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What is the issuance price of SKL coin?

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Jul 24, 2024 am 10:12 AM

cryptocurrencyEthereum

SKL coin issuance price is $0.07. Within the Synthetix ecosystem, SKL coins are used to pay transaction fees, earn staking rewards, and participate in governance.

What is the issuance price of SKL coin?

SKL Coin Issuance Price

SKL Coin, full name Synthetix Network Token, is the native token in the Synthetix ecosystem. It was issued at 0.07 USD.

About SKL Coin

Synthetix is a decentralized finance (DeFi) platform that allows users to create and trade synthetic assets on the Synthetix protocol that track the prices of various financial instruments such as stocks, commodities, and forex . SKL Coin plays a pivotal role in the Synthetix ecosystem, including:

Transaction Fees: Users are required to pay transaction fees when transacting on the Synthetix protocol, and these fees are partially paid for with SKL Coin.
Staking Rewards: Users can stake SKL coins to the Synthetix protocol to receive staking rewards.
Governance: SKL coin holders can participate in the governance of the Synthetix protocol and vote on changes and improvements to the protocol.

Issue Details

SKL Coin was issued through an Initial Coin Offering (IEO) in December 2019. A total of 100 million SKL coins were created and distributed as follows:

45%: Community (allocated via IEO)
30%: Synthetix team and advisors
15%: Investors
10%: Future development and operations

Current Price

As of the time of writing (March 1, 2023), the price of SKL Coin is approximately $0.11 USD. Its price has fluctuated significantly since its release, reaching a high of $2.68.

SKALE (SKL), a cryptocurrency designed to scale the Ethereum network, is currently quoted at $0.037. SKL’s price dropped a massive 16% despite trading volume reaching $26.3 million in the past 24 hours. With a total supply of 7 billion, SKL currently has a circulating supply of approximately 5.49 billion and a total market capitalization of $204 million. Technical indicators show that SKL has a relative strength index (RSI) of 33, indicating it is in oversold territory, while the moving averages are trending bearish, suggesting a further downward trend is possible in the near term. Despite its recent weakness, SKL's potential value as an Ethereum scaling solution remains noteworthy, and long-term investors will likely keep a close eye on its future performance.

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