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SKALE Price Prediction 2024: Can GameXPad Partnership Boost SKL?

Last Updated February 27, 2024 12:45 PM
Peter Henn
Last Updated February 27, 2024 12:45 PM

Key Takeaways

  • The SKALE platform has teamed up with GameXPad to boost gaming experience.
  • Can SKL return to the levels it enjoyed in 2021?
  • One price prediction says it may reach $0.24 next year.

SKALE has announced  a partnership with GameXPad, promising to merge blockchain technology with gaming experiences. Its platform aims to create a vibrant ecosystem where gamers, developers, and investors flourish together.

This strategic partnership potentially elevates GameXPad to new heights of efficiency and user satisfaction. SKALE’s blockchain network, boasting zero gas fees and instant transaction finality, aligns with the system’s mission to deliver seamless and cost-effective gaming experiences.

Will this partnership boost SKALE’s SKL native token?

SKALE did not immediately respond to a request for comment.

But what is SKALE (SKL)? How does SKALE work? Let’s see what we can find out, and also take a look at some of the SKALE Price Predictions that were being made as of February 27, 2024.

SKALE Price Prediction

With that all said and done, let’s examine some of the SKALE price predictions being made on February 27, 2024. It is crucial to bear in mind that price forecasts, particularly for a potentially volatile asset like cryptocurrency, often turn out to be inaccurate. Additionally, please remember that many long-term crypto price predictions are generated using algorithms, which means they can change at any time.

2024 2025 2030
Prediction #1 $0.21 $0.24 $0.69
Prediction #2 $0.1298 $0.1766 $0.3796
Prediction #3 $0.0559 $0.0834 $0.5803

First, CoinCodex  had a short-term SKALE price prediction that saw the token drop to $0.085872 by March 2 before recovering to $ 0.102043 by March 28. The site’s technical analysis was bullish, with 26 indicators sending encouraging signals and just two making bearish ones.

SKALE Forecast for 2024

In terms of other SKALE price predictions for 2024, DigitalCoinPrice  said it would get to $0.21. CaptainAltCoin  saw SKL going to $0.1298 in December. PricePrediction.net  thought the token would trade at $0.0559 this year. 

SKALE Forecast for 2025

CaptainAltCoin made a SKALE price prediction for 2025 that saw the token hit $0.1766 while DigitalCoinPrice thought it would trade at $0.24. PricePrediction.net thought it would be worth $0.0834 next year.

SKALE Forecast for 2030

Moving onto a more long-term SKALE price prediction for 2030, PricePrediction.net said the token would hit $0.5803 while CaptainAltCoin thought it would be worth $0.3796. DigitalCoinPrice had a SKL price prediction that saw it reach $0.69 at the start of the next decade. 

Google Gemini AI Price Prediction for SKALE (as of February 27)

Google’s Gemini AI platform gave the following price prediction for SKALE on February 27. Please remember that the exact price prediction of an asset or cryptocurrency in the future is nearly impossible to achieve. Additionally, artificial intelligent price predictions are predicated on past performances and are in no way entirely accurate.

Short Term (Next 3 months)

  • Expected price: $0.0953
  • Factors to Consider:
    • Overall market conditions: The price of SKALE is likely to be influenced by the overall health of the cryptocurrency market.
    • News and events: Any major news or events related to SKALE or the blockchain industry could affect the price.
    • Adoption and development: The wider adoption and development of the SKALE network could lead to an increase in price.

Medium Term (Next 6 months)

  • Expected price: $0.1372
  • Factors to Consider:
    • Overall market trends: The broader cryptocurrency market sentiment significantly impacts individual token prices. If the overall market experiences a bullish trend, SKALE’s price might rise alongside it, and vice versa.
    • Developments within the Skale Network: Any significant news or developments related to the network’s technology, partnerships, or adoption could potentially influence its price.
    • Regulatory landscape: Regulatory changes and uncertainties surrounding cryptocurrencies can create market volatility and affect SKALE’s price.

Long Term (Next 5 years)

  • Expected price: $0.119356
  • Factors to Consider:
    • Market sentiment: Overall positive or negative outlook on the cryptocurrency market can significantly impact individual token prices.
    • Regulations: Government regulations and policies can significantly impact the adoption and use of cryptocurrencies.
    • Technological advancements: Innovations and advancements in blockchain technology can impact the usability and value proposition of specific cryptocurrencies.
    • Adoption and usage: Increased adoption and use of SKALE for its intended purposes can drive up demand and potentially increase its price.

SKL Price History

Now, let’s take a look at the SKALE price history . While we should never take past performance as an indicator of future results, knowing what the token has achieved can provide us with some very useful context if we want to make or interpret a SKALE price prediction.

SKALE first came onto the open market in December 2020, when it closed the year at $0.079. It responded well to a blossoming crypto market in early 2021, and it reached an all-time high of $1.22 on March 12.

SKALE then dropped, falling below $0.20 in July, before enjoying a recovery to over $0.40 in September before going down again to trade at $0.2027 on December 31. This meant that SKL rose by more than 155% year-on-year.

The downturn continued in 2022. Despite a spike seeing it rise above $0.40 in early April, a series of market crashes saw SKL reach an all-time low of $0.01964 on New Year’s Eve. This meant the token suffered an annual loss of more than 90%.

SKALE in 2023 and 2024

Things got a little bit better in 2023. The token went up to $0.06537 on February 20. It then fell down, suffering in the wake of July’s news that the United States Securities and Exchange Commission (SEC) was suing the Binance and Coinbase Exchanges. Once Crypto.com suspended its US institutional operations on June 10, SKL dropped to a low of $0.02303.

There was something of a recovery after that, and SKL traded at $0.03009 on July 14. Since then, though, it has struggled and, on August 1 2023 it was worth about $0.0271.

SKALE price history
SKALE price in 2023 and 2024 | Credit: CoinMarketCap

It then ended 2023 at $0.06809 and went on a rollercoaster in the first two months of 2024, reaching $0.09384 on February 27, 2024.

At that time, there were about 5.16 billion SKL in circulation, out of a total supply of 5.45 billion. This gave the token a market cap of 482.2 million, making it the 139th largest crypto by that metric. 

Is SKALE a Good Investment?

It is hard to say. The news that it has teamed up with GameXPad could bring it to more people’s attention.

On the other hand, SKL has been stuck in a rut, and it could be argued that SKALE is a classic case of a crypto platform trying to do too much and not focusing on one thing. 

As ever with crypto, you will need to make sure you do your own research before deciding whether or not to invest in SKL.

Will SKALE go up or down?

No one can really tell right now. While the SKALE crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind, too, that prices can, and do, go down as well as up. 

Should I invest in SKALE?

Before you decide whether or not to invest in SKALE, you will have to do your own research, not only on SKL, but on other, related, coins and tokens such as Optimism (OP) or Arbitrum (ARB). Either way, you will also need to make sure that you never invest more money than you can afford to lose.

SKALE (SKL) Explained

SKALE  is designed to help people develop their own sidechains and decentralized applications (dApps) on the Ethereum (ETH) blockchain.

The system is, in effect, a kind of enhanced layer 2 scaling solution. This means that one of the things it does is take transactions off Ethereum, carry them out, and then put them back on the blockchain. 

Skale, which was founded in 2020 by computer scientists Stan Kladko and Jack O’Halloren,  is supported by its native token, which goes by the ticker handle SKL. 

How SKALE Works

Skale uses a series of sidechains, operated by computers, or nodes. These chains are linked to a series of smart contracts, computer programs which automatically execute once certain conditions are met. Developers can set up their dApps on sidechains. 

SKL is used to pay for sidechains for dApps. It also pays for nodes and is used to reward node operators. Holders can vote on changes to the network, and it can also be bought, sold, and traded on exchanges.  

It is important to note that, since SKALE is based on Ethereum, it is a token, not a coin. You might see references to such things as a SKALE coin price prediction, but these are wrong.

SKALE Attention Tracker

SKALE Google search volume
SKALE Google search volume | Credit: Google

Here is a chart for the SKALE Google search volume for the past 90 days. This represents how many times the term “SKALE SKL” has been Googled over the previous 90 days.

FAQs 

How many SKALE are there?

As of February 27, 2024, there were about 5.16 billion SKL in circulation, out of a total supply of 5.45 billion.

Will SKALE reach $1?

It might do, but maybe not for a while. PricePrediction.net says it will break past the dollar in 2032.

Keep in mind that, while SKALE has traded at more than $1, it has not done so since March 2022.

What is SKALE used for?

SKL is used to fund nodes, pay rewards, and give holders voting rights on the SKL network. It can also be bought, sold, and traded on crypto exchanges.

Disclaimer 

Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.

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