Skale Network (SKALE) is moving upwards at a fast pace. The cryptocurrency had previously been under strong bearish pressures during January as the whole crypto market was suffering. However, the recent price movements show that the token has effectively reversed its trajectory and is currently on an uptrend. At the time of writing, the token stands at a price level of $0.17. The daily price movements show that the token has surged upwards by 30% during the day – making it one of the top performers – while the trading volume has increased by more than 300%. Skale Network stands at a market rank of #123.
What is Skale Network?
Ethereum may be regarded as one of the most valuable projects in the crypto market because of its contribution to blockchain technology; however, the queen of the market suffers immensely from the problem of scalability. Skale Network is regarded to be the elastic network designed as a layer-2 for Ethereum to enable scalability for the queen of the market. The network is considered a Web 3.0 cloud which enables lightning-fast speed to Ethereum and equip developers to build decentralized applications with the services of Ethereum, combined with its speed at a fraction of the cost. Skale considers itself to provide 1000 times the speed to Ethereum developers. It also provides some futuristic features like pooled security, customization, on-chain storage, and more.
What can you expect from SKALE?
The value proposition of Skale Network is, without any doubt, very valuable to the market especially since scalability is not just a major issue of Ethereum but of many similar blockchains. Moreover, the network does not compromise on decentralization at all. The network also disclosed that it will soon be integrated by one of the leading dApps platforms, DappRadar. The current surge of the token can last for a while as it has a bullish outlook. According to the estimates of Digital Coin Price, the token is expected to experience growth over the years. Their estimates suggest that Skale Network will cross $1 in the long term. Another analytics’ website the potential return on investment at 1000% by 2030 as the price is suggested to be over $4.
If you are looking to diversify your crypto portfolio then Skale Network may be an ideal bet – especially with the current surge and the future outlook of the token.
