Key Takeaways:
- Sperax surges in the market amid renewed interest in the coin and increased trading volume in the past 24 hours.
- The coin’s market value has increased over 180% in the past 7 days.
- The market sentiment of the SPA coin continues to be in “bullish” trend with the Fear & Greed Index indicating “Extreme Greed” in the market.
SPA, the native currency of the Sperax ecosystem, has become one of the key contenders in the market following its exponential growth in the last few hours. With an unprecedented trading volume growth of 4238.57%, the SPA token is on a rampage in the crypto market. The SPA is a governance and a value accrual asset in the Sperax ecosystem. In this article, we will discuss the coin’s sudden growth in the market, the various factors that contributed to this growth, and how the coin will fare in the market in the upcoming days.
SPA Current Market Performance
Ranked #773 based on the overall market capitalization, the coin has become one of the most sought-after ones in the market due to its surge in the last 24 hours. The famed coin began its bull run yesterday, 27th November. Before that, the coin was maintaining a steady price of $0.00937. From there, the coin skyrocketed in the market in a matter of hours.
Now, with a price increase of $0.00924, the coin is trading at $0.02024 registering a daily uptrend of 116.68%. During its current bull, the coin peaked at $ 0.020280 today indicating that the coin will surge further in the market in the coming hours. With a limited supply of 1.69 billion tokens, the SPA’s current market capitalization stands at $34.61 million.
Factors Influencing the SPA Surge
The main reason behind the surge of the SPA token is mainly due to the increased trading activity and renewed interest in the token. There are also several other reasons like auto-yielding that are behind increased the adaption rate of the coin. Auto yielding mechanism is one of the main things that differentiates SPA from normal stablecoins. In this mechanism, you just need to hold the coins in your wallet for it to multiply, there is absolutely no need for staking.
The SPA’s protocol allows you to earn approximately 3-25% by holding or staking. This indicates a high return rate, especially for a DeFi platform. The trading volume of the coin has already surpassed $45.13 million, which shows a renewed interest in the famous coin. With a weekly uptrend of above 100%, the coin is slowly gaining momentum in the crypto market.
SPA Price Prediction: Short & Long Term
Now that we looked into the Sperax token’s performance in the market, let’s delve into its future. For this, we have prepared a price prediction table showcasing the potential price and ROI of the coin for the coming days and the long haul. If you are considering investing in the coin and want to gain insights into its future, kindly refer to the table below.
Short-Term Price Prediction
| Date | Avg Price | Potential ROI |
|---|---|---|
| 29 Nov, 2024 | $ 0.020232 | 8.27% |
| 30 Nov, 2024 | $ 0.020171 | 8.10% |
| 1 Dec, 2024 | $ 0.020081 | 8.51% |
| 2 Dec, 2024 | $ 0.020236 | 7.80% |
| 3 Dec,2024 | $ 0.020517 | 6.52% |
Long-Term Price Prediction
| Year | Min Price | Avg Price | Max Price | Potential ROI |
|---|---|---|---|---|
| 2024 | $ 0.019435 | $ 0.003318 | $ 0.020517 | 12.27% |
| 2025 | $ 0.018838 | $ 0.022097 | $ 0.032855 | 40.48% |
| 2026 | $ 0.018334 | $ 0.021538 | $ 0.034314 | 49.28% |
| 2027 | $ 0.018311 | $ 0.01849 | $ 0.019055 | 18.53% |
| 2028 | $ 0.013061 | $ 0.018645 | $ 0.023275 | 0.14% |
| 2029 | $ 0.007436 | $ 0.038804 | $ 0.139644 | 497.70% |
| 2030 | $ 0.002684 | $ 0.032198 | $ 0.159062 | 580.81% |
While referring to the table, you should keep in mind that the above-given prices are susceptible to changes in market trends and may vary accordingly.
Is It a Good Time to Buy the SPA Token?
The current sentiment in the market regarding the SPA token is indicating a “Bullish” trend. As per experts, the Sperax coin is likely to rise by 0.10% and maintain a value of $0.020152 in the fourth quarter of December. Currently, the coin has traded 16/30 days in green exhibiting a market volatility rate of 13.72%. The moving average of the coin in the last 50 days is $ 0.007423.
The Fear & Greed Index of the SPA shows a value of 77, which is a clear indication of “Extreme Greed” in the market. Based on this, we can conclude that it is an ideal time to invest in the famous crypto token. However, there is the fact regarding the extreme volatility associated with the crypto market. So, it would be better if you conduct your own research before proceeding with the investment.