SPARK Gains 100% as SparkLend Absorbs Billions Fleeing Aave After Exploit
BeInCrypto
SPARK token prices surged nearly 100% as investors migrated capital from Aave to SparkLend following the recent Kelp bridge exploit.Summary
The SPK token experienced a nearly 100% price surge following a massive shift in decentralized finance (DeFi) liquidity. Following a $290 million exploit involving the Kelp bridge on April 18, investors withdrew billions from Aave due to concerns over bad debt. SparkLend, a competing protocol, saw its total value locked grow by over $1.7 billion as depositors sought safer alternatives. Additionally, the token's price was supported by a new listing on the South Korean exchange Upbit.
(Source：BeInCrypto)