SPK token of Spark Protocol has surged by 280% over the past month, propelled by heightened staking activity and public backing from Coinbase CEO Brian Armstrong. This dramatic price appreciation underscores growing investor confidence in the platform.
Concurrent with the token surge, Spark Protocol’s total value locked (TVL) expanded from $6.3 billion to $8.18 billion, reflecting robust network adoption and capital inflow. Armstrong’s explicit endorsement is cited as a key catalyst for recent momentum, accelerating market exposure.
The project’s Spark Farm incentivizes participation through SPK rewards for stablecoin staking, fueling token demand. Analysts note that SPK’s price recovery trajectory now hinges on wider market trends, with the $0.12 support level considered critical for maintaining bullish sentiment.