SKL Token Surges 34% as Technical Indicators and Bitget Funding Rate Shift Drive Volatility

SKLUSDT experienced a significant price increase of 34.02% over the last 24 hours, rising from 0.02146 to 0.02876 USDT on Binance. This surge is attributed to a combination of technical indicators, including a recent MACD bullish crossover and elevated RSI levels, as well as Bitget’s adjustment of funding rate limits for SKLUSDT perpetual futures, which aimed to better align futures and spot prices. Increased trading volume and heightened volatility have accompanied these developments, with SKALE’s 24-hour trading range reaching up to $0.03277 and volume figures varying widely across exchanges. The circulating supply stands at approximately 5.94 billion SKL tokens out of a maximum of 7 billion, and the market capitalization is reported between $119.72 million and $177.05 million.