Santiment: After the Kelp incident, "refugee trading" emerged, SPK token surged 100% in 48 hours

ME News, April 24 (UTC+8), on-chain analytics platform Santiment tweeted that six days after the Kelp incident, the market showed clear signs of a "refugee trade".
Spark token SPK surged from $0.029 to $0.058 in 48 hours, a gain of over 100%.
Meanwhile, whale trades (over $100k) surged from a baseline of about 30 per day to 183 today.
In contrast, the price of AAVE token continues to decline, currently hovering around $92, even though Bitcoin broke through $79k earlier this week.
Santiment pointed out that this incident did not simply cause destruction, but rather led to a redistribution of funds — a liquidity crisis in one protocol became a bull market for another.
Note: "Refugee trade" is a metaphorical term in the crypto/DeFi space, specifically referring to the phenomenon where funds flee en masse from a damaged or high-risk protocol to another relatively safer and lower-risk protocol, like refugees. (Source: ChainCatcher)
SPK1.81%
AAVE-3.80%
BTC-0.99%
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