SKALE Price Prediction 2024, 2025, 2030, 2040

Many blockchain projects want to become an “improved Ethereum” and displace it from the second position of the Coinmarketcap ranking with their capabilities. However, some projects are contributing to Ethereum and helping its ecosystem to scale. Skale Network, which we are going to discuss today, is among such projects.

What is SKALE?

Skale Network is a Layer 2 solution developed in 2020 by SKALE Labs, and designed to improve scalability, speed, efficiency, and user experience by creating flexible sidechains that function as independent blockchains for individual DApps.  The dApps network operates on the Ethereum-as-a-Service principle. With a sidechain, applications can access third-party blockchains and their dApps to, for example, improve performance or security. Skale Network interacts with the Ethereum blockchain through the SKALE Manager smart contract.

SKALE’s team consists mainly of citizens from two countries – the US (management and finance) and Ukraine (technical part), which looks very promising in terms of reliability. The company’s vision is to make blockchain applications fast, simple, and free for all users. With EVM-enabled blockchains, SKALE is creating a speedy ecosystem without the need to pay for gas to support developers of NFTs, games, decentralized apps, and more. The project doesn’t have the unrealistic goal of becoming Ethereum`s “killer”. However, SKALE has ambitious goals to give an unlimited number of applications access to the Ethereum ecosystem.

SKALE Overview

SKALE is integrated with Ethereum while having its original consensus mechanism. This design takes advantage of the proof-of-stake (PoS) algorithm of the ETH network and integrates it with the SKALE network, resulting in SKALE providing high-speed and secure transactions with low fees. SKALE is beneficial for Web3 and DeFi applications in terms of cost and performance and facilitates Ethereum scaling for mass adoption.

SKALE is fully compatible with the current Ethereum ecosystem, supports all types of tokens and protocols within the network, and will work in the future when Ethereum.2.0 is launched.

The project sees its idea as the virtualization of cryptocurrency startups – providing its cloud for Web3. SKALE subnodes form their own “virtual” blockchains for each of their clients.

Essentially, SKALE provides its application clients with the Ethereum blockchain, but at a faster speed and with scalability. In the beginning, you can take a small amount of resources for your subchain, but as your project grows, you can easily add resources – for instance, for data storage, to boost a transaction bandwidth, etc. At the same time, even the most minimal blockchain inside SKALE has on-net parameters not inferior to the main Ethereum network, but for quite different (much less) money. Additionally, SKALE adds data storage, which opens up huge prospects for many applications.

A separate advantage of SKALE for blockchain developers is that they don’t need to learn new programming languages or master new development environments as almost all the existing tools in the Ethereum network apply to the new platform.

The SKALE Network Token (SKL) is a hybrid-use token that represents the right to work on the network as a validator, participate as a delegate, or access a share of its resources by deploying and leasing an elastic sidechain or elastic blockchain for some time as a developer.

SKL is an ERC-777 standard token that is backward compatible with the ERC-20 standard, meaning it is supported by all members of the ERC-20-enabled Ethereum ecosystem. It supports token-level delegation, a secure method of non-custodial staking. Instead of locking funds in a smart contract, users can lock SKL for staking from their wallets using a delegation key. 

Application developers make a subscription payment in SKL tokens to access resources on the blockchain platform. It works like this:

• The owner of dApps reserves a certain amount of SKALE tokens in a smart contract. The validator chooses the capacity and lease term of the network’s computing resources.
• The smart contract then emits a certain amount of tokens on the blockchain of a particular application.
• After paying a subscription fee, the blockchain delegates randomly selected validators to the application, who secure it.

The validators add new blocks and validate transactions, earning rewards in SKL tokens. It is not necessary to run your validator to receive rewards: it requires a lot of expense and technical expertise. Holders can delegate their tokens to validators and receive rewards without having to run their validator node.

SKALE Live Chart

The Current price of SKALE today (as of 21/11/2023) is USD 0.066460 and the trading volume in 24 hours was USD 320,041,776. In the last 24 hours, the SKALE exchange rate has decreased by 1.40%. The current rating on CoinMarketCap is #140 and the real market cap is USD 332,419,718. The circulating supply is 5,001,811,004 SKL coins and the maximum supply is 7,000,000,000,000 SKL coins.

SKALE Fundamental and Technical Analysis

Many seriously believe that both of these types of analysis have little practical application to the cryptocurrency market. When it comes to technical analysis (TA), critics usually back up their arguments with claims about the “extremely high volatility” of digital assets, the “unlikeability” of this market, its strong exposure to news, etc.

Skale is still working to make its place in the market, and it will take some time. Technical analysis can help you make an astute decision, but if you want to understand what might happen with Skale, you need to get into the technology. 

Currently, the bullish trend in the SKALE NETWORK – SKL/USD pair is very strong. As long as the price stays above the 0.05 USD support level, you can try to capitalize on this boom. Be cautious given the strong bullish rally, exceeding it could lead to a possible correction in the short term. In this case, keep in mind that trading against the trend may be riskier. It seems more advisable to wait for a signal indicating a trend reversal. In the very short term, the overall bullish bias is confirmed by technical indicators. However, in case of excessive bullish movements, a small bearish correction may occur.

SKALE Price Prediction

SKALE Network is a project that intends to solve the scalability problem of Ethereum because there is no power in waiting for Vitalik Buterin and the company to do it. Do you want to know where SKALE will go? Read the forecasts about the project’s target price and confidence level for the next 15-20 years from well-known analytical services.

SKALE Price Prediction 2024

Price Predicton believes that in 2024 the SKL price will not overcome a maximum of $0.0401, which is significantly less than the current indicator forwarding a bearish sentiment. Gov Capital‘s forecast for the last month of 2023 is very realistic, showing that the price will remain within the current range, while the asset value is predicted at $0.098 (60.695%) 1 year from now. Digital Coin`s SKALE network price prediction for this year shows its maximum development at $0.12. 

SKALE Price Prediction 2025

The costage of 1 SKALE is anticipated to approach its maximal rank of $0.0940 as mentioned in the SKALE network price prediction 2025 published by Price Prediction. As per the Gov Capital`s SKALE coin price prediction 2025, the SKL fee will climb to 0.15295. DigitalCoin states that the coin`s rate will achieve its highest point at $0.20 in 2025. Coin Codex`s SKALE crypto price prediction 2025 is rather optimistic and signals the yearly high of SKL at $ 0.451231. SKALE value estimation for 2025 by Сrown Wisdom equals $0.120.

SKALE Price Prediction 2030

In its SKALE coin price prediction 2030 DigitalCoin names the highest position with a price of $0.58. As envisaged by Price Prediction`s experts SKALE Network has an outstanding potential to reach new heights and they foresee that SKL will hit the highest price of $0.6854.

The CoinCodex team in its SKALE network price prediction 2030 predicts a downtrend, which highlights the asset’s rate as slightly decreasing to $ 0.424902 in comparison with 2025. Crown Wisdom has a similar perception in terms of Skale Price Prediction for 2030 at the mark of $0.429. Captain Altcoin`s estimation is beaarish too with SKALE Network reaching only $0.2368 in 2030. 

SKALE Price Prediction 2040

It is not news that making such long-term forecasts in the cryptocurrency industry is a thankless task. It is impossible to predict how an asset will behave in minutes, hours, not to mention decades. However, some analytical teams do give somewhat vague forecasts for such long-term prospects. Conmarket Cap`s price forecast for 2040 confirms that SKL value will cross the 1 USD line and stop at the $1.374 mark. Captain Altcoin`s forecasting model envisages SKALE Network acquiring $0.4736 in 2040 which is less optimistic.

Conclusion

As blockchain and decentralized finance (DeFi) technology expands, popular blockchains such as Ethereum are growing at breakneck speed. This growth has led to many new DApps and scanning nodes, but network speed and efficiency remain an issue. The increase in the number of nodes has led to increased security, but blockchains are still relatively slow and expensive because each node must verify the same information. This is where SKALE will be useful. 

SKALE has several interesting features that make investing in it a good idea, such as a mechanism for swapping validator nodes that helps reduce collusion and fraud. Another notable aspect is the presence of a subscription model that provides developers with application-specific sidechains. Instead of changing the cost of gas like other Ethereum-based tier 2 services do, SKALE allows developers to use its resources for a set fee that is paid in tokens in advance (SKL). Although this initiative is young and relatively under-researched, the technologies used in this network seem very promising and are supported by industry leaders at all levels. It is safe to expect the long-term development of a network with such a strong technical base as more and more people join. This is evidenced by its names: SKALE is backed by well-known players such as Winklevoss Capital, Spartan, and others. SKALE’s partnerships and its involvement in the NFT space will drive its growth in the future. It is important to know that with the constant introduction of new useful programs and development, SKALE can reach great heights not only by the end of 2023 but also in the next 5 years.

FAQ

What factors influence cryptocurrency prices?

Cryptocurrencies vary depending on their underlying structure and use of blockchain. The growth of cryptocurrency prices is influenced by various and seemingly insignificant reasons like the tightening of regulation of the crypto sphere in China or new comments by Elon Musk. As per the research of crypto experts, changes in the price of Bitcoin have a significant impact on the prices of other cryptocurrencies, the so-called altcoins. The activity of the media, which largely determines investor sentiment, can also have an impact on the cryptocurrency exchange rate. 

The law of supply and demand is one of the main factors influencing the cryptocurrency exchange rate: the higher the demand and lower the supply, the higher the price is, and vice versa. Thus, if demand is relatively low and supply is high, the value of the asset will decrease. At the same time, unlike fiat (traditional) currencies, the supply of cryptocurrency is always limited. Therefore, the demand for it will not decrease. To find out the current rate of the main cryptocurrencies, as well as to exchange digital currency at a favorable price, you can on the website of the Godex.io crypto exchange platform.

Is SKALE a good investment?

While most cryptocurrencies such as SKALE Network were not intended to be investments, they are becoming trendy among traditional traders. Investing in SKALE Network can be a great way to hedge existing portfolios, but can be extremely risky even during periods of low market volatility. Numerous studies have shown that most market timing traders underperform compared to investors who buy and hold a diversified portfolio over the long term. In addition, the costs associated with frequent trading can lead to lower returns. Some investors and traders attempt to use market timing as part of their overall investment strategy, seeking to maximize returns and minimize losses. For those who try to guess market timing, it is important to understand the risks involved, have a well-thought-out investment plan, and be prepared for the possible consequences of incorrect predictions.

How much can SKALE be worth?

In terms of pricing, SKALE Network has a tremendous opportunity to soar to new heights. It is expected that the value of SKL will rise. According to certain specialists and financial analysts, SKALE Network overcome the 1 USD mark or even reach a high of $9.34 by 2031.

The future of SKALE Network is highly dependent on the overall performance of the crypto industry. When it comes to investing in SKL, you need to make sure that you are using a sound strategy. This type of investment is not suitable for those who have an asymmetric hazard profile. However, it is a great investment for those who have a high-risk tolerance and a stable financial position. Beyond its speculative nature, SKL also offers participation in global technology and an ever-evolving ecosystem.

How can I make informed decisions about SKALE investments?

SKALE will become popular in the cryptocurrency industry, especially for developers to create blockchain products on a scalable protocol, so the price of SKL has every chance to grow. It is also worth remembering that SKALE is a project with a long-term perspective, the peak of development of which may come in a few years, so we recommend being cautious about long-term investments. To make informed decisions, it is necessary to keep abreast of the latest news, market trends, and changes in the regulatory framework of the cryptocurrency market. Users should carefully read the specifications of the electronic platform and traded instruments on which SKALE is purchased. On our exchange hub, you can easily exchange SKALE for other coins (the service supports more than 300 assets) safely, in a fast format, and anonymously. On top of everything else, you will verify all the benefits of the frozen rate of conversion.

Can I rely on price prediction tools or algorithms for SKALE?

The high volatility of cryptocurrencies allows traders to make good money on price fluctuations, but relying solely on luck or intuition in trading is a bad idea. A trader needs to constantly analyze the market. Fortunately, there are several methods of analyzing the market today. Both fundamental and technical analysis are quite applicable to any market, and cryptocurrencies are no exception. On the other hand, this market still has some specifics. No one knows where the asset will stop. Experienced traders do not catch “knives” in the markets, and do not work against its movement. When a trend reverses, it “exhales” slowly, and this is most often the correct reversal point, which resembles the bottom of a cup or a cap on the other side.

There is no one-size-fits-all methodology to infallibly identify the bottom and peak. Even market professionals make mistakes. To feel market trends you need to study an asset, look at its movements in the past, what provoked its rise, and what provoked its fall. Usually, positive news about technological development, upcoming upgrades, and cooperation with major players in traditional financial services provoke a rise in the exchange rate, while reports about hacker attacks, thefts, and code vulnerabilities provoke a fall in the exchange rate.

Disclaimer: Please keep in mind that the content of this article is not financial or investing advice. The information provided is the author’s opinion only and should not be considered as direct recommendations for trading or investment. Any article reader or website visitor should consider multiple viewpoints and become familiar with all local regulations before cryptocurrency investment. We do not make any warranties about reliability and accuracy of this information.