Staking GLX - Reached 3000+ GLX Tokens Milestone | SPS Staking
It's always good to spread investment in different assets. Doesn't matter how much amount you invest in assets for a specific time period. The only matters are that you invest steadily and will see growth in investment return. I started investing in GLX tokens at the beginning of February month. Every week I invested a few amounts that ranges from 10-30$. Hence I could reach to 3000+ GLX token milestone so soon.
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Today I purchased 300 GLX tokens to take advantage of the significant price drop in GLX tokens. The price of the GLX tokens was around 0.025$. So, I reached to 3000+ GLX tokens milestone. My GLX goal for the year 2023 is 5000 and in very less time I managed to grab a significant amount of GLX tokens. My plan for the GLX token is to take advantage of the high APR on GLX staking which is around 165% APR.
GLX Staking
Now I have a total of 3152 GLX tokens staked in my game wallet. 237 Days remaining for staking rewards on GLX staking. Still, many days remained, So we have a good chance to get significant rewards on GLX staking.
SPS Staking
We get some GLX rewards on SPS staking. So I am not going to withdraw SPS. I will hold it for the long term. My current focus is to increase SPS staking with my SPS reward earned by splinterlands gameplay. I have a total of 453 SPS staked in my game wallet.
GLX - SPS Staking Calculator (My Estimated Reward)
Here I calculated my estimated GLX reward on GLX and SPS staking using the splintercards website. We will get a reward on SPS staking at 36% APR and on GLX staking at 165% APR. So from SPS staking, I will get a reward of around 0.234 GLX daily and from GLX staking, I will get a reward of around 13.250 GLX daily. Which is a very good reward and will be helpful in the long term.
Conclusion
Overall I will focus to increase my GLX staking and SPS staking and will try to get the advantage of a high APR return on my investment.
Note (Disclaimer): Information provided in this blog is for information purposes only. This information is not for legal or financial advice.
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3k GLX is decent. Now is even a better time to buy into GLX.
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Yes. the Price is much lower as compared to last week's price was around 0.035$. Good time to invest and will get a good GLX token at a cheaper price. Thanks for visiting my blog. 😊
I have similar amount, don't you think the GLX price will fall down significanty??? (Generally, crypto is going up, so Hive + the node sale rush - what pushed up the GLX price - has gone.
I was checking the trades, some GLX speculator lost huge in the last few days... and generally plenty who store more for nodes selling what they left right now.
If the price goes down, I will see it as an opportunity to grab more glx. (According to me, it's always better to hold rather than panic selling in losses).
I was checking out SPS price, as the developers are the same. Perhaps, reasonable to compare to that. @dalz has a good blog, posts about it.
https://peakd.com/hive-167922/@dalz/splinterlands-stats-or-apr-2022-or-transactions-games-players-dec-and-price
So in 2021 it was mostly in the 0.20-0.40 range, last year 0.10-0.20, however today it is just 0.07
If the price trend will be similar (and nowadays is the top), it will be a huge loss, even in mid-, long term. Of course, there is the other side, what if it will jump between 0.50-1.00 around 1st game launch... then it can be huge profit from price jump + the game will be a free to earn in the future...
you see my doubt about buying more GLX at current price or not... :) :) :)
He covered good points in this blog.
I understand your doubt to invest more in glx or not. According to current market, Risk is higher. (As the market is unpredictable.) Its good to stay safe and not invest much. (or invest a small amount which you can put at risk)
i am thinking on it, too. don't you think it will go down further, more than 50% in the coming weeks??? I see no reason why it should stand in this price range. Crypto goes up, node sale rush is over.
I don't think that it will go down more than 50%. But yeah it can possible. Also there is good airdrop amount on staked GLX which will cover loss in coming time. I am going to hold it for long term. Also waiting for game launch to play game. So this staked glx will help later in game.
I am okay to even lose this amount. My doubt is about put more in it or not. Now, I see, these games can be really worthy if you are in them from beginning, so with this small amount, and some purchased packs, i will keep going with that anyway. However checked out other games 2nd level token price and its move in the last 1+ year.
Except dCrops, i did not find any more or less stable one. (Also that's the only one I know, which pays the staking reward in Hive directly, every day, what is a huge +++ in a possibly coming bull market.)
So a 50%+ loss of the GLX token value can take away all the profit from staking.
Have you been around at Splinterlands beginning??? If so how was that, as the developers are the same. (Can't find much about that in blog posts.)
ok. I think it's good to put more into it when the price goes down. But I would suggest investing a small amount to stay safe.
Yes, it will take away all profit. But our coins will remain fixed. So we should not sell at a lower price, instead, we should wait for a price increase to book profit.
I was not an early user of the splinterlands game. I ignored this game in its early stage. (Yes, developers are the same. Hence I am very excited and positive about this game.)
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wah bhai kya baat hai tumne to kamaal he kar diya 😍lage raho
Thank you so much for your support and motivation. Whenever the price goes down, I take advantage and purchase some. Around 13 GLX daily mil rahe hai. 😃
Yay! 🤗
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yes GLX price went from 0.088 to 0.055 in 24 hours, it's a good time for anyone wanting to buy GLX