Bybit Arbitrage is a trading tool that simplifies arbitrage trading by capitalizing on funding rate and price differences.

If you're seeking consistent returns with minimal risk, Bybit Arbitrage is the perfect ally.

 This robust tool empowers you to generate regular profits with minimal risks by capitalizing on price disparities across different markets. Its user-friendly interface lets you easily spot and exploit these differences, so that you can execute flawless arbitrage trading in the crypto market with confidence. Read on to learn how Bybit Arbitrage makes arbitrage trading an effortless way for you to achieve low-risk gains.

 is the buying and selling of the same or similar asset(s) at the same time across different markets to earn from slight price deviations. This act of purchasing an asset at a fixed price — while simultaneously selling it at a higher price — allows a trader to instantly make profits without any risks. 

While arbitrage trading has long been a staple in traditional financial markets, such as stock and forex, the advent of crypto trading has propelled arbitrage trading to new heights — thanks to the heightened volatility of the crypto market. Additionally, unlike traditional stock markets, crypto markets are traded 24/7, offering more opportunities for arbitrage traders to reap profits from the price gaps across exchanges and markets. 

 across exchanges or within a single exchange. Keep in mind that if you opt to arbitrage trade across different platforms, accessing your profits may prove to be complex, due to the need to transfer your assets between the exchanges, which can take up to several days to complete. On the other hand, arbitrage trading on a single platform is more straightforward — but more competitive as well.

There are multiple arbitrage trading strategies, but the most common ones in the crypto market include funding rates arbitrage, spot-futures arbitrage and futures arbitrage. 

Funding rates arbitrage allows traders to profit from variations in funding rates between 

 contracts. In contrast, spot-futures arbitrage enables traders to profit from price disparities between the spot and 

 for the same asset. Meanwhile, futures arbitrage involves profiting from price discrepancies between futures contracts with different expiration dates.

Bybit Arbitrage is a trading tool that helps traders identify arbitrage trading opportunities in two ways: funding rate and spread. 

The user-friendly interface organizes trading pairs based on either funding rates or spreads in different markets, so that traders can easily spot disparities in funding rate or price across the markets at a glance. 

Bybit Arbitrage is exclusively available to 

 mode. It facilitates arbitrage trading for USDT Perpetual, USDC Perpetual and USDC Futures contracts, thereby allowing you to enjoy arbitrage trading opportunities between USDT 

Spot pairs and USDT Perpetual pairs, or USDC Spot pairs and USDC Perpetual/Futures pairs. 

The Funding Rate Arbitrage feature exploits differences in funding rates between the Spot and Perpetual/Futures markets on the Bybit exchange. With the Funding Rate feature, traders can earn funding fees while simultaneously managing their positions in order to minimize potential losses and maximize gains through positive and negative arbitrage strategies.

Funding rates for the different trading pairs are listed in descending order. This helps traders to easily leverage the interest rate differential between Spot and Perpetual/Futures contracts.

The Funding Rate feature also allows you to 

 orders (with the same amount, but in different directions) in both Spot and Perpetual/Futures, which enables you to earn funding fees while mitigating potential losses (with potential gains).

holders in Futures/Perpetual contracts pay short position holders. You can leverage this situation by executing a positive arbitrage, which involves

 buying a Spot pair and taking a short position in 

Perpetual to earn steady funding fees. Alternatively, if the funding fee is negative, short position holders pay long position holders. In this case, you would perform a negative arbitrage by shorting a Spot pair and going long in a 

The Spread Arbitrage feature helps traders capitalize on price discrepancies between different markets for the same cryptocurrency asset. With this feature, you can easily compare the market prices of an asset traded across various trading pairs and contracts. While Spread Arbitrage may be similar to spot-futures arbitrage, it offers more arbitrage opportunities since it covers a broader range of markets, unlike spot-futures arbitrage, which targets specific markets

With Spread Arbitrage, the aim is to profit from the eventual price convergence as you buy the crypto asset at a lower price in one market (e.g., Spot) and sell it at a higher price in another market (e.g., Futures). 

As the futures price will eventually align with the Spot price when the contract expires, you’ll be able to take advantage of the simultaneous price disparity for the same asset.

In order to trade with Bybit Arbitrage, you’ll first need to 

. Currently, Bybit Arbitrage is exclusively accessible via the 

 for the web version, which will be launched soon!

Bybit Arbitrage offers multiple advantages.

Bybit Arbitrage is a powerful tool for traders seeking low-risk gains in the volatile crypto market. With its intuitive interface and exclusive features, traders can effectively leverage funding rate and price differences to maximize profits while minimizing risks. Bybit Arbitrage offers diverse benefits that make arbitrage trading more accessible and profitable than ever before.

Beginner

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How to Use Bybit Arbitrage to Achieve Funding Rate and Price Difference Arbitrage

An Ethereum Spot ETF is an exchange-traded fund that tracks the real-time price of Ether and allows investment through traditional stock markets. Learn more.

Earlier this year, the U.S. Securities and Exchange Commission (SEC) gave the green light to a number of Bitcoin Spot exchange-traded funds (

), sparking optimism that similar approval might be extended to Ethereum Spot ETFs. Adding to the excitement, news of Ethereum Spot ETF approval in Asia’s first region has heightened anticipation for a potential approval and launch in the U.S. However, despite the buzz, some industry observers remain skeptical. This article explores the potential impact of Ethereum Spot ETF approval on the broader crypto market.

An Ethereum Spot ETF is an exchange-traded fund that tracks the real-time price of 

 and allows investment through traditional stock markets. It offers investors a way to invest in Ether without having to actually buy or hold the asset itself.

An Ethereum Spot ETF operates by pooling investor funds to purchase Ether, which is held in reserves by the ETF.

Rather than navigating the complexities of 

 and exchanges, investors buy shares of the ETF through regular brokerage accounts, just as they would with traditional stocks. These shares represent a stake in the Ether held by the ETF, providing a simple and regulated way to own Ethereum indirectly.

In order to create ETF shares, authorized participants — usually financial institutions — purchase Ether in exchange for ETF shares of equal value, which are then sold onto the market. An authorized participant can also redeem shares by buying enough ETF shares and exchanging them for Spot Ether and taking those shares away from the market.

As a result, the price of ETF shares tends to fluctuate in line with Ethereum's Spot market price. If it didn’t, there would be an 

 opportunity to profit from any mispricings in the ETF price. However, it’s still theoretically possible for the ETF to trade at different prices simply because of supply-and-demand factors.

ETFs as securities are regulated by the SEC, so an Ethereum Spot ETF provides a regulated product that investors can purchase. By contrast, Spot Ether is being investigated by the SEC to determine whether it should be classified as a security, and currently lacks regulatory clarity. 

This setup offers numerous benefits for investors. It simplifies the investment process, allowing anyone with a brokerage account to invest in Ethereum without setting up a crypto exchange account or managing storage. This can save time and give some investors greater peace of mind. An ETF structure also provides the regulatory clarity that institutional investors need, which can enhance liquidity and trading volumes.

Security is paramount in the realm of cryptocurrency, and the ETF provider takes it seriously. To safeguard Ether holdings, ETF providers employ a combination of 

 and insured custodial services. As a result, they could potentially minimize the risk of theft or loss that individual crypto investors may encounter.

The Ethereum Spot ETF bridges traditional finance (TradFi) and the exciting (but still growing) cryptocurrency space. It offers the security and ease of trading associated with traditional financial markets while opening up investment opportunities in Ethereum for a broader audience.

Both excitement and regulatory scrutiny characterize the current landscape of Ethereum Spot ETFs. Major financial institutions like 

 and Fidelity have submitted applications for these ETFs to the SEC. Still, decisions have been delayed, with the next 

If applicants begin updating their filings by April, this may indicate they’re incorporating feedback from the regulator, which could be interpreted as a positive sign. However, a lack of updates to filings could indicate that the SEC isn’t maintaining the same level of discussions with issuers that led to its 

Another challenge is that the SEC is still investigating whether Ether should be classified as a security, especially since it transferred its consensus mechanism to 

. Earning rewards through staking could meet criteria that determine whether an asset is a security. Ethereum also provides a foundation for 

 (DeFi), which could add to the complexity of the review. 

Analysts' opinions vary regarding the likelihood of ETH ETF approval. One Bloomberg analyst, for instance, 

 chance of approval by May. However, the SEC's recent silence might hint at a less favorable outcome.

The approval of Ethereum Spot ETFs is eagerly awaited because it could mirror the impact of Bitcoin Spot ETF approval, which led to an influx of capital in the market. It would mark a pivotal milestone, likely to attract increased investment and further validate cryptocurrency. The crypto community is closely monitoring these developments, as the coming months will be crucial in shaping the future of Ethereum investment opportunities.

 was recently given to the first Spot Bitcoin and Ethereum ETFs in one of the Asian regions. This landmark decision positions the city as a trailblazer in the Asian financial landscape, embracing the integration of popular cryptocurrencies into mainstream investment avenues.

This milestone has sparked excitement within the crypto community, indicating a positive reception toward digital assets in that region. Analysts believe this move could set a precedent for other jurisdictions to follow, potentially leading to broader acceptance and recognition of cryptocurrencies as a legitimate asset class.

These newly approved ETFs are expected to attract a wave of fresh investors — both retail and institutional — by offering a regulated and familiar investment option for exposure to cryptocurrencies. This growth of interest could increase stability in the crypto markets, possibly influencing the price movements of Bitcoin and Ethereum in the region.

The timing of this approval is noteworthy, considering that the U.S. could also be on the cusp of approval of an Ethereum Spot ETF. If this proactive approach inspires other financial centers beyond the U.S. to consider similar approvals, it will palpably contribute to the global expansion and maturation of the cryptocurrency market.

Current Impact of Ethereum Spot ETF Applications on the Crypto Market

The buzz surrounding Ethereum Spot ETF applications is noticeably affecting the crypto market, particularly Ethereum's price and overall sentiment. Submission of new ETF applications to the SEC has coincided with an 

, pushing it to around $3,700. This uptick reflects the market's optimism and positive sentiment regarding the potential for easier access to Ethereum. However, the market has exhibited some volatility as well, with Ether dropping over 14% in a week in early April. 

Despite these fluctuations, there's a general expectation that ETF developments would significantly impact Ethereum's price dynamics, similar to what was observed with the recent Bitcoin Spot ETF approvals. Moreover, the recent approval of cryptocurrency ETFs has further fueled optimism and positive expectations for increased investment inflows and a broader recognition of cryptocurrencies.

To sum up, the current impact of Ethereum Spot ETF applications on the crypto market is marked by heightened anticipation along with some volatility. Ethereum's price is responding to changes in the regulatory landscape and the potential for broader adoption of cryptocurrency-based investment products.

What Will It Mean if an Ethereum Spot ETF Application Is Approved?

The approval of an Ethereum Spot ETF application by the SEC would mark a significant milestone for the cryptocurrency market, especially for Ethereum. Following are some of the potential benefits.

Drawing parallels to the earlier Bitcoin Spot ETF approvals, some pundits expect an initial surge in Ethereum's price following the expected announcement, reflecting renewed confidence and interest in Ether as an asset. Over the long term, Ethereum Spot ETFs could contribute to growth and stability, similar to the impact that Bitcoin Spot ETFs have had on BTC’s price.

However, there are key differences to consider. The SEC's cautious stance on Ethereum — notably because of its PoS consensus mechanism — could influence the approval process and subsequent market reactions. In addition, Ethereum's unique ecosystem, including its role in DeFi and 

, could lead to different market responses as compared to those following the Bitcoin Spot ETF approvals.

The potential approval of Ethereum Spot ETFs is a crucial turning point for the crypto market, promising easier access, increased investment and greater legitimacy. Although short-term price fluctuations may occur, the long-term effects could echo the positive growth recently witnessed with Bitcoin Spot ETFs, promoting a more mature investment environment for Ethereum.

Intermediate

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Ethereum Spot ETF Approval: Its Impact on Crypto Markets

Grayscale Investments has filed a registration statement on Form S-3 with the SEC to register shares of its Grayscale Ethereum Trust (ETHE) as part of efforts to uplist the trust to a spot Ethereum ETF on the NYSE Arca.

Daily Top Performer — Automata Network (ATA)

The SPX index is up 0.02%, investor focus on earnings and U.S. interest rates continues. The broader cryptocurrency market is down, with Bitcoin and Ether dropping by 3.78% and 2.41%, respectively in the past 24 hours.

Today’s outperformer is ATA, which jumped 8.9% after Automata launched Multi-Prover AVS on Eigenlayer Holesky Testnet to boost decentralized security.

Automata Network (ATA), founded in 2019, is a Web3 platform providing private web services for decentralized applications, focusing on secure, anonymous transactions and governance. Key features include a private voting system and MEV minimization to enhance user privacy and security. Automata's Multi-Prover AVS, which utilizes TEE Coprocessors to enhance security, is now available on the Eigenlayer Holesky testnet. This system employs the TEE Prover as a secondary security measure in decentralized systems. Operators, restakers, and developers are encouraged to learn more about this advancement on their website.

Check Out the Latest Prices, Charts, and Data of 

Grayscale Investments, the world's largest crypto asset manager, has filed a registration statement on Form S-3 with the SEC to register shares of its Grayscale Ethereum Trust (ETHE) as part of efforts to uplist the trust to a spot Ethereum ETF on the NYSE Arca. This filing follows NYSE Arca’s application and is a crucial step in the regulatory process required for offering shares continuously upon approval. The shares will not be sold until the registration is declared effective, and this offering is subject to the Securities Act of 1933. Grayscale emphasizes that the trust, not registered under the 1940 Act, involves high risk and volatility, is focused solely on Ethereum, and does not offer direct investment in Ethereum.

BlackRock's spot bitcoin ETF, IBIT, has significantly impacted the firm's overall ETF flows, comprising 24% of its total. Eric Balchunas, Bloomberg's Senior ETF Analyst, highlighted the fund's success during a panel on Hong Kong's newly approved spot crypto ETFs. Since its launch in January, IBIT has attracted consistent inflows for over 70 days, accumulating more than $18 billion in assets under management and becoming one of the most successful ETFs in history. The IBIT fund is second only to Grayscale's ETF in terms of assets but has seen remarkable trading volume along with other spot bitcoin ETFs, totaling nearly $230 billion.

Gamium, supported by Parachain Ventures, DAO Maker, and Mr. Beast among others, has its token $GMM listed on major exchanges with a fully diluted valuation of around $43M. The platform is promoting a beta points airdrop to reward early users, where participants can sign up and earn points through various activities like launching an MST, trading, daily logins, and referrals. Details on point earning and distribution are available in a dedicated blog post. However, potential users are cautioned to research due to the inherent risks associated with DeFi protocols and trading.

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Grayscale Files for SEC Registration to Convert Ethereum Trust into a Spot ETF on NYSE Arca

Sharky is a Solana-based lending and borrowing DeFi solution that utilizes NFTs as loan collateral.

Cryptocurrency lending and borrowing has always been a prominent niche of the decentralized finance (

) industry, championed by platforms like Aave (

). A much rarer variant of DeFi borrowing and lending is based on non-fungible tokens (

Sharky.fi, or simply Sharky, is a Solana-based lending and borrowing protocol that uses NFTs as collateral to facilitate the DeFi processes on the network. By putting up NFTs as collateral, users can borrow funds via short-term loans in Solana's native SOL tokens. For lenders, the platform is also a great way to earn high APY rates in just 7 to 14 days, while having their loaned funds protected by the NFTs.

Having established itself as the leader of NFT-based lending and borrowing on Solana, the Sharky project has ambitious plans to integrate two more highly popular crypto asset types — Ordinals and real-world assets (RWAs).

 (SHARK) is a lending and borrowing app on the 

 (SOL) blockchain that lets users provide NFTs as collateral to access short-term loans in SOL tokens.

 Lenders can view NFTs offered as collateral, and make loan offers secured by their preferred NFTs.

Although Sharky's public launch on the Solana mainnet dates back to April 2022, the platform operated without its 

, SHARK, for its first two years in the market. The SHARK token was eventually launched in mid-April 2024.

Using its innovative business concept, Sharky quickly established itself as the leader of NFT lending. According to the project’s team, Sharky has a 90% share of the NFT lending market on Solana and has issued more than 1.4 million NFT loans.

Following the recent launch of its SHARK token, the project aims to integrate additional crypto asset types in the future. These include 

 (RWAs). Another ambitious product type considered for future implementation on the platform is uncollateralized consumer loans.

As a lender on Sharky.fi, you can browse NFTs from a variety of collections offered on the platform and make a loan offer for potential borrowers. The collections available on Sharky include the platform's own 

 collection, Mad Labs, Solana Monkey Business (SMB), Tensorians, Namaste and more. Lenders’ offers are shown to potential borrowers on the platform, who then choose the best offer based on their borrowing needs.

The NFT provided by the borrower is used as collateral, and the lender makes their funds available in SOL tokens. Lenders earn interest on the funds, with the loan duration typically between 7 and 14 days. Interest rates, naturally, will vary depending upon on-platform activity. Usually, 

 for active loans range between 120% and 220%, though they can go up to 360%. As such, Sharky loans are an excellent way for lenders to earn some serious interest quickly. If a borrower fails to repay the loan in full, the NFT used as collateral is transferred to the lender.

For borrowers, the Sharky platform is an excellent opportunity to access SOL funds for short-term needs quickly and flexibly using their NFTs, rather than cryptocurrency, as collateral. The best part of the platform's borrowing mechanism is that you remain in possession of your NFT during the loan period as a borrower. While your NFT is used as collateral, its ownership isn't transferred to the lender while the loan is active. The ownership transfer may only happen at the end of the loan period if you fail to repay the loan in full.

Maintaining the ownership of your NFT allows you to keep using it on various DeFi and other apps for purposes such as staking or satisfying 

 eligibility requirements, among other potential uses.

Sharx is the platform's own NFT collection. One of the most popular collections used in Sharky's lending and borrowing operations, sharx is made up of 10,111 adorable shark characters. Purchasing a sharx NFT not only opens up borrowing opportunities but also entitles you to upgrade or boost your Chowder points, rewards that are used in Sharky's loyalty program. 

As a sharx holder, you're entitled to the airdrop of Sharky.fi’s governance token, SHARK, and you can also stake sharx to earn FISHY tokens.

The newly launched SHARK token is envisioned as the platform's governance asset, with a total supply of 100 million. As of the time of writing in late April 2024, only some specific details on the actual governance processes powered by SHARK are available. Thus, the token's actual use in on-platform governance is expected to be outlined in the future.

SHARK will be airdropped in two phases, with 4.25% set aside for the first phase and 3.5% for the second. Of the former, 70% is allocated to its community, with the remaining 30% is distributed to partner communities. Meanwhile, the second phase is held as a staking pool event with a lockup duration of 30 to 60 days exclusively for OG, new users and sharx holders.

 of Sharky. Unlike the brand-new SHARK token, FISHY was issued back in 2022 at the start of the platform's operations. FISHY can be earned by staking sharx NFTs, accumulating reward points and participating in Sharky's social media campaigns. The token can be used to boost sharx NFTs, which in turn can earn you additional Chowder points. FISHY also gives you access to NFT raffles and auctions held on Sharky.

The SHARK token can be bought on Bybit through a Spot pair with USDT (

). Additionally, you can also take part in Bybit's current campaigns for the token for the chance to grab a share of the 

, which includes a Token Splash event featuring 456,000 SHARK through Apr 30, 2024, 9AM UTC, and a Lucky Draw with 58,000 SHARK in rewards through Apr 30, 2024, 9:59AM UTC.

Lending and borrowing using NFTs as collateral is a novel concept that has earned Sharky leadership positions in this niche. As more platforms adopting this business model emerge, the competition in the field is likely to intensify. However, as of now, Sharky remains the absolute leader of the Solana-based NFT lending and borrowing market. 

As NFTs experience a resurgence in popularity following the post-2021 dip, DeFi solutions that make innovative use of these assets, such as Sharky, stand to benefit. Later in 2024 and beyond, we’ll likely hear more about NFTs being used as legitimate collateral in crypto finance — a new trend helped to no small degree by the Sharky platform.

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Sharky.fi (SHARK): The Decentralized Platform for Instant NFT Loans

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Altcoins

SKALE is a blockchain network that solves the scaling problem common on Ethereum-compatible blockchains. Find out exactly how it works in this article.

As cryptocurrency becomes an essential part of everyday life, the problem of scalability becomes more of an issue. Technology that works perfectly for small numbers of users may completely collapse when it has to handle thousands of transactions at once. The SKALE network hopes to solve this problem. When used correctly, SKALE has the potential to change the way congestion is handled on the 

 network offers a complex blend of various features and services. To understand what it is, you have to take a look at its overall purpose. This scaling solution essentially provides Ethereum functionality for DApps without having to operate the slow and pricey main chain. The SKALE ecosystem is made up of a variety of interconnected services, blockchains and even cryptocurrencies. SKALE partners with a variety of DeFi services, including 

 and DApps. It also has its own native cryptocurrency called SKL.

There are a lot of different working parts within the network, but the main component overall is elastic sidechains. These are independent blockchains that users can adjust to fit their specific needs. Developers can adjust these sidechains to suit various protocols, specifications, sizes and virtual machines. These SKALE sidechains can then bridge with the main Ethereum chain, or connect with each other.

The concept dates back to 2017, when co-founders 

 bonded over their interest in crypto. Both were initially trying to create DApps but ran into problems with scaling. As they discussed the problems they were dealing with, they realized that there was a major need for better scaling between Ethereum and DApps.

Kladko was the first to conceptualize the SKALE architecture, while O'Holleran was responsible for realizing the ways the network could support DApps better. The SKALE network launched officially in 2018. It got its first financial support from 

In June of 2020, SKALE was able to fully launch its first phase. This initial version of the network demonstrated the applications of elastic sidechains but didn't allow token transfers or 

 for their network, such as crypto tokens and Ethereum connectivity.

SKALE works by providing a multichain network with multiple virtualized subnodes. You can think of these additional chains as a "road" that’s used to transmit information. The main Ethereum layer gets clogged with too many transactions, so SKALE helps reduce "traffic" by building new roads. These roads connect to the main chain with a bridge that lets users transmit large blocks of data on and off the Ethereum main chain. Ultimately, this means that the SKALE network provides independent ways for people to transmit and process information. New subnodes can join the network at any time to accommodate additional users.

SKALE stands out due to the elasticity and interconnectivity of its subchains. SKALE enables developers to build sidechains that specifically suit their parameters, such as size, parent blockchain, protocols and security measures. This elasticity ensures that new sidechains are as efficient and effective as possible. The other particularly helpful part of SKALE's process is interconnectivity. While other networks only allow a bridge to the Ethereum blockchain, SKALE lets sidechains bridge with each other. This can make it simple to do things like convert an in-game coin from one DApp into a coin that can be used to purchase an NFT on another DApp.

SKALE works to lower fees for users by changing the way they’re charged for services. Traditionally, people who use DApps must pay 

 to perform any function on the Ethereum network. This can get pricey very quickly, especially when high levels of congestion increase fees. Meanwhile, SKALE only charges a monthly subscription fee. If developers choose to use SKALE sidechains to host DApps, they pay a simple, much lower fee in exchange for performing as many actions as they want off the main Ethereum network.

SKALE network is loaded with a variety of different features that make it beneficial to 

 enthusiasts. Here are some of the main reasons you might want to consider working with it..

Unlike some other scaling solutions, the SKALE network is designed specifically for Ethereum. It’s native to Ethereum and works seamlessly with all Ethereum protocols. This makes SKALE ideal for creating DApps. Users get all the security and power of Ethereum, thanks to this seamless integration.

SKALE Network uses a linear scaling system where new virtualized subnodes can create new chains for the entire network. This modular method of growth has unlimited potential. As each new node joins the network, system-wide computational power and capacity also increase.

The versatility of SKALE sidechains allows DApps to store their files on-chain. Users can store websites, applications, NFTs and 

 within the chain. This reduces the need for centralized cloud hosting platforms, so it's far more efficient. Reducing the number of times information has to move around also improves security for sensitive material.

Every chain on SKALE has immediate finality. This means that all transactions instantly become committed to the blockchain, and cannot be altered, canceled or reversed. Instant finality is useful for handling issues with 

. Instant finality also provides more security because it prevents 

All of the chains within the network share security, but they don't share performance. Any virtualized subnodes and validators can run concurrently on different chains. The nodes are randomly assigned and regularly rotated. This prevents any collusion that could impact blockchain integrity.

The network also provides some special perks to users who are willing to invest in their crypto. Their second launch phase included staking, which lets users earn interest in exchange for locking up tokens for a set amount of time. In addition to being a nice benefit for committed users, staking is also reassuring for other investors because it’s one of the leading methods of growing a cryptocurrency.

 (PoS) network doesn’t rely on energy use to mine cryptocurrency. This automatically ensures it has a lower ecological footprint. In addition to the straightforward energy savings of SKALE's mining method, it also offers additional efficiency by making it easier to perform transactions.

Of course, for many users, the biggest advantage of SKALE is that it eliminates gas fees. These can be a major challenge for DApp creators because they assign a cost to every single transaction on a network. SKALE eliminates this fee system, and instead charges a single price for the sidechain itself. This lump-sum cost is usually much cheaper than paying for each individual transaction with gas fees.

How Does SKALE provide advantages to developers interested in working with Ethereum? Here are some examples of ways creative thinkers are using the network to enhance their designs.

For one developer currently working on an 

 game, the SKALE network has been extremely useful. Card-based games typically focus on creating individualized tokens that have various levels of rarity. This can become a challenge when every single transaction has to be recorded on the main Ethereum network, because the gas fees can be astronomical (while gameplay lags).

However, this developer has started using scalable execution layers to make their gameplay smoother. They've even found that they can add gameplay that alters cards with the inclusion of armor and new powers. The network is reliable enough to handle constantly creating these new tokens, as cards change over time.

Another team building on the network is focusing on creating 

. Users select a song, play the song and then send a small payment directly to the artist. By cutting out the middleman, smart contracts on the blockchain allow open access to potentially any type of music.

In addition to saving money on fees, this playback service greatly benefits from SKALE's interconnected sidechains. Devs can use different sidechains to address different functions within their service. Ultimately, they can ensure that each component of their project gets the speed, security and storage optimization it needs.

Not all SKALE-based projects are solely technology-based. There are many ways that this technology can move into the physical world. One developer is using the network to design a service that allows artists to essentially crowdsource events. Attendees submit funds for a proposed event, and if enough funds are raised, the event proceeds. If additional people attend the event and it turns a profit, the sponsors get a payout.

This Ethereum-based blockchain model allows for extra accountability, security and convenience during the crowdfunding process. With the use of smart contracts, user funds are fully secured, and users stay informed of the effects of their sponsorship.

The SKALE network itself has an intriguing user base, but it’s also worth considering the native cryptocurrency. The SKALE token (symbol: SKL) is primarily a utility token which cannot be mined, and is instead generated intentionally. It works as a validator that allows developers to pay for an elastic sidechain, operate nodes and earn fees themselves.

SKL was initially launched with 4.14 billion coins. The total maximum supply of SKL will be 7 billion. Many of the initial coins were given to system supporters and validator communities at the time of the launch. Some of the funds have also been set aside to help with future funding, and some have been locked until 2025.

Since it was introduced in 2020, SKL has undergone a lot of changes. The coin at one point jumped to an all-time high of $1.22 in March 2021 before stabilizing at a lower price. As of August 2022, SKL has a price of $0.05771 per token and a market cap of $212 million. Though individual SKL tokens have a low price, they are still fairly trendy. 

The SKALE network has gone through many changes as it’s evolved. Instead of releasing everything at once, the developers have decided to make incremental changes through regular releases. This allows them to offer current features to users while still having time to work on later features. It also gives them the ability to test their setup and make changes as necessary.

The network launches new upgrades by first putting candidates on its testnet and then moving them to the mainnet. Past releases have added features such as Ethereum network compatibility, modular virtualized subnode architecture and token releases. The most recent release in March 2022 was particularly notable. Called the

 for its extensive range of new features, this upgrade brought extra interconnectivity, the ability to work with rollups, and additional decentralized exchange hubs.

Another upgrade was the 2021 Denali release. This upgrade was responsible for many iconic SKALE features, including:

Many are wondering what's next for SKL prices. Throughout most of 2022, the coin's price has remained mostly stable. It's primarily been holding in the $0.05 to $0.10 range, with occasional jumps to $0.30. With the coin's current direction, achieving a price of $1 in 2022 seems unlikely.

However, a close analysis of candlestick charts shows a few distinct patterns. Typically, SKL increases face resistance at price levels of $0.16, $0.27, $0.37 and $0.43. If these barriers are overcome, reaching a price of up to $0.50 seems possible. For the most part, analysts are neutral to positive on SKL. Prices seem unlikely to drop, but a drastic rise is unlikely as well.

So, if SKL is primarily a utility token, how can you even buy it? There are multiple ways to add SKL to your portfolio through crypto exchanges. For example,

 in the form of perpetual contracts. Buying the token is as simple as following these steps:

Link your debit or credit card to your account.

 button to begin searching for a crypto to buy.

Select the crypto you’d like to buy from the drop-down menu. Bybit lets users purchase BTC, ETH and USDT outright.

Enter the amount of crypto you would like to purchase and make payment for it in USD or any other fiat currency.

 tab, where you can view different crypto exchanges.

Choose a market where you can sell your current crypto to buy SKL.

 prices to buy the SKL outright, or enter your own bid with the custom amount you'll pay for your SKL.

SKL is good for those who want something stable and low-risk. It doesn't make many exciting jumps, but it isn't prone to sudden drops either. If your investment strategy is to buy into promising companies and wait for their prices to rise when they announce innovations, SKL is a good choice.

Why is SKL so dependable? Though some people use SKL strictly as a coin for trading, it also has a lot of utility within the SKALE network. This makes the coin a fairly reliable bet. As long as developers are working on the network, SKL will be desirable to own. With the network's continued development and high number of applications, SKL is likely to remain a popular utility token for quite a while.

So far, SKALE's done a great job of capitalizing on the momentum from its initial launch. Generally speaking, DeFi analysts have been pleased with SKALE’s ability to actually deliver what they promise. They had a modest start but have quickly implemented a lot of unusual and helpful features. The network continues to provide good returns for investors, and more and more developers are starting to work with their elastic sidechains.

All of this promising feedback from people involved with the network indicates that the company itself has a fairly bright future. As long as they can continue to do the excellent job they've been doing, the network will continue to improve. Its ability to assist with Ethereum network scaling and integration may end up revolutionizing the way DApps are made.

The SKALE network adds a lot of functionality and flexibility to the Ethereum blockchain. It’s especially useful for those involved in DeFi concepts like NFTs and DApps. Furthermore, native SKL tokens have some exciting potential for trading. All things considered, the SKALE network is certainly worth looking into.

SKALE (SKL): Scaling Blockchains Linearly With Zero Gas Fees

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards