50K GLX staked and buying the dip

avatar

image.png

After some months of accumulation, I've finally reached and crossed 50K staked GLX tokens. It is quite the milestone in my journey to 100K and despite the state of the market, I'm still quite pleased.

Reaching 50K GLX staked has required making sacrifices and investing at a time when the crypto market stuttered. It has involved accumulating a lot of unrealised losses and hodling through pain but I pushed through.

At the time of writing, GLX is trading at 1.6 cents and the signs are that there will be further dips along the way. It is not the way I want it but at the same time, it is what I expected it to be at this time.

The current price of GLX token has made it a bit easier for me to pick up tiny amounts of the token off the market, whenever the opportunity presents itself. I will need to add more tokens to my collection while also staking everything I earn to stand a chance of reaching my 100K target.

The dip deepens

No matter how low the price gets, it seems like there's still a lower low on the horizon. The general crypto market has been rough but the problems GLX is facing, in terms of price action, is mostly due to a high level of dumping by investors that bought validator nodes.

I've been squeezing out funds from my post rewards and SPlinterlands sales to buy as much GLX as I can. I have to move as fast as I can because of the fact that the staking APR is constantly reducing and there's also very limited time to continue earning from staking GLX.

There's very little chance of a GLX pump but my hunch is that any hope of a pump will rely on the development of the game. I believe that the quality of the finished product that is sent out to the general public will play a huge role in determining the direction that the price of the token will take.

At the end of the staking period, I will continue holding my accumulated GLX token but I will sell anything on top of the 100k target. This is also one reason why I am trying to aggressively chase this target.

Considering how the price has continued to dip with the odds, would it be better to just pause purchasing now and see how low the price will be. In a couple of days, I could accumulate a small amount of HBD that could do more when GLX token dips further.

Posted Using LeoFinance Beta

glx splinterlands hive hive-engine oneup neoxian proofofbrain vyb leofinance
0
0
0.000
7 comments
avatar

Good job accumulating GLX, I just made it to 1K staked, a much smaller goal. I also think GLX will eventually find its value once the game is released. Everyone buying cheap now will be happier later, it just takes patience.

0
0
0.000
Reply
avatar

It's going to require a lot of patience, at this rate.

0
0
0.000
Reply
avatar

For some weeks, I was selling part of my earnings, but now that I see that the price is very low, I decided to stake all of it.

I'm close to reaching 10K GLX in stake.

image.png

Posted Using LeoFinance Beta

0
0
0.000
Reply
avatar

Nice. One step at a time. My goal is to reach 100k Asap.

0
0
0.000
Reply
avatar
0
0
0.000
Reply
avatar
(Edited)

Yeah it probably is. I just read it and it's sad but I'm not too surprised. People found a massive loophole and exploited it, now we're all paying for it. Very sad but the most important thing is that a lesson is learned

0
0
0.000
Reply