SKALE has been rising quite aggressively, with a big pump of 32% in the last 24 hours, and it's a bit hard to grasp what's going on now. What’s driving this? The media IP It Remains is going on-chain, collaborating with SKALE to create some Web3 interactive experiences, aiming to turn the audience into participants.

The data is indeed interesting: the daily trading volume surged by 2700%, breaking $279 million, and the market cap soared to $170 million. But let's clarify - the SKALE token is currently at $0.032, which is still a long way from its historical peak of $1.22 in 2021. This rebound mainly pulled up from a low of $0.00159, and while the rise looks impressive, the market cap is still significant.

Interestingly, on-chain data does show signs of activity: 3.09 million active wallets and 680 million transactions. This indicates that the ecosystem is indeed thriving and not just empty talk. The integration of this gasless chain design logic by It Remains also makes sense—games and AI applications do require low-cost interactions.

But we have to be rational: the token supply is 594 million SKL, and the fully diluted market value is said to be 19.97 billion. This number is a bit questionable, and one has to calculate where the space is. It all depends on whether this collaboration, It Remains, can really retain users.