3 noteworthy airdrops this week

The latest cryptocurrency airdrops are drawing attention this week as Spark (SPK), Sonic (S), and LayerEdge (EDGEN) are all attracting attention with new distribution campaigns and ecosystem development. SPK recently launched on Ethereum, reinforcing its plans to expand DeFi and Spark's governance roadmap.

Sonic has launched an airdrop worth 82 million dollars with a distribution structure (vesting) based on NFT to mitigate selling pressure. Meanwhile, LayerEdge leverages the security of Bitcoin and Zero-knowledge technology (ZK)*, although their EDGEN token is under pressure after significant price drops.

Spark (SPK)

Spark (SPK) is an on-chain asset distribution tool focused on DeFi, designed to deploy capital on DeFi platforms, centralized finance (CeFi), and real-world assets (RWA).

SPK operates through key products such as SparkLend and Spark Savings, allowing users to earn competitive returns on stablecoins or borrow assets like USDC, USDS with interest rates controlled by governance.

The SPK token powers the ecosystem, enabling staking, governance participation, and farming incentives. Currently, over $3.9 billion is deployed on the liquidity and savings layers of this tool.

SPK Price Chart | Source: TradingViewSPK, the native token of Spark, has recently launched on Ethereum and plays a key role in the platform's expansion. Although still in the initial trading phase, SPK has drawn attention due to its airdrop campaign and governance roadmap.

Technically, SPK has surpassed the nearest resistance level at $0.056. A stronger rebound could push the price towards the $0.0659 zone; however, sustainability will depend on the level of user draw attention in the ecosystem as well as participation in staking and governance activities when these features officially come into operation.

Sonic (S)

Sonic (S), the blockchain layer-1 previously known as Fantom, has just launched a large airdrop campaign worth 82 million dollars aimed at distributing over 190 million S tokens across multiple phases.

This airdrop campaign has a unique distribution structure - 25% of the tokens are unlocked immediately, while the remaining 75% are locked in tradeable NFTs for 270 days. Users can unlock these tokens early, but will incur a token burn penalty to discourage short-term profit-taking and reduce selling pressure on the market.

The eligible recipients of the airdrop are quite diverse, including Sonic Point holders, Opera users, Sonic Arcade players, and NFT Shard minters.

Price Chart S | Source: TradingViewDespite a 35% price drop in the past month, the Sonic ecosystem continues to expand, with a total value locked (TVL) surpassing 870 million dollars and the number of daily active addresses exceeding 50,000.

Technically, Sonic is currently holding an important support level around $0.312 — if this level is broken, the token risks dropping below $0.3 for the first time.

However, if the upward momentum returns, the nearest resistance area is at $0.341 and a strong recovery could push the price up to $0.4, even $0.541.

LayerEdge (EDGEN)

LayerEdge Network (EDGEN) introduces a new security architecture that combines the time-tested consensus mechanism of Bitcoin with a distributed verification model.

By linking its operations with the Bitcoin blockchain and using lightweight nodes through the proprietary edgenOS operating system, LayerEdge avoids centralized points of failure and enhances scalability.

EDG Price Chart | Source: TradingViewThe integration of ZK cryptography helps ensure integrity in computations, providing mathematical proof of accurate execution.

Despite having a strong technical infrastructure, EDGEN — the native token of LayerEdge is still under significant downward pressure, with a decline of more than 8% in the past 24 hours and over 25% in the past week.

If the current downtrend continues, the token may test the important support level around $0.095. However, if market sentiment reverses, EDGEN may retest the resistance area of $0.0118, opening up the possibility for a short-term recovery.

***Zero-knowledge (ZK) refers to a type of protocol in which one party can prove to another that a statement is true without revealing any information other than the validity of that statement.

Minh Anh