GLX drops below 1.4 cents

I haven't been keeping up with activities in the crypto market but I have noticed a distinct drop in value of my assets. GLX in particular has seen a fraction of its value shed in light of the widespread dip in the crypto market.

At the time of writing, GLX is trading at 1.3 cents, which is slightly lower than the price I paid for most of the tokens in my collection. I generally consider any price below 10 cents to be in the buy range and I reckon we will be in this range for the next couple of months.

I have very little hope of any pump in the coming weeks. If anything, it is possible that the price could drop further and give potential investors opportunity to buy more tokens.

I'll be taking a step back from buying tokens because I have shifted my focus to achieving our relocation goal. Thanks to a loan I got from my brother, I won't have to sell any of my GLX tokens now but in the future, things might change.

For what it's worth, I'd hate to sell a major chunk of my GLX holding. In the worst case scenario, I'd like to sell only 20K from the 100K in my possession. However, that's assuming I don't farm out the 20K from staking reward first.

Time is of the essence

At the end of the day, much like everything in life, my chances of squeezing out something from GLX staking reward is heavily reliant on my timing. The longer it takes, the longer I can farm GLX and invariably, earn more from staking.

The only problem with delaying is that the staking APR is constantly dropping. At the time of writing, GLX staking reward is paying at 113% APR, which is still pretty decent, all things considered.

There are still 195 days of GLX staking reward to go and I reckon that the APR would have dropped significantly before it gets to the end of the period. If I were to speculate, I think the APR will be around 50% by the time the staking period is coming to an end.

I don't know what comes after the staking reward period comes to an end but I know that prior to the end, I will be pulling out most of my staked GLX and holding while figuring out my next move.

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