SKALE (SKL), the native utility token of the SKALE Network, has experienced a remarkable 145% price surge in August. Furthermore, its trading volume exceeded $900 million yesterday, marking a major milestone.
Amid this surge, SKALE’s Chief Technology Officer (CTO) has raised concerns about the sustainability of the trading behavior.
SKALE’s (SKL) Price Surges in August: Here’s Why
For context, SKALE is a decentralized blockchain network composed of Layer 1 chains, known as SKALE Chains, that function independently. It is a gas-free network designed for high-performance use cases such as gaming, artificial intelligence (AI), and decentralized finance (DeFi).
While the network has been around for years, its journey in 2025 was marked by continuous declines. However, the momentum was revived in August.
BeInCrypto Markets data showed that the price saw a modest recovery initially. However, the rally amplified this week as It Remains, a dystopian transmedia franchise, launched on the network.
“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,” the announcement read.
As momentum built, SKL surged 86.21% in a day to reach $0.054 on August 14. This marked its highest price since February 2025.
The altcoin also defied a broader market correction and was up 37.22% over the past day. At the time of writing, SKL traded at $0.047.
The appreciation has made SKL one of the top gainers and trending coins on CoinGecko. Furthermore, SKALE’s popularity is further evidenced by an uptick in user engagement.
In a post on X (formerly Twitter), LunarCrush revealed that SKALE is the top altcoin on its platform in terms of social and market activity.
Why Is SKALE’s Rising Trading Volume a Concern?
Meanwhile, besides price and popularity, SKL also experienced a rise in trading activity. The daily trading volume surged to $329 million on August 13.
Furthermore, it saw a 175.08% increase and reached $905 million the next day. This marked a massive shift from the typical daily volume of around $10 million for most of this month.
At press time, the trading volume was recorded at $856 million, with Binance and Bithumb accounting for most of it. Nonetheless, SKAE CTO, Stan Kladko, pointed out that most SKL trading recently has been driven by speculative buying and selling.
This raises doubts about the long-term sustainability of the price rally and the stability of SKL’s value. Furthermore, BeInCrypto highlighted several signs suggesting that the rally may likely face a cooldown.
Nonetheless, upcoming strategic developments surrounding FAIR, a MEV-resistant Layer 1 blockchain by SKALE, could drive positive momentum. The network is currently accepting requests from users to join the waitlist.
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