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SKALE Network Price Prediction

An up-to-date SKALE Network price prediction for 2021, 2023, 2025. Wondering what is the future of SKL price? Find out SKALE Network price forecast with historical, fundamental and technical analysis.
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SKALE Network Fundamental Analysis

Project name
SKALE Network
Stock Symbol
SKL
Curr. Price
0.2589
Curr. Supply/Total Supply
4340831027.964914
ROI Since Launch
No Data
Launch Date
No Data
Official Website

SKALE Token (SKL) is an Ethereum-based ERC-777 token designed to bring scalability to Ethereum, increase transaction capacity to about 2000 per second, and lower transaction costs. Blockchain developers can use SKALE tokens to “rent” scalable independent sidechains in the SKALE Network. It offers access to the whole Ethereum ecosystem and can be used for more effective building and scaling Ethereum-based applications.

As SKALE network works on the PoS algorithm, SKL token is essential for network maintenance. It allows one to choose the role of a validator and run a node that validates blocks and thus keeps the network secure for profit, or a delegator – a token holder who by staking his tokens “delegates” is to validators to use for their work and get a smaller reward. Note the importance of the delegation mechanic to the network: the ERC-777 token standard is used, instead of the more popular ERC-20, because it features delegation on the token level (it allows the transfer of a public key and not the token itself). 

There are also some fairly unique aspects of SKALE, for example, the validator node rotation system which helps mitigate the risk of collusion and bribery. Another notable feature is having a subscription model to provide developers with sidechains for their projects. Rather than following fluctuating Gas prices like other Level 2 Ethereum-based services, SKALE lets developers access its resources for a fixed fee, paid upfront in tokens (SKL). 

Although this project is quite new and relatively unknown, technologies used by this network are considered quite promising and are supported by industry leaders and experts. Having such a solid technological foundation means that it’s at least reasonable to expect growth in the long term, as more people join the network. This is also evidenced by the names attached to it: SKALE is supported by experienced players such as Boostvc, Winklevoss Capital, Spartan etc.

Finally, on a more philosophical note, the SKALE developers’ stated goals of accelerating mass adoption of the blockchain technology and decentralization in general would also be a “pro” for someone who is a true believer in the same kind of future.

SKALE Network Live Price Chart

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SKALE Network Technical Analysis

Despite the fact that 100% accurate technical analysis for SKALE Network cryptocurrency is hardly possible, on this advanced technical analysis tool by TradingView you can see the real-time aggregated SKL buy-and-sell rating for selected timeframe. The summary for SKL/USD is based on the most popular technical indicators — Moving Averages, Oscillators and Pivots.

SKALE Network Price Prediction

Below we have collected the most reliable price projections for SKALE Network (SKL) from popular forecast platforms.

#1. WalletInvestor SKL Price Prediction for 2021, 2023, 2025

According to WalletInvestor, SKALE Network price will grow from $0.2589 to $0.591 in one year. That makes SKL an awesome investment. The long-term earning potential is 128.27%. Predicted price for the end of 2026 is $1.960.

#2. TradingBeasts SKL Price Prediction for 2022

Answering the question about if SKALE is a good investment, TradingBeasts say a resounding yes. In the 2021 perspective, this coin price is predicted to reach $0.3085270 with a growth to $0.5099049 by the end of 2022.

#3. DigitalCoin SKL Price Forecast for 2021, 2022, 2023, 2025

In DigitalCoin analysis, the price of SKALE Network cryptocurrency will rise in the next 5 years starting from $0.259319 as of today’s price to $0.9362138. It will go up to $0.4393198 by 2022 and starts its reduction in 2023-2024. Based on this forecast, SKALE Network is a profitable long-term investment.

Summary

As it can be clear from the analysis cited above, SKALE Network (SKL) projections are rather contradictory. There is no universal consensus either about positive or negative future SKL price movements. Indeed, the future possible growth depends on various factors: announcements, new technological solutions of the SKALE Network projects, the crypto environment in general, legal position, and so on. We kindly remind you that before investing in any cryptocurrency, it is essential to do your own research (DYOR).

SKALE Network is a relatively new player among the crypto projects which is worth watching. As dApp development gains traction, chances are that SKALE Network will grow to accommodate demand. Related to this point, one of the big unknowns which can either make SKALE or break it (or at least contribute greatly to the project’s future) is the upcoming Proof-of-Stake consensus mechanism adoption by Ethereum, which SKALE is based on: it will lower the costs of participating in the network, which will either drive SKALE to fizzle out, have to adapt, or attract more blockchain developers to the ecosystem and help SKALE thrive. Another thing to watch for is the way the SKALE team deals with their marketing and community strategy in the future and whether they can get out the information about their – admittedly very promising – technological solutions. 

Note that the SKL historical performance hasn’t been very strong as of yet, which makes analysis harder and predictions very contradictory, especially comparing it against the potential it holds. It might be too early to draw any conclusions, though, since the project is so new. 

To sum up, this project’s features and performance may suggest that although it doesn’t necessarily look ready for immediate explosive growth, SKALE looks like a promising project to watch in the long term.

Disclaimer: This article should not be considered as offering trading recommendations. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor should research multiple viewpoints and be familiar with all local regulations before committing to an investment.

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