SKALE
#655
SKL
$0,003831
−4.68% (24h)
Market Cap
$23,72M
Volume 24d
$3,61M
Updated at
17:23 UTC
Price Chart
| Date | Price (USD) |
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What is SKALE?
SKALE (SKL) is the native token of the SKALE Network, an infrastructure project designed to provide scalable blockchain capabilities for applications built on Ethereum. The project was launched in 2020 and was co-founded by Jack O'Holleran and Stan Kladko. The network operates using a Proof-of-Stake (PoS) consensus mechanism, where token holders can stake SKL to help secure the network and validate transactions. Its primary function is to enable developers to run decentralized applications in a high-throughput, low-latency environment. As a Layer-2 scaling solution, SKALE exists within a category of projects aiming to enhance Ethereum's performance and capacity.
How does SKALE work?
The SKALE Network operates on a Proof-of-Stake (PoS) consensus mechanism, which is designed for security and efficiency. Validators stake SKL tokens to gain the right to run nodes and validate transactions on the network. This staking process ensures that participants have a vested interest in maintaining the network's integrity and proper operation.
Network participants, known as validators, are responsible for the core functions of the ecosystem. These validators are selected from a pool to validate transactions and secure the individual SKALE chains. The system is designed to support a large number of validator nodes to enhance decentralization and security across the network.
When a user submits a transaction, it is sent to a specific application-focused SKALE chain for processing. The validators assigned to that chain then work to confirm the transaction and add it to the chain's ledger. This architecture allows for parallel processing of transactions, which contributes to the network's ability to scale applications.
SKALE use cases
The SKL token is the native digital asset of the SKALE Network and is used for specific functions within its ecosystem. Its design integrates it directly into the network's operational and security models, making it essential for participation. The primary use cases for SKL are outlined below.
- Application Scaling: SKL is used to pay for subscriptions to access application-specific blockchains, enabling developers to build and run decentralized applications with high performance.
- Staking: Token holders can stake their SKL to participate as validators, who validate transactions, execute smart contracts, and secure the network.
- Network Security: Staking SKL contributes to the network's overall security, as validators who act maliciously risk losing their staked tokens through slashing.
SKALE tokenomics
The tokenomics of SKALE (SKL) are defined by a fixed supply model. The total maximum supply of SKL is capped at 7,000,000,000 tokens, meaning no additional tokens can be created beyond this established limit. As of current data, the circulating supply is 6,192,144,337 SKL. This fixed supply structure is a key component of the token's economic design. The SKL token is central to the network's Proof-of-Stake consensus mechanism. Participants use the token for staking to become validators or delegators, earning rewards for contributing to network security and operations. The distribution of these rewards is an integral part of the token's utility.
SKALE price history & milestones
SKALE (SKL) was introduced to the market in 2020 as the utility token for its Layer-2 scaling network. Since its launch, the token's price has experienced significant fluctuations, which is common for digital assets. The token recorded its all-time high price of $1.22 on March 12, 2021, marking its peak valuation to date. Conversely, the asset's all-time low price was registered at $0.00392219008357357 on June 20, 2026. These historical price points reflect the extremes in its trading history. Based on market capitalization, the SKALE token holds a market rank of 652, indicating its relative position within the broader cryptocurrency market. This history provides context for its performance.
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Frequently asked questions
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What is the current price of SKALE?
As of 17:23 2026-06-23, SKALE (SKL) is trading at $0,003831. Prices update every 5 minutes on this page. -
Is SKALE a good cryptocurrency to buy on Switchere?
Switchere does not provide investment advice. You can buy SKALE on Switchere; whether it's right for you depends on your own research and risk tolerance. -
Who created the SKALE Network?
The SKALE Network was co-founded by Jack O'Holleran and Stan Kladko. They established the project to address scalability challenges on the Ethereum blockchain. Their goal was to create a decentralized and configurable network of blockchains that could support applications requiring high throughput and low transaction costs, thereby expanding the capabilities of decentralized applications. -
What was the highest price of SKL?
The all-time high price for SKALE (SKL) was $1.22, a milestone reached on March 12, 2021. This value represents the peak market price the token has achieved since its introduction. The price of any digital asset is subject to market dynamics and can change based on a wide range of factors. -
Where can I buy SKALE?
You can buy SKALE on Switchere using a wide range of payment methods including credit cards, debit cards, Apple Pay, Google Pay, SEPA bank transfers, and supported digital wallets. The process typically completes within a few minutes after identity verification. -
Can I buy SKALE with a credit card?
Yes. Switchere supports SKALE purchases with Visa and Mastercard credit and debit cards. Card payments are protected by 3D Secure authentication and typically settle to your Switchere wallet within a few minutes of approval.
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