Amid the extreme volatility in the crypto market nowadays, there are cryptocurrencies that are increasing in popularity. Of course, crypto heavyweights Bitcoin, Ethereum, and Litecoin will likely maintain their spot. But for the rest of the altcoins, the rankings can change very quickly. In this SparkPoint review, we discuss SRK as one of the crypto market’s rising stars.
Particularly, SparkPoint is one of the altcoins that are beginning to spice up the competition. In fact, it is one of the most trending topics on CoinMarketCap this 2021. Also, crypto exchange BitMart considers it one of the top promising projects this year.
Given the above-said reasons, SparkPoint may have piqued the interest of crypto traders and investors. Indeed, is SparkPoint a good investment in 2021? We’ll find out in this SparkPoint (SRK) review.
But for those who may be scratching their heads, asking “What is SparkPoint?”, let us first have a little background on the project.
What Is SparkPoint?
SparkPoint is a blockchain-based platform that focuses on cryptocurrency adoption. To accomplish this, it developed its SparkPoint Wallet, as well as a number of blockchain games via SparkPlay. It also has an e-learning platform called SparkLearn.
Founded in 2018, the team started from a meager fund of less than $50,000. They also did not conduct any initial coin offering (ICO). However, SparkPoint has grown exponentially, both in market value and team members. It also offered more features and products.
SparkPoint has its own native tokens, namely SparkPoint (SRK) and SparkPoint Fuel (SFUEL). SRK is SparkPoint ecosystem’s main crypto asset which uses the Ethereum blockchain. On the other hand, SFUEL is a BEP20 token, which means that it runs on the Binance Smart Chain.
In 2020, SparkPoint made its foray into decentralized finance (DeFi) through SparkDeFi. This is where SFUEL comes in. Let’s find out what SFUEL is in this SparkPoint review.
What Is SparkPoint Fuel (SFUEL)?
SFUEL is the governance token of the SparkDeFi ecosystem. Token holders will have the power to decide on the trajectory of SparkDeFi in many ways. As the name suggests, SFUEL also functions as the fuel for all fees.
Meanwhile, SparkDeFi has a liquidity staking platform named SparkStake. It will also launch SparkLend, a peer-to-peer (P2P) lending and borrowing platform, and SparkDash, a DeFi assets management system. Furthermore, they will also launch a decentralized exchange (DEX) called SparkSwap.
SRK and SFUEL Use Cases
SRK appears to be transcending from a mere buzzword to a cryptocurrency with market value and use cases. Amid a strong search volume on CoinMarketCap, the SparkPoint team is buying back SRK tokens from the free market for burning, thereby improving its market performance.
Aside from using it as a regular cryptocurrency, SRK holders can utilize the token for various platforms within SparkPoint. Even SparkDeFi will use SRK for liquidity mining rewards and as collateral for its P2P lending marketplace.
SFUEL’s primary focus is on SparkDeFi. As said above, it’s a governance token for the ecosystem. Users who participate in governing SparkDeFi can enjoy exclusive SFUEL incentives.
Aside from SRK, users can also receive SFUEL as liquidity mining rewards.
With all these use cases, will SRK and SFUEL become one of the best cryptocurrencies to invest in 2021? Let’s find out in this SparkPoint price prediction 2021.
SparkPoint Price Prediction 2021
According to SparkPoint’s Twitter account, the team is aiming to add more trade pairs and liquidity staking. It has also been surging in trading volume in the last weeks. Moreover, the team is aiming to get its tokens listed on more crypto exchanges.
With these said, is SRK a good investment in 2021? Let’s check the charts in this SparkPoint price prediction 2021.
As seen on the chart above, SRK has recently hit its all-time high (ATH) price of $0.0031. At the time of writing, the SRK price is at $0.0026, according to CoinGecko. This is an astounding performance for SRK, all things considered.
In terms of 24-hour trading volume, SRK reached $2 million in the last few days, according to CoinMarketCap. Also, its market capitalization has recently reached $20 million from $100,000 back in January 2020. If SRK continues to perform in the next few days or weeks, it may attract more traders.
Meanwhile, top cryptocurrencies have been underperforming during the last few days. Consequently, this may encourage other investors to look for more attractive options which include SRK.
Currently, SRK appears to be undervalued despite its potential and market performance. If SparkPoint strikes an important update or gets listed in other mainstream crypto exchanges, it will definitely skyrocket in price.
Statistically speaking, this is not a long shot, since SRK performed a 5,366% return of investment (ROI) from January 1, 2020, to December 31, 2020. Please see the chart below.
As the platform is leaning more toward DeFi, we may definitely see it increase in value this year. Even now, SRK is breaking its previous records in terms of liquidity on DeFi platforms and DEXs.
Given all the above information, we can expect SparkPoint to reach new milestones this 2021. Despite the fact that the team achieved so much despite humble beginnings, there’s no telling how high it will reach.
Bullish SRK price prediction 2021 is from $0.008 to $0.01. Conversely, if the bears regain control over the entire crypto market, we may see SRK get pulled down from $0.002 to $0.0009 — a threshold that it held prior to its surge in 2020.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.