Skale Coin: A Worthy Investment Or Just Another Crypto?

Skale is a Web3 user-friendly, modular blockchain network that is native to Ethereum and made up of high-throughput, low-latency blockchains. It is a decentralized and highly scalable multichain blockchain network, serving as a Layer-2 scaling solution for the Ethereum blockchain. The SKALE token is a usage and work token that facilitates a range of functions including governance, voting, staking, and the earning of rewards. The current price of SKALE is $0.07923 with a 24-hour trading volume of $37.195 million. The current CoinMarketCap ranking is #127, with a live market cap of $374 million. The SKALE price prediction for 2024 is a maximum price of $0.085. The coin’s minimum price will be $0.065, and the average price will be $0.0769.

Skale's price history and future predictions

Skale Price History and Future Predictions

Skale (SKL) is a native token of the Skale Network, which is a decentralised and highly scalable multichain blockchain network. It is a Layer-2 scaling solution for the Ethereum blockchain.

The price of SKL has been volatile since its launch. It had its best performance during the bull tendency in spring 2021, when it reached its all-time high of $1.22 in March 2021. However, in just one week, it went down to $0.44. The asset then recovered and stabilised around $0.6 until the beginning of May, and then fell further as the bearish season started.

At the end of May 2021, the SKL token was pulled down to $0.26, then more than doubled its price in three days and continued a long downtrend until the end of July. After reaching $0.17 on 20 July, the SKALE token started to recover its price. In one month, the coin managed to climb back to the level of $0.45, where it bounced until the middle of September.

While most crypto assets were going up in October 2021, SKL lost around 30% of its value, going down to around $0.34, and then bouncing between $0.29 and $0.40 until the beginning of December. Until the middle of the month, the price was going down until it reached $0.19.

After the announcement of an upcoming update for the Skale network, the price of the SKL token blasted 141%, growing from $0.134 to $0.33. This trend didn't last long, and the SLK token price continued to decline. In the middle of January, the asset fell to $0.11. But at the beginning of February, due to 3air’s project moving to Skale, the asset’s price recovered to $0.16 but still went back down to the previous level.

In the last seven days, SKL has lost 28% of its price but has recovered some of its value in the last 24 hours.

Future Predictions

• According to CoinCodex, the price of SKALE is predicted to rise by 227.73% and reach $0.101057 by 30 September 2024.
• CoinCodex's SKALE price prediction for 2025 is currently between $0.030835 on the lower end and $0.145544 on the high end.
• CoinCodex's SKALE price prediction for 2030 is currently between $0.077564 on the lower end and $0.125763 on the high end.
• CaptainAltcoin predicts that SKL will be worth $0.0855 in 2025.
• CaptainAltcoin predicts that the price of SKL in five years could lie around $0.0800.
• CaptainAltcoin's forecasting model sees SKALE Network reaching $0.2138 in 2030.
• CaptainAltcoin's forecasting model sees SKALE Network reaching $0.4275 in 2040.
• PricePrediction.Net's SKALE price prediction summary suggests a possibility of SKL trading between $0.0654 to $0.0774 in 2025.
• PricePrediction.Net predicts there is potential for SKALE Network price to experience a significant surge, reaching as high as $0.4908 by the end of 2030.
• PricePrediction.Net predicts SKALE (SKL) is anticipated to reach a maximum price of $27.74 by the year 2040.

Skale's current market position

Skale (SKL) is a cryptocurrency that has been around since December 2019. It is an elastic blockchain network that is native to Ethereum and is made up of high-throughput, low-latency blockchains. It is currently ranked 127th on CoinMarketCap, with a live market cap of $374 million.

Skale's current price is $0.07923, with a 24-hour trading volume of $37.195 million. It is down 6.06% in the last 24 hours. The price of Skale has been continuously decreasing since March 12, 2021, when it reached its all-time high of $1.22.

Skale is a good investment in the long term. Its price is predicted to reach $0.0855 in 2025, $0.2138 in 2030, $0.4275 in 2040, and $1.63 in 2033. However, it is important to note that cryptocurrency investments are risky and subject to high volatility.

Skale's technical analysis

Skale is a Web3 user-friendly, modular blockchain network that is native to Ethereum and made up of high-throughput, low-latency blockchains. It is a decentralized and highly scalable multichain blockchain network, serving as a Layer-2 scaling solution for the Ethereum blockchain.

Skale's native token, SKL, is a multifunctional ERC-777 utility token that plays a crucial role in the network. It facilitates a range of functions, including governance, voting, staking, and earning rewards.

Recent Performance

Skale's price has been volatile since its launch. The beginning of 2021 saw a gradual increase in the price of the Skale Network over several months, hitting its highest price in March and April 2021, with high volatility. Since April 2021, the Skale Network price has been in a downward trend.

Accumulation/Distribution

The Accumulation/Distribution has been down-trending since March 2021, indicating a lack of market attention, and the average price of the Skale Network is failing to gain mainstream media attention.

Bollinger Bands

The Bollinger Bands indicate that the most volatile period for Skale Networks occurred in March 2021 when the SKL price shot past previous highs. This was followed by a volatile downtrend until July 2021.

Moving Averages

The current price of Skale is below the 50-day exponential moving average.

Relative Strength Index (RSI)

The RSI is above 32.18, which means that SKL is in a nearly oversold state. Traders need to be cautious and avoid further losses.

Simple Moving Average (SMA) and Exponential Moving Average (EMA)

Since the start of 2021, SKL's price has seen many bullish moves, followed by fluctuations, consolidation, and corrections. This indicates that SKL has a competitive market in 2021.

Price Predictions

• By the end of 2024, the price of SKL is predicted to be around $0.0662 to $0.085.
• In 2025, the price of SKL is expected to reach a maximum of $0.0881 to $0.18, with an average trading price of around $0.195.
• In 2026, the price of SKL is anticipated to reach a maximum of $0.132 to $0.30, with an average trading price of around $0.27.
• In 2027, the price of SKL could reach a maximum of $0.1925 to $0.38, with an average trading price of around $0.35.
• In 2028, the price of SKL is predicted to be between $0.2294 and $0.46, with an average trading price of around $0.425.
• In 2029, the price of SKL could range from a potential low of $0.56 to a potential high of $0.61, with an average price of around $0.585.
• In 2030, the price of SKL is expected to reach a maximum of $0.5718 to $0.87, with an average trading price of around $0.84.

Skale's use cases and features

Skale Use Cases and Features

Skale is a Web3 user-friendly, modular blockchain network that is native to Ethereum and made up of high-throughput, low-latency blockchains. Skale is an elastic blockchain network that was established in 2018 by Jack O’Holleran and Stan Kladko. It’s a network of interconnected sidechains designed to scale Ethereum DApps. Skale chains can interact with Ethereum-based alternatives because it’s built on Ethereum.

Skale provides transactions without fees and high transaction throughputs, enabling developers to create DApps without concern for high gas fees. The network was under development and testing for two and a half years before its mainnet was launched in 2020.

The governance of the Skale network is handled by the Skale DAO, which includes over 50 members, comprising business organizations, other DAOs, and companies. Skale's native token is SKL.

The Skale token is a usage and work token. To have the right to work in the Skale Network, nodes must run the SKL daemon and stake a pre-decided amount of Skale tokens on the ETH mainnet through a range of smart contracts called the Skale Manager. After a node has been admitted to the Network, it will randomly select 24 peer nodes to audit latency and uptime. These metrics will be submitted routinely to the SKL Manager and affect a node’s rewards for engaging in the Skale Network.

The Skale token is a hybrid use token representing the right to work in the Skale network as a validator, stake as a delegator, or access a share of its resources by deploying and renting Elastic Sidechain as a developer. The users pay using the Skale coin in a subscription model to rent resources such as computation, storage, or bandwidth for a predetermined amount of time. The validators stake Skale tokens into the network and gain the right to run nodes and earn fees and tokens via inflation. Delegators may delegate their token to validators and earn rewards too.

The Skale Network is a custodial execution and storage layer (Layer 2) for the Ethereum mainnet. It uses the Ethereum mainnet for staking and other mechanical operations, creating a robust and trustworthy Layer 2 network.

Each Skale Chain comprises randomly selected virtualized subnodes that run a containerized Skale EVM-client daemon (skaled) and Skale ABBA-based consensus algorithm. This unique hybrid Layer 1/Layer two architecture partially derives security from Ethereum and combines it with the performance and decentralization of Layer 1.

The standard for security, BFT, guarantees that the network can reach a consensus even when one-third of the network participants are malicious. This dramatically increases the reliability of Skale. Among variations of BFT implementation, those that are asynchronous are the strongest. These account for the possibility that some messages between honest participants are delayed or undelivered to their intended recipients.

The BLS Threshold Signatures enable efficient interchain communication and support randomness in node allocation. A verifiable public key is stored and made publicly available on the Skale Manager for signature verification purposes for each private key share.

In the event of collusion among network participants, this leaderlessness mitigates the possibility by ensuring that each participant has an equal chance to propose and commit new blocks successfully. The Skale consensus protocol implements all virtualized subnodes that can propose blocks. Only those who receive a supermajority of threshold signatures are eligible to be accepted for potential commitment to the blockchain.

Is Skale a good investment?

Skale is a Web3 user-friendly, modular blockchain network native to Ethereum. It is made up of high-throughput, low-latency blockchains and offers zero gas fees to end users.

Skale is a good investment in the long run, even though it doesn't appear to be poised for quick explosive growth. It has a good use case, well-designed tokenomics, an active community, and a solid team behind it.

Skale's native token, SKL, is a multifunctional ERC-777 utility token that plays a crucial role in the network. It facilitates a range of functions, including governance, voting, staking, and earning rewards. Token holders can actively participate in the network by staking as validators or delegators, which helps secure the network and allows them to earn a passive income in the form of SKL tokens.

Skale's current price is $0.07923, with a 24-hour trading volume of $37.195 million. It is ranked #127 on CoinMarketCap, with a live market cap of $374 million.

• 2024 – up to $0.085
• 2025 – up to $0.0881
• 2026 – up to $0.132
• 2027 – up to $0.1925
• 2028 – up to $0.2755
• 2029 – up to $0.3962
• 2030 – up to $0.5718
• 2031 – up to $0.8123
• 2032 – up to $1.17
• 2033 – up to $1.63

Frequently asked questions