Will $GLX ever Bounce Back? Is it a good time to buy more $GLX?

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Hey All,

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Inline to my post where I talked about $SPS and will it bounce back from here. I thought, it would be nice to present some views around $GLX as it is also trading around its all time low price. The game Genesis Sport League governance token is $GLX and currently the token continues to be Airdropped to players/investors who has Splinetershard $SPS staked. Plus if $GLX is staked there currently the APR is more than 100% and we still have 184 days remaining for staking rewards to be distributed out. Here is my current stake in $GLX where I have close to 51K+ $GLX staked and on a daily basis I am able to earn 250+ staked rewards; which ultimately is being redirected to the staking pool.

My $GLX GOAL is to stake 100K+ tokens...

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Apart from staking rewards, I have bought a chunk of tokens at its lower price and have also benefited at a time when $GLX used to trade for ONE $HIVE. At that point in time, I sold $GLX for ONE $HIVE and invested into other second layer tokens like $SIM, $SPS and $LEO here on the HIVE Blockchain. And now for ONE $HIVE we can get close to 50+ $GLX tokens approximately; which I guess is pretty lucrative at the moment. And I am tempted to buy a good chunk of $GLX tokens. The worst part is that token continues to fall and as of writing this article it is trading for less than 1 cent. Here is the graph for $GLX taken from Hive-engine::

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The token is down 2% today as well and I thought it would be nice to grab some tokens at this price. But, due to short of funds I had to restrict myself for now and focus on redirecting some of my passive earning here on the HIVE blockchain to accumulate $HIVE and keep it handy to grab some $GLX cheap. Right now if you see the stats of $GLX tokens it looks something like this::

  • Total Supply: 167,191,824
  • Total Liquid: 68,136,833
  • Total Staked: 99,054,991
  • Maximum Supply: 2,000,000,000 GLX
  • GLX Price: $0.01

We are seeing an uptick in the total $GLX stake value, almost touching 100 Million $GLX tokens staked. Now considering all the factors outlined so far on $GLX airdrop, staking rewards APRs associated to it and total $GLX staked - we are yet to see the game emerged i.e. played out. We did have this activity of packs opening and many players took advantage of the extra drop percentage of GOLD foil cards being dropped. I myself leverages this opportunity to open 70 card packs and got a decent number of legendary cards pulled; here is the snapshot of my GOLD foil cards.

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I have 47 GOLD foil cards and they are worth more compared to regular cards. Anyways to the point of $GLX continuing to fall and will it bounce back. I feel that we need to see more of a development activity here and some announcements from the team as to what is the current status of the game being delivered in its playable state. And if were are aligned to our roadmap deliverables then I guess this should be a breather for the $GLX tokens and we could see some potential of a pull back from here. The other side of the issue is the token supply itself which is way too high 2 Billion is way too much. We definitely need to have some sink for the token to maintain a balance for total and circulating supply. Finally, to be honest my most of the stake had come via the Airdrop and Staking rewards. Hence, I'll continue to HODL $GLX for a longer period of time, as I feel its not worth selling a governance token for pennies..Hopefully, when the game comes out things will change and who know we cold see those glory days come back for $GLX again... cheers..hoping for $GLX to the moon Sooooon....

Have Your SAY on GLX...

Are you stacking up $GLX... Do you feel that $GLX is going to be the Next Big thing in NFT? What is your strategy looking for $GLX token? Let me know your thoughts in the comment box below... :-)

Will $GLX ever Bounce Back? Is it a good time to buy more $GLX?

#glx #sps #staking #apr #leodex #splinterlands #glct #node #glxnode

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Best Regards

Image Credits:: genesisleaguesports, leodex, hive-engine

glx sps splinterlands spt ctp archon hodl neoxian hivegames nft
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I don't have much faith in GLX token in the near future, I bought some couple of months ago, because of high staking APR, what anyway I already regret. (currently have around 8K) I add the reward to my staking pool, but still it worth less today, than the original purchasing price. And I suppose, it will continue like that for a while.

However, I am still thinking on buy some more in the near future for the following reasons:

1., pack staking is near to the end (that's 193K GLX/day in reward pool)
2., probably new GLX liquidity pools will be created around game launch, what will boost the demand, so the price, too. (this is my main reason, not price speculation, put some in future liquidity pools)
3., possible future ingame token usage (what i don't see to come)

Except these reasons, I see no point to purchase more, and hold. If they announce the next game, I am almost sure, I will buy more, but not before that. As the GLX staking in this form is ongoing for half more year, I suppose, it won't happen in the next year to date.

And my scepticism is not only about GLX token, but almost all gaming token on Hive. I've found only 1 gaming token on Hive, which has a healthy balance, stability. The dCrops CROP token. Kinda strange, they could invent a healthy system, economy for their ingame token with a significantly lower player pool, but not any of the other games.

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