SPK (Spark) rose 11.40% in the last 24 hours.

Gate News Bot message, September 26, according to CoinMarketCap data, as of the time of writing, SPK (Spark) is currently reported at $0.05, with a rise of 11.40% in the last 24 hours, peaking at $0.07 and dropping to a low of $0.05. The current market capitalization is approximately $93.9 million, an increase of $9.61 million compared to yesterday.

Spark is a blockchain-based asset allocation platform that builds a state-of-the-art, scalable yield engine by intelligently deploying capital across DeFi, CeFi, and real-world assets. Spark is built on two core pillars: liquidity deployment and on-chain solutions. Users can earn yields on stablecoins through Spark Savings or borrow USDC and USDS via SparkLend. SPK is the native token of Spark, used for staking, governance, and long-term benefit alignment.

Important news about SPK recently:

1️⃣ Strategic cooperation with PayPal significantly enhances PYUSD liquidity PayPal has chosen to collaborate with the Spark platform, aiming to expand the deposit scale of PYUSD from $100 million to $1 billion through DeFi lending mechanisms. This partnership enables users to deposit and borrow PYUSD, supported by Spark's liquidity from a stablecoin reserve pool of up to $8 billion. This move not only aids in the expansion of the PYUSD ecosystem but also highlights Spark's significant position in the DeFi space.

2️⃣ The native token SPK of Spark has a market capitalization exceeding $80 million As of the latest data, the native token SPK of the Spark protocol has reached a market capitalization of $81 million, while its partner token BOOST has a market capitalization of $23 million. This market capitalization reflects the market's recognition of the Spark ecosystem and lays a solid foundation for future development.

3️⃣ Gate exchange launches SPK trading pair Gate will soon open the BTC and USDT trading pairs for SPK. This move will provide more liquidity and trading opportunities for SPK, and is expected to attract more investors and users to participate in the Spark ecosystem.

The collaboration between Spark and PayPal, as well as its influence in the DeFi space, is gradually becoming evident, which may be the main factor driving the rise in SPK prices. As more trading platforms support SPK trading, its liquidity and market recognition are expected to further increase. However, investors still need to closely monitor the overall cryptocurrency market trends and potential risks.

This message is not an investment advice; investors should be aware of market volatility risks.