What is happening to GLX?

GLX and the game's ecosystem are in a very bad place right now. Perhaps I might be reading too much into the situation but I have to say, things aren't looking good.

The last time I checked, the price of GLX token was trading at $0.004 and looked like plunging further into the abyss. It is once again a reminder of the general state of the market and where things are in general.

There's still a bit of GLX left in my wallet that I kept aside in the event of a pump. considering that I am neck deep in debt, I will be hoping that the market swings in my favour soon.

Judging by how things are today, it's very unlikely that we'll be seeing any positive movement in the crypto market anytime soon. Frankly speaking, I've already accepted that the crypto market as a whole is doomed to stay at this level for a while.

It is rather unfortunate but it really feels like the underlying unseriousness about the wider crypto community hasn't changed. The bigger populace of normies hears about pump-and-dump tokens rather than actual projects with real utility.

If I was a normie looking at the market and seeing assets like Dogecoin leading the way in the market, I'd be discouraged too.

When you look at where Bitcoin is today, factoring dollar inflation into the mix, perhaps it is not a surprise where things are. If an asset of this magnitude in size can suffer then there's very little hope for blockchain game projects like Genesis League Goals.

Hive is also trading below 30 cents for the first time in months, adding further cause for concern. It might be a while before we see any positive movement in the price of GLX tokens.

Trading volume

The price of GLX tokens doesn't bother me as much as the low trading volume. Any downturn in price can be explained away by looking at the general state of the market.

The trading volume, on the other hand, indicates that there's a lack of demand for assets in the game. This only means that there's very little interest in the game from within and outside the community.

Pack prices have managed to stay above $1 but with such low trading volume, there's hardly any reason to even consider buying packs. GLGT tokens have also seen their prices drop dramatically, which points to a more holistic issue with the GLG market.

It is important to add that the game is still not even up to a year, so we should exercise some patience. Virtually every successful project experienced downturns like these before taking off.

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