SPK crypto up 280% in 30 days – Will the rally hold in August?

ambcryptoPublished on 2025-08-05Last updated on 2025-08-06

Key Takeaway

Spark crypto has nearly tripled in the past 30 days of trading before slightly cooling off. Is the Coinbase CEO’s backing enough to erase recent losses and extend the recovery in August?

Spark protocol [SPK] soared 280% in the past 30 days thanks to the staking craze and a shout-out from the Coinbase CEO.

The native governance token of the lending platform, Spark Finance, powered by Sky (formerly Maker), began its rally in mid-July.

In late July, the SPK crypto pumped nearly 400% from $0.036 to $0.19, marking the largest gains during the explosive run.

But it dropped afterwards, bringing the overall rally in the past 30 days to 280%.

Staking craze lights the fuse

In July, Bitcoin [BTC] hit a new record high above $120K, triggering a mini-altcoin season, especially for DeFi tokens.

Amid this positive backdrop, the Spark protocol unveiled Spark Farm, allowing stablecoin suppliers to earn SPK rewards for their digital dollars, whether USDS, DAI, USDC, etc.

Next, Overdrive was launched, allowing users to earn twice as much SPK if they lock it in the platform.

Source: DeFiLlama

The protocol’s TVL (total locked value) soared from $6.3 billion to $8.18 billion over the same period, underscoring the network growth.

The staking-driven demand fueled the rally in July. But everything faded after BTC lost $120K and dropped further.

On the 4th August, the altcoin recovered 31%. The latest rally followed a recent shout-out from Coinbase CEO Brian Armstrong and a slight BTC recovery.

Source: X

What’s next for SPK crypto price?

SPK has flashed a buy signal on the lower timeframe via the Supertrend indicator over the past five days.

If the recovery continues, the next target is the recent high of $0.19, representing a potential 47% upside.

However, for this bullish momentum to hold, $0.12 must be flipped into support. A failure to do so—marked by price rejection at that level—could empower bears to push SPK down toward $0.11 or even $0.09.

Source: SPK/USD, TradingView

To strengthen the bullish case, the On-Balance Volume (OBV) indicator must break above its overhead resistance. This would signal strong buying pressure and reinforce the potential for a sustained recovery.

SPK’s explosive rally in July was fueled by a broader market uptrend and a surge in staking activity within the Spark Finance protocol.

While a supportive statement from Coinbase’s CEO helped spark a temporary bounce, the continuation of SPK’s recovery will likely hinge on the overall market trend.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion

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How to Buy SPK

Welcome to HTX.com! We've made purchasing Spark (SPK) simple and convenient. Follow our step-by-step guide to embark on your crypto journey.Step 1: Create Your HTX AccountUse your email or phone number to sign up for a free account on HTX. Experience a hassle-free registration journey and unlock all features.Get My AccountStep 2: Go to Buy Crypto and Choose Your Payment MethodCredit/Debit Card: Use your Visa or Mastercard to buy Spark (SPK) instantly.Balance: Use funds from your HTX account balance to trade seamlessly.Third Parties: We've added popular payment methods such as Google Pay and Apple Pay to enhance convenience.P2P: Trade directly with other users on HTX.Over-the-Counter (OTC): We offer tailor-made services and competitive exchange rates for traders.Step 3: Store Your Spark (SPK)After purchasing your Spark (SPK), store it in your HTX account. Alternatively, you can send it elsewhere via blockchain transfer or use it to trade other cryptocurrencies.Step 4: Trade Spark (SPK)Easily trade Spark (SPK) on HTX's spot market. Simply access your account, select your trading pair, execute your trades, and monitor in real-time. We offer a user-friendly experience for both beginners and seasoned traders.

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