AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
Highlights
- The token’s maximum supply is 7 billion, and the current circulating supply is 3.22 billion.
- Its all-time high price was US$1.22, registered in March 2021.
- Jack O’Holleran and Stan Kladko co-founded the SKALE Network.
The SKALE Network (SKL) token surged over 22%, while its trading volume increased by more than 289% in the last 24 hours to Friday afternoon for no apparent reason.
What is SKALE Network (SKL)?
Skale is designed to provide scalability to the Ethereum network. It is a decentralized project that aims to boost transaction capacity while reducing latency and costs.
The company aims to facilitate building DApps in a "decentralized modular cloud" made for real-world requirements like payments. It emphasizes security in its operations.
Also Read: Direct Digital Holdings, Inc. (DRCT) prices IPO, set for Nasdaq debut
People can run Solidity smart contracts faster and at a fraction of the mainnet cost on the platform. It also has gaming and content streaming projects.
Jack O'Holleran and Stan Kladko co-founded the network. Jack serves as the CEO.
SKL is the native token of the platform. Its total supply is 4.27 billion, the maximum supply is 7 billion, and the current circulating supply is 3.22 billion.
Also Read: Zillow (ZG) stock roars higher after plans to replace home-flipping business
Source: *Data provided by CoinMarketCap.com
Also Read: From FB, TWTR, SNAP to BMBL, top social media stocks to watch
SKL token: Price and performance
The token was priced at US$0.1746 at 12:48 pm ET on February 11, up 22.69%. Its trading volume in the last 24 hours to Friday afternoon was US$150.38 billion, up 289.77%.
It has a market cap of US$561.44 million, and its fully diluted market cap is US$1.22 billion. The token’s price declined by 49.53% in the past 12 months.
The SKL token saw the highest price of US$1.22 and the lowest price of US$0.09504 in the last 52 weeks. It reached an all-time high of US$1.22 on March 12, 2021.
Also Read: Is BlackRock, Inc (BLK) planning crypto trading services?
Bottomline
The SKL token is available on exchanges like Huobi, Binance, Uniswap, etc. The crypto market saw solid gains over the past two years. This year, though, it remained subdued. The crypto market is volatile; investors should apply due diligence before investing in digital assets.
