This is why I increased my GLX stake as dip intensifies

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The drop in the price of GLX has offered tiny money investors like myself the opportunity to steadily increase our stake in the incoming Genesis League Sports franchise. Only yesterday, I celebrated reaching 70K GLX staked and now I'm up to 80K and on my way to 90K.

As I've said on multiple occasions, this can be seen as one major step towards my 100K target. I set that target about two weeks ago when I realised that it was achievable, particularly with the general crypto market acting funny.

Even without anymore purchases, I'm certainly going to reach 100K by simply staking every GLX token I earn from here on out. However, I think that will be too slow and it will also mean I'll miss out on this relatively high APR while it persists.

So, my next target is to get the 18,500 GLX tokens I need to reach my goal but I doubt I'll be able to do it in one swoop, at the current price. However, all that could change in the blink of an eye if some of my SPlinterlands sales go through.

At the time of writing, I have around $160 worth of monsters waiting to be sold. At the current price of GLX tokens, I'll need around $148 to buy 10K tokens, and a purchase like that will be a huge step towards my 100K target.

More GLGT

Reaching 100K staked means that I'll be earning a lot more GLGT tokens now and that's an asset that I think is grossly underestimated in the game. @pokermaria has stated numerous times that considering the relatively lower supply of the token with respect to GLX token, it is very possible that this token could be the one that goes on its own local bull run first.

From the whitepaper, we know that GLGT will have unique uses in the game that will mandate players to buy the token. So, the launch of the game will not only have a positive effect on GLX but will also see demand for GLGT rise in the process.

I don't have any GLGT target, since I'm earning it from staking GLX. Also, since the game hasn't been launched yet, there's not much I can do with GLGT beyond buying packs and since I'm not buying packs right now, I might as well just cool it on that front.

Over the course of the game, we've seen the price of GLGT drop significantly to where it is today. At just around 2.4cents per token, GLGT is at its lowest point but I don't think this will be the case.

As has been observed in other blockchain games, it is not out of the ordinary for one of the secondary tokens to pump more than the main token. Also, considering the limited supply of the said token being GLGT, it is likely that we will see this happening if its use in the game increases demand.

Posted Using LeoFinance Beta

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  • peakd
  • ecency
  • hivesigner

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    Good luck to reach the 100k GLX. Once it runs to 10 Cent or even 20 Cent this would be an excellent return. 💯

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    Great strategy and I too think on the long term the game will provide a steady revenue stream the same as Splinterlands did and also that the crypto assets are yet to see a true bull run. My goal is to reach 100k GLX staked as well, but for now I am using the gained GLX to buy Scout Passes in order to open my packs and have better chances to Gold Foils.

    While I did an investment initially in 127 Packs and 1 Validator Node, my intention is to use the gains from these to cover any other investment in the game. And hopefully I will get my return on my investment which is around $1,800.

    Posted Using LeoFinance Beta

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    Are you going to open all your packs or will you leave them to continue farming GLX?

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    I think the packs staking will close in the beginning of June or something like this. Thus it is a small period for getting GLX rewards for that and I will probably open all my packs.

    Posted Using LeoFinance Beta

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    Yeah. I guess I'll just open half of the packs in my collection and take advantage of the chance to get gold foils.

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