skale price prediction

SKALE Price Prediction 2022: Market Analysis and Opinions

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Feb 8, 2022
7 min reading time

The crypto space is inching closer to mainstream adoption. Every project is creating unique plans and strategies to not only stay afloat but also to dominate the market. Among the digital currencies worth considering this year is the Skale Network (SKL). 

While it’s not directly related to Bitcoin, nor is it the most popular cryptocurrency today, SKL has been around since 2019 and is causing ripples in the crypto space. Many investors are asking whether SKL is a good investment option. But first, what is SKALE? Keep reading this SKALE price prediction to learn more.

SKALE Price Prediction: Introduction

As of this writing, the Skale Network has a market cap of $438,239,273 with a 24h volume of $22,764,726. Its maximum supply currently stands at 7,000,000,000 SKL coins, while its total supply is 4,276,664,349 SKL coins. This leaves the current circulating supply at 3.22B SKL. Looking at its current price, the SKL coin sells at $0.1084, which is a drop of 4.70% in the last 24 hours. 

The Skale token is an Ethereum-based token that works to deliver scalability to the Ethereum network by increasing the transaction capacity to about 2000 per second while lowering the costs of the transaction. By offering access to the entire Ethereum ecosystem, Skale serves to effectively build and scale Ethereum-based applications. 

This SKALE price prediction is based on the technical analysis of the coin in the past few months, which could inform its future behavior too. Can it reach $3 in the coming months? Keep reading to find out more.

Skale Price Prediction: Technical Analysis

Over the past few months, the Skale network value has been decreasing gradually. At the beginning of December 2021, the price of the Skale Network stood at $0.3121 but later dropped to $0.2074 by December 15. Between this short period, the price drop was consistent even though there were several instances whereby the Skale Network Price recorded a price increase. 

By the end of December 2021, the price had further dropped to $0.2027, but the fluctuations were constant. Throughout December, the highest price recorded was on December 2, where it stood at $0.3245. The beginning of 2022 was not any different for the price of Skale Network. 

Fluctuating Value

Throughout January, the price of the Network has continued to drop drastically, with fluctuations spread across the month. The highest price recorded in January was $0.1763, which is a significant drop from the peak price recorded in December. 

In that case, the most significant trend that has been recorded by the Skale Network is the fact that it’s in constant freefall. Even though there are instances in which the price may seem to recover, it can only hold the gain for a few hours before it begins plummeting again. 

The SKL coin price is a volatile one. The constant drop in price is a clear indication that the Network is unable to recover from the drop and, therefore, its price will continue to tumble. 

Skale Price Prediction: Market Opinions

Many crypto price analysts have observed the behavior of the SKL token in the past months. Here are some of the market opinions regarding this coin:

Wallet Investor

According to Wallet Investor‘s SKALE price prediction, the price of the Skale Network will gradually reduce for the rest of the days in February and March. Compared to other existing crypto networks, the price of the SKL token will never be able to match their prices. 

Wallet Investor goes on to predict that there is a high chance that the price of the Skale network will not improve with the assurance that it may never hit the $1 mark in the coming months of 2022.

Wallet Investor - Skale price prediction
Source: Wallet Investor – Skale price prediction

Gov Capital SKL Price Prediction

The statistics of the SKL coin price, according to Gov.Capital, indicate that it has been on a downward trend for the past year since its inception. This declining trend clearly gives the market opinion that the price will continue falling in the future, throughout February and the rest of March. The best possible price at the end of March, according to Gov Capital, will stand at $0.85215.

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Captain Coin

Captain Coin presents a slightly different opinion when it comes to Skale’s price prediction. For the rest of February, Captain Coin predicts that the SKL coin price will drop to $ 0.1141. However, before this current price, the price will fluctuate with several gains during the month. The same trend is expected to show in March. However, at the end of March, the Skale price prediction is expected to show a slight gain to $ 0.1173.

Digital Coin Price

According to Digital Coin Price, there is some hope stemming out from the SKL coin price. Skale price prediction, according to this site, anticipates a slight increase at the end of the year. The closing price for the year 2022 is expected to be $0.14360019231, which is an increase from the drop Skale experienced in the past 24 hours. Generally, Digital Coin Price anticipates an increase in the price on the SKL coin at some point this year.

DigitalCoinPrice - Skale price prediction
Source: DigitalCoinPrice – Skale price prediction

Swap Space

With the same view as Digital Coin Price, Swap Space shares the same sentiment regarding Skale price prediction. According to the site, the price of SKL for the rest of the year will gradually increase and remain positive, with the possibility of it ending at $0.16. Citing Trading Network reinforces the belief that the rise may even go as high as $0.2562076 at the end of the year.

Tech News Leader

Tech News Leader is considering the efforts that Network Developers and community investors are putting into the Skale Network. Using this effort, they are concluding that the anticipated price of the SKL coin is bullish for the year 2022. By the end of 2022, it is predicted that the price will rise to $0.18. The same anticipation goes towards its future.

Source: Tech News Leader – SKL Price Prediction

Latest News and Happenings Concerning Skale

Developers of the Skale Network are anticipating improving how they will be operating. The current features include its compatibility with EVM, Pooled security with randomized node selection and frequent node rotation, On-chain file storage, and finally, High throughput with fast block times and instant finality. 

SKALE’s architecture supports an ever-expanding set of Dapp-specific chains, which makes it quick and easy to set up cost-effective, high-performance multichain that runs smart contracts compatible with Ethereum. With these adaptations in place, the Skale network is likely to gain popularity and increase in price.

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Skale Price Prediction: Verdict

Currently, it’s is almost impossible to dictate the direction in which the price of Skale Network is headed. However, with the continuous drop in price, the Skale Network is expected to continue dropping for the next several months and cannot be considered a good investment. 

Several predictions indicate the price of the Skale network will increase in the near future. However, based on the current trend in price, this cannot be assured. Skale remains a volatile investment in the crypto market. 

* The information in this article and the links provided are for general information purposes only and should not constitute any financial or investment advice. We advise you to do your own research or consult a professional before making financial decisions. Please acknowledge that we are not responsible for any loss caused by any information present on this website.
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