Spark's revenue over the past 30 days is approximately $4.5 million, which is close to Pendle's $5.6 million. In comparison within the lending sector, the projects that the market has recognized during this period are:
- maple $770,000
- Euler $540,000
- Fluid $1.1 million
Spark is almost leading by a significant margin, with only Aave as a major competitor ahead.
With a market cap of around $100 million, the only issue is that $SPK and $SKY are currently subsidizing the USDS Farm, which poses potential selling pressure. However, once revenue starts to establish a connection with the tokens, the situation could change immediately.
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