If I put my heart into it, everything crashes, lol 😂😂😂😂 Today's TGE of Spark was no exception. It's sad but funny ㅠㅋ I've been researching when I can safely buy in. 1. Current status of $SPK: - MC: $100m - TVL: $3.36b - MC/TVL: 0.0298 This is key. (You can find this data on CoinGecko or DeFiLlama) 2. Comparison with competing projects: - Average MC/TVL of competing projects: 0.177 - MC/TVL ratio of similar tier Venus ($XVS): 0.061 3. Estimated fair market cap: - Even applying the level of Venus to the current Spark TVL of $3.36b, the fair market cap would be $200m. - That's exactly double the current value. - If it recovers to the average of competitors, the market cap could be $590m. - This suggests a potential pump of about 6 times the current value ㄷㄷ 4. So when to buy?: - But since today is TGE, the volatility is crazy, and it's generally better not to buy on TGE day. - It's wise to wait and see how the early investors are selling, and then enter when the price stabilizes. Even conservatively, a market cap of $200m seems quite possible, so it might be good to dollar-cost average below the current market cap of $100m. 5. But there’s a part that you really need to be careful about: The current TVL of Spark could drop significantly. Since the TGE is over, there's a high chance the TVL will decrease. If that happens, the current price may not be cheap anymore. Don't forget~~~~ (I wonder if any YouTubers know this catchphrase, lol) @sparkdotfi