<div><h3>Topic Summary and Market Impact</h3><p> SPK soared 200% in three days, with a market value exceeding US$1.2 billion. On-chain activity and short-term trading enthusiasm continued to rise, and market sentiment was extremely excited.</p><h3> Drive logic analysis</h3><p> The main reason is that there are frequent arbitrage opportunities for revolving loans on platforms such as Pendle, PT whales’ price-cutting arbitrage, point incentives and high yields have triggered an influx of funds, and FOMO sentiment has pushed up prices.</p><h3> Strategic recommendations and risk warnings</h3><p> Aggressive investors can participate in short-term arbitrage, but they need to be wary of high volatility and the risks of major arbitrage sales. Conservative investors are advised to wait and see, paying attention to on-chain capital flows and changes in yields.</p><p style="margin-top: 20px; text-align: center; opacity: 0.4;"><small>AI-generated summary, not investment advice</small></p></div>