The SPK token has experienced a dramatic surge, doubling in value from $0.029 to $0.058 within 48 hours, following the Kelp event. This increase of over 100% is attributed to a "refugee trade," where capital shifts from high-risk protocols to safer alternatives. On-chain analytics platform Santiment reported a significant rise in whale transactions, with numbers jumping from around 30 to 183 daily.
In contrast, the AAVE token has seen a decline, maintaining a price around $92, despite Bitcoin's recent rise above $79,000. Santiment highlighted that the Kelp incident, while initially destructive, has led to a reallocation of capital, benefiting certain tokens like SPK.
SPK Token Doubles in Value Amid 'Refugee Trade' Following Kelp Event
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.
