Huo Xing Finance reports, according to on-chain analyst Yujin, Spark completed its first-month token buyback half an hour ago, spending 571,957 USDS to purchase 26.66 million SPK at an average price of $0.0215. The 26.66 million SPK repurchased in one month accounts for approximately 1% of SPK’s circulating supply, while their buyback plan is scheduled to run for 12 months. Based on this figure, a full year of buybacks would repurchase about 12% of SPK’s circulating supply—roughly 320 million SPK ($6.86 million).
Spark Completes First Month of Token Buyback, Repurchasing 26.66M SPK for 571,957 USDS
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Summary
Spark Completes Its First Month of Token Buyback, Repurchasing 26.66M SPK for 571,957 USDS. As part of its altcoin buyback initiative, Spark spent 571,957 USDS to repurchase 26.66 million SPK tokens at $0.0215 each, representing 1% of SPK’s circulating supply. Over the 12-month program, up to 12% of SPK—320 million tokens—valued at $6.86 million, may be repurchased. Investors are closely monitoring the impact on SPK’s price and overall market sentiment.
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