180 days of GLX staking reward to go
There is still a decent chunk of time to receive GLX staking reward with up to 180 days left to receive reward. At the time of writing, the APR for staking is still slightly above 100% but I reckon it is only a matter of time until the APR drops below the 100% mark.
Even at 100%, I'd say the APR is still pretty high and most investors will be looking at the token as an easy opportunity to squeeze out some profit. If I wasn't in a tight situation, I'd probably have been pushing for 200K GLX token by now but I have some personal targets I'm chasing that will mandate selling off some of my tokens.
In any case, I still expect the GLX to drop well below 100% before the end of the 180-day period. I can't put an exact figure on it but I believe that we'll reach an equilibrium point when the APR stops dropping and the GLX trading activity reaches some level of equilibrium.
Right now, the price of GLX is rather low and that has probably been the driving force that's pushing investors to stake more of the token. Data shows that there's somewhere around a 37 million gap between staking and liquid GLX, in favour of staking.
This gap is indicative of the times more than anything else. The APR is still high and I reckon many top investors would be selling for a loss if they sell at this level, so there won't be that much GLX kept liquid.
The difference between staked and unstaked GLX will start approaching equilibrium when the APR drops significantly. I believe the drop in the APR will lead to capital flight, which in turn will momentarily tank the price of GLX token in the process.
Early investors will have most likely stacked enough to recoup the losses since inception and then some. This will enable them to sell GLX and watch the show, as the gaming platform evolves.
Another thing to keep in mind is that pack staking reward will be ending in the next 22 days and when that happens, people will be looking for what to do with their packs. Now, the way I see it, selling the packs and reinvesting into GLX might better serve investors than just holding.
Of course, the value of packs will almost certainly be influenced when the game is launched but we don't know what extent it will go. Assuming the game is launched before the end of the pack staking reward period, then the price of packs won't tank hard when staking reward ends.
On the other hand, if the launch of the game comes long after pack staking reward has ended, it is safe to assume that the price of packs will plummet and so, selling before the end of the period might be the way to go.
Opening packs might also be an avenue to trap some value but considering how slow sales of NFTs has been lately, it is not advisable to even bother. Then again, all of this could change if the game is launched and there's renewed enthusiasm.
We'll just have to wait and see how things proceed but for now though, your best bet is to keep calm and hodl.
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