SKALE (SKL) Price Soars: Is the Rally Sustainable?
SKALE (SKL), the utility token of the SKALE Network, witnessed a significant price surge of 145% in August. Trading volume also spiked, exceeding $900 million yesterday. However, the network's Chief Technology Officer (CTO) has expressed reservations about the sustainability of this trading activity.
SKALE's (SKL) Price Surge: Decoding the Rally
SKALE is a decentralized blockchain network comprised of independent Layer 1 chains, known as SKALE Chains. It operates as a gas-free network optimized for high-performance applications like gaming, AI, and DeFi.
After a period of decline, SKALE's momentum picked up again in August. The launch of It Remains, a dystopian transmedia franchise, on the network fueled the recent rally.
"With It Remains now live on SKALE, fans can step into a Hollywood-level transmedia universe, all without gas fees, friction, and with full creative control over how the story evolves. This partnership is a blueprint for the future of interactive entertainment."
On August 14, SKL jumped 86.21% in a single day, reaching $0.054, its highest price since February 2025. Even amidst a broader market correction, the altcoin continued to climb. Currently, SKL is trading around $0.047.
This surge has positioned SKL as a top gainer and trending coin. User engagement has also increased, with SKALE ranking as the top altcoin on LunarCrush based on social and market activity.
Concerns About Trading Volume Sustainability
Alongside the price increase, SKALE's trading volume has also seen a dramatic rise. On August 13, the daily trading volume reached $329 million. The next day, it surged by 175.08% to $905 million, a stark contrast to the typical $10 million daily volume seen earlier in the month.
At the time of writing, the trading volume stands at $856 million, with Binance and Bithumb dominating the activity. However, SKALE CTO Stan Kladko suggests that much of this trading is driven by speculative buying and selling.
Lots of people today bought SKL to immediately sell it to other people
These other people bought it to sell to yet other people.
Or bots
I hope people and bots had fun in the process :))#crypto #ethereum @FAIR_Blockchain #skale pic.twitter.com/wGZniTHMBe— Stan Kladko
(@Stan_Kladko) August 13, 2025
This raises concerns about the long-term viability of the price rally. Upcoming strategic developments surrounding FAIR, a MEV-resistant Layer 1 blockchain by SKALE, could potentially provide further positive momentum.
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