Spark Price Surges as Aave Protocol Experiences TVL Outflow

The cryptocurrency market has witnessed significant volatility in recent times, with the price of Spark (SPK) experiencing a notable fluctuation over the past 24 hours.

According to on-chain data, the Aave protocol was impacted by the Kelp DAO exploit, leading to a TVL outflow of over $1 billion that migrated into Spark. This has resulted in Spark's total value locked (TVL) soaring to $4.78 billion and driving a sharp increase in SPK token demand.

On-chain data also shows that Spark's stETH looping vault remained stable during the incident, attracting further capital inflows. The WETH liquidity depth has been leading the market, indicating strong buying activity.