Skale Token (SKL) Price Prediction – 2023, 2025, 2030 

Skale Token (SKL) Overview

Skale Token (SKL) Introduction

Skale token (SKL) is an Ethereum token that powers the Skale Network, which describes itself as “an Ethereum-compatible network with a leaderless consensus designed to run on an uncapped number of independent nodes.” Nodes on the Skale Network provide resources to multiple decentralized elastic blockchains. The SKL token grants a right to participate as a network validator, stake as a delegator or access a share of the network’s resources as a developer. 

Moreover, the Skale Network is an open-source, decentralized network for developing blockchains and decentralized applications (dapps) on the Ethereum network. Basically, it aims to let developers build their own blockchains that can communicate with the Ethereum network, while avoiding Ethereum’s gas fees and scaling issues. Ethereum is typically slow to verify and authorize transactions. Using Skale Network greatly improves the speed at which Ethereum verifies transactions as Skale can operate much faster and run up to a maximum of 2,000 transactions per second per chain, according to the team.

SKALE Network officially launched in 2018, and was founded by Jack O’Holleran and Stan Kladko, with both founders having experience in blockchain and cryptography. The project is maintained by the N.O.D.E. Foundation in partnership with Skale’s core team, Skale Labs. Community developers also pitch in with improvements voted on using the blockchain’s on-chain governance.

Impressively, the Skale Network has raised a total of $41 million from nearly 50 different backers. Prior to the SKL token launch, Skale raised $10 million in a Simple Agreement for Future Tokens (SAFT) sale and held an $8.68 million funding round led by Multicoin Capital. Then, in October 2019, it raised $17.1 million from Arrington XRP Capital, ConsenSys Labs, HashKey, Multicoin Capital, Winklevoss Capital and others in order to launch the Skale mainnet. Skale Labs contributed $10 million of the funds, with the remaining $7.1 million coming from outside investors.

Before we provide you with a comprehensive Skale token price prediction from 2022 – 2030, we’ll go over how the ecosystem works and what makes it unique. The quantitative factors will be combined with our technical and financial analysis. 

What is the Skale Network?

Skale Network is a Layer-2 scaling solution that creates a sidechain environment to relieve the congestion on the Ethereum network. It allows developers to host and develop decentralized applications on the network while using SKALE elastic sidechains instead of the Ethereum mainnet.

Users can define specific sidechains to arrange a suitable environment for creating Dapps by choosing protocols, the size of the sidechain in use, virtual machine, parent blockchain, and security measures to create a configurable Elastic Chain for their Dapps.

Thus, SkaleNetwork creates a highly scalable infrastructure that is interoperable and compatible with the Ethereum platform, forming a network of Elastic Sidechains that Dapp developers pay monthly subscriptions for. Thanks to the employment of such infrastructure and specific sidechains, Skale improves the performance of Dapps on the Ethereum network with low latency and high throughput, while also enabling faster transactions within the ecosystem of sidechains.

How does the Skale Network work?

The Skale Network functions as both a security layer and an execution layer for Ethereum. Skale’s white paper outlines how providing those two layers to Ethereum creates an Ethereum-compatible network that is capable of supporting independent blockchains, sidechains, storage chains and dapps.

The execution layer implementation for the Ethereum network provides a fast and secure layer-2 product using elastic sidechains. Elastic sidechains are independent blockchains that provide additional functionality to other “layer 1″ blockchains. What makes elastic sidechains unique is that they create a pool of validators that are randomly assigned in order to assure decentralization. Skale’s implementation of randomness, rotation and incentive-based technologies allow the network to also serve as a security layer for the Ethereum network.

Basically “Elastic Sidechains” allows users to define sidechains to fit their needs. Devs can adjust the sidechain they want to use for Dapps to fit certain specifications, so they can select consensus protocols, virtual machines, parent blockchain, and define the security protocol on the sidechain. Once the sidechain is defined, devs can pay monthly subscriptions to use sidechains for developing and hosting decentralized applications. Smart contracts on sidechains communicate with the mainnet contracts, which is how interoperability between the Ethereum platform and SKALE sidechains is established. While using elastic sidechains, users are still able to access the Ethereum mainnet.

SKALE can also execute transactions through sidechains, validating multiple transactions simultaneously and then sending them back to Ethereum for bulk verification. That is how SKALE assists in speeding up transactions in times of network congestion. SKALE sidechains are also suitable for testing Dapps as the mainnet front-facing Dapp won’t be affected in the case of a bug or a crash.

Skale Token Coin Overview

SKL is a multi-use token that lets holders participate in the network as a validator, stake as a delegator or deploy an “elastic sidechain” or “elastic blockchain” for a period of time as a developer. Validators can stake SKL to run network nodes and earn both fees and tokens. Delegators can delegate their tokens to validators to receive a portion of the validator’s staking rewards. Finally, developers can pay SKL to rent computer resources to deploy their own elastic sidechain through a subscription-based model.

The SKL token is built on an ERC-777 token standard. ERC-777 tokens support delegation on the token level. This means that a delegator will no longer have to send their tokens to a delegation smart contract. Instead, the delegator will share a staking provider a secure delegation key while storing their tokens in a wallet of their choice. ERC-777 is fully backwards compatible with ERC-20.

In addition to facilitating participation and activity on the Skale Network, SKL holders can use the token to participate in the network’s on-chain governance system. That means users can vote on proposals that determine the future direction of the project.

Meanwhile, staked SKL tokens will be locked, while staked, and token holders can choose to stake for 3, 6 or 12 months. Token holders who choose to stake for longer will have a higher reward rate (1.5x for 6 months, and 2x for 12 months) when compared to staking for the 3 month minimum. All validators will receive equal rewards on Skale Network with the exception of the multiplier for choosing to stake tokens longer. This means that rewards are not proportional to the amount of tokens staked to the validator. With this in mind, it would be beneficial for a staker to stake to a validator with lower stake.

The SKALE Network was the first project to launch a token on ConsenSys Codefi’s Activate platform — which is “designed to launch decentralized networks and allow customers to purchase, manage and use their tokens — all in one application.” Activate was designed to create new standards for the distribution of utility tokens, and ensure that networks are fully usable as soon as tokens are sold. It’s hoped that this approach will help clean up the appearance of the initial coin offering sector, which has been susceptible to scams in recent years.

Skale Token (SKL) Historic Price

SKALE Network has a limited total supply, which acts as an anti-inflation mechanism. Unless it is voted otherwise in the future through the decentralized governance model used on the SKALE Network, no new SKL will be minted once the total supply is exhausted. SKALE’s max supply is 7,000,000,000 SKL.

SKL was launched at $0.03 and never looked back. Although in the first round of the pre-launch, participants were able to purchase SKL for $0.0034 apiece, SKL has never fallen below $0.03, making its launch price it’s all-time low. 

SKL’s price spikes have trended with the token’s listing on exchanges. The token was first listed on Binance at the end of 2020. Following the announcement that SKL would receive its second exchange listing on Huobi, the price of SKL doubled in two days. SKL reached its all-time high of $1.22 in March 2021 following the token’s listing on Coinbase. However, in just one week, the price went down to $0.44.

Skale Token (SKL) Current Price

Skale Token is currently worth $0.102399 USD. SKL has moved 1.97% in the last 24 hours with a trading volume of $38,530,178. Skale Token is currently ranked 132 amongst all cryptocurrencies with a market capitalization of $546,716,418 USD.

Utilizing the relative strength index (RSI), moving weighted average (MWA), williams fractal (fractal) and moving average convergence divergence (MACD) from the chart above, we can determine price patterns for Skale Token (SKL) to decide wether it is going to have a bullish or bearish year.

Skale Token (SKL) Price Prediction

As Jack O’Holleran, Founder of the SKALE Network wrote back in February, “We have a big vision, we want to see multiple million daily active user dApps coming out over the next year, and we are passionate about helping Ethereum achieve its first billion consumers.” As such, the success of SKL is anchored on the network’s fulfillment of its roadmap as the first blockchain network fully optimized for Web3 user experience and security.

Another significant unknown that would significantly affect SKALE’s future is the forthcoming Proof-of-Stake-based consensus acceptance by Ethereum, on which SKALE is based. It will decrease the cost of participating in the system, which would either influence the network to fizzle out, force it to adapt or attract more blockchain developers to the project.

Our price prediction forecasts use real-time Skale Token (SKL) market data and all data is updated live on our website. This allows us to provide dynamic price predictions based on current market activity.

Skale Token (SKL) Price Prediction 2023

Skale Token, according to some, is one of the most amazing cryptocurrencies to rise this year (SKL). The SKL price forecast for 2023 anticipates a significant increase in the year’s second half, possibly reaching $0.153598.

As with other cryptocurrencies, the rise will be gradual, but no considerable drops are expected. Averaging $0.143358 in price is quite ambitious, but it is feasible in the near future given anticipated collaborations and advancements. SKL is expected to have a minimum value of $0.122878.

Skale Token (SKL) Price Prediction 2024

In 2024, Skale Token SKL price prediction has much room for expansion. As a result of the potential announcements of numerous new partnerships and initiatives, we anticipate that the price of SKL will soon surpass $0.255996. However, we should wait to see if the SKL’s relative strength index comes out of the oversold zone before placing any bullish bets.

Considering the market volatility, SKL will trade with a minimum trading price of $0.204797 and an average trading price of $0.225277.

Skale Token (SKL) Price Prediction 2025

If the upward trend continues until 2025, it could reach $0.358395 and SKL may profit. If the market experiences a decline, the goal may not be met. SKL is expected to trade at an average price of $0.327675 and a low of $0.307196 in 2025.

Skale Token (SKL) Price Prediction 2026

If Skale Token successfully boosts market sentiment among cryptocurrency enthusiasts, the SKL coin price could remain stable for the next five years.

According to our projections, SKL will be green in 2026. The SKL is expected to reach and surpass its all-time high in 2026. In 2026, the virtual currency will be worth $0.460794, with a minimum price of $0.409594 and an average price of $0.430074.

Skale Token (SKL) Price Prediction 2027

After some extensive forecasting and technical analysis, we estimate the SKL price is expected to cross an average price level of $0.532473 by 2027, with a minimum price of $0.511993 expected before the end of the year. Furthermore, SKL has a maximum price value of $0.563192.

Skale Token (SKL) Price Prediction 2028

Due to the future partnerships that are expected to happen by 2028, we are expecting that a bullish trend will continue, bringing the average price to around $0.634871. If SKL manages to break the resistant level in 2028, we could see a maximum price of $0.665591, failing to gather the support SKL needs by 2028 could result in a low of $0.614391.

Skale Token (SKL) Price Prediction 2029

While SKL is striving towards interoperability between networks to hasten interaction, the bullish trend from the previous year is expected to continue. So the minimum trade price has been placed at $0.71679 and a yearly price close above $0.767989 in 2029.

Skale Token (SKL) Price Prediction 2030

By 2030, Skale Token will finally surpass its previous ATH values and record new price levels. The minimum price could be $0.819188 and potentially reach a maximum price value of $0.870388, averaging out at $0.839668.

Skale Token (SKL) Price Prediction 2031

The cryptocurrency market is known to be highly volatile which is one of the many reasons why price forecasting is a difficult task. BitcoinWisdom tries our best to forecast future price points with precision, however all predictions should not be taken as financial advice and you should DYOR (do your own research). In 2031, we are expecting cryptocurrency to have gained adoption across many sectors. As such, the maximum SKL price in 2031 is projected to be $1.00 in the event of a bull run, with an average price level of $0.962546.

Premium Skale Token (SKL) Price Predictions

Create your account below to receive exclusive access to a wide range of trading tools such as premium Skale Token price predictions, advanced SKL buy/sell signals and much more.

FAQ

Latest Predictions