GLX token continues to impress

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Strong glx.png

Last night, I finally claimed the GLX token that I was farming for like 24 hours and fair to say, it was worth the wait. I ended up with a small fortune of tokens that I promptly converted to Hive because I thought there was going to be a rush to dump.

I figured that the price of GLX didn't drop as dramatically as I expected because the word wasn't out yet about claims. However, I woke up this morning to see the token still trading above 20 cents and I have to admit that I am really impressed.

I actually thought that the situation with Splinterlands and the fact that Claims were halted for 24 hours would spook investors. Alas, the price did drop but not as significantly as you'd expect, with all things considered.

In fact, from all indications, it looks like more GLX tokens ended up being staked when claims and staking got reinstated. This is quite the situation, I must say and one that is extremely impressive.

How long though?

I'm not holding, to be honest. I'm just taking it one day at a time, squeezing out value and watching the numbers.

Frankly speaking, I feel like the price of GLX could swing in any direction and the move will be justified. Obviously, if it swings to the right and starts pumping again, that would be awesome but a swing in the other direction will be understandable.

GLX token has a market cap that surpasses $360m and while that is pretty on paper, it is clearly unsustainable. It is hard to see where the pump will come from but crazier things have happened in crypto.

I keep looking at the numbers in the page and struggle to make any sense of it. First of all, it says that there are like 1.55 billion tokens are liquid and my question is, where? Where did all these mystery tokens come from? Surely, they couldn't have come from staking rewards, right?

There's just so much about the tokenomics that goes over my head. Perhaps the investors that are contributing to the over $84k of trading volume on Hive-engine know more than I do.

Anyway, my game plan hasn't changed for GLX token, despite the current market value. I don't think the current price is sustainable and I hope I'm wrong.

Assuming I'm not wrong and the price of GLX drops as dramatically as I suspect, I'm going to simply buy the dip and stake as much as 20K GLX tokens. For my sake, I hope I'm wrong and I continue earning my daily bread from a random $48 investment that I did on a whim.

Posted Using LeoFinance Beta



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22 comments
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(Edited)

This is great! Finally we get to profit from earlier airdrop experience @belemo!😊 Totally agree with you! We can stake GLX in the future, when the price dips. However, we could be wrong but that is also good haha!

Lucrativ situation we got here! I am selling every day so I can build in main game🤑

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I just hate all the issues the system been getting but I guess that's just part of the process

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i sell my only keep 100 GLX staked

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100? I'm too scared to unstake. The benefits are huge for me

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Seems to me the numbers on their website aren't accurate. They can't be. It makes no sense that all tokens are liquid and the price is this high. Let's just hope they share more info on that soon. Until then, the dumping shall continue as far as I am concerned.

Posted Using LeoFinance Beta

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Something doesn't add up but what about on Hive-engine?

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Just checked, it is showing very similar data...

I fking hate it when new projects launch and don't even bother to explain tokenomics. Like everyone is a billionaire online.

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A few days ago I was in need of Hive and so I sold I think 24 GLX for 0.85 SWAP.HIVE per token. The price was really good. After selling it, I saw the token drop to 0.55. I was tempted to pick a few, but I hesitated. I think a day or two after, the price climbed up to 1.20 SWAP.HIVE plus. Yes, the price action of this token is impressive. Prior to the release of the game in 2024, there is plenty of time for speculation about which way this token's price will go. For now, my decision is just to stake whatever amount of GLX I received from the airdrop. The growth is impressive. Though the quantity is small, percentage-wise 200% is huge. And that's just eight days.

Posted Using LeoFinance Beta

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Are you staking some?

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Yes, I started with 10 nine days ago, and it's now 30.

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The APR is pretty sweet

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Yeah, really sweet. Just like you, I also wonder about the sustainability of the token's price action.

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When pack airdrops start it will increase rate GLX is distributed. Price may fall be careful if you are investing a lot. I'm buying more packs :)

Posted Using LeoFinance Beta

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This is a very useful information and thanks for the alert, please when is the pack airdrop happening?

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I only bought like $48 worth of GLX when they were dirt cheap. Not buying GLX again for a long time

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About to sell a few things to get 100K right now
to 300K

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