Skale, also known as Skale Network, is a blockchain scalability platform that enables the development of smart contracts with decentralized structures. SKL coin is the native cryptocurrency of this platform.
What is Scale Network?
Skale Labs, the developer of Skale Network, was founded in 2018 by Jack O’Holleran and Stan Kladko, both with years of experience in the software industry, and is headquartered in San Francisco. Skale Labs is a blockchain scalability platform that enables high-speed consensus and decentralized applications to run smart contracts on dApps. Its developers planned and developed the SKALE network as a decentralized and elastic blockchain as a side chain to the Ethereum blockchain to provide a solution to the scalability problem of the Ethereum network.
What is SKL Coin?
SKL coin is the native cryptocurrency of the Skale platform. Using the ERC-777 standard, SKL has some functions within the network. SKL coin holders can participate in all voting within the SKALE network. Those who validate nodes within the network receive SKL for their efforts. However, in the SKALE network, the mining model has created a rewarding model based on the behavior of the node rather than the size and power of the node to differentiate it from mining pools. Rewards can be earned by staking SKL tokens in the SKALE network, which continues with a certain number of validators.
How and Where to Buy SKL?
SKL coin can be purchased through one of the crypto exchanges it is involved in. For this, you need to follow the steps below:
- Registering on an exchange: Exchanges allow users to buy and sell cryptocurrencies.
- Verifying the account: Many exchanges may require documents to verify users’ identities.
- Deposit: Money transfer via credit/debit card or wire transfer can be made to the wallet on the exchange.
- Purchasing.
- You can then sell or keep the purchased cryptocurrencies.
Skale Network Market Data
Cryptocurrency market is a market where cryptocurrencies, which are digital currencies, are bought and sold. Cryptocurrencies are executed over a network created using blockchain technology, where their transactions are recorded.
Market data includes information such as prices, volume, supply-demand balance of cryptocurrencies. This data helps crypto traders understand market trends and make their investments more informed.
Price data shows the changes in the prices of cryptocurrencies over time. This data shows how valuable cryptocurrencies are, rising or falling.
Volume data shows the amount that cryptocurrencies were traded in a given time frame. This data shows whether cryptocurrencies are popular and how it affects investor interest.
Supply-demand data shows the supply and demand of cryptocurrencies in a given time period. This data shows how the prices of cryptocurrencies are affected.
Market data is obtained from different sources such as cryptocurrency exchanges, market analysis sites. This data is often presented in charts and tabular form, allowing traders to easily understand market trends and price movements.
How Much is the Scale Supply?
The supply of cryptocurrencies refers to the total amount of that cryptocurrency. This amount is determined from the moment that cryptocurrency is created or issued and does not change. For example, the supply of Bitcoin is 21 million units.
The supply is usually calculated by a predetermined algorithm for cryptocurrencies. For example, it takes 10 years for half of the Bitcoin supply to be mined. This system allows for a gradual increase in supply and is designed to prevent price manipulation.
While there is a supply of 4.2 billion SKL coins in circulation, there are 4.9 billion Skales in total.
The calculation of the supply is done with data from the blockchain records of the cryptocurrency. This data includes all transactions from the moment that cryptocurrency was created and is used to verify the supply amount. Supply is an important factor affecting the prices of cryptocurrencies. For example, while the prices of cryptocurrencies with low supply are expected to rise, it is thought that the prices of cryptocurrencies with high supply may decrease.
What Is The Highest ATH Of SKL Coin?
SKL coin peaking may vary depending on market conditions, supply-demand balance and regulations. Because the prices of cryptocurrencies can be affected by buying and selling transactions made by short-term or long-term investors.
The highest ATH price for SKL coin was recorded as 1.22 USD on March 12, 2021.
What Is The Lowest ATL Of SKL Coin?
SKL coin’s lowest level may change depending on market conditions, supply-demand balance and regulations. The prices of cryptocurrencies can be affected as a result of buying and selling transactions made by short-term or long-term investors. The lowest ATL price for SKL coin is 0.01 USD on 31 December 2022.
Scale Network Price
The prices of cryptocurrencies are determined by the balance of supply and demand. Supply refers to the total amount of cryptocurrency and is usually determined by a predetermined algorithm. Demand refers to requests to buy or sell cryptocurrencies.
If demand is higher than supply, the price will go up. For example, if the supply of a cryptocurrency is low and demand is high, its price will rise. Conversely, when supply is high and demand is low, the price will fall.
Factors such as regulations, news, market conditions, and the psychological state of investors may also be effective in determining the price. For example, factors such as the prohibition of crypto money by countries, its exposure to regulations, negative news lower the price, while factors such as positive news, increasing the confidence of investors can increase the price.
However, since the prices of cryptocurrencies are very volatile, the determination of prices is not a certainty and can go up or down. Therefore, it is recommended to be careful when investing.
The current price of SKALE is as follows:
SCALE (SKL)
On Which Exchanges Is SKL Coin Available?
Cryptocurrency exchanges are issued by different companies or individuals. For example, Binance was founded by Changpeng Zhao and Coinbase was founded by Brian Armstrong and Fred Ehrsam. However, the establishment of exchanges is usually financed by a number of investors. Digital assets can be traded on exchanges. However, not every cryptocurrency is available on every exchange. Therefore, it is necessary to know on which exchange the crypto asset to be purchased is traded.
SKL Coin can be purchased on the following exchanges:
- Binance
- Coinbase Exchange
- KuCoin
- Bitstamp
- Gemini
- Huobi
- Gate.io
- BtcTurk
- HitBTC
- DigiFinex
