I am still building my GLX position.


I am still building my GLX position.

If you are following Genesis League Sports, then I can guess that all of us are eagerly waiting for the "public" release of the game, open-ranked play, and play to earn rewards to be started soon but currently, there are only promises of "soon" only and frankly speaking, players are now getting bored with this waiting game.

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Anyway, I am still staking my GLX token to get GLGT as reward and still committed towards my 200K GLX goal, and out of 200K, I have already staked more than 121K GLX and am now short of 78500 GLX tokens from my goal.

Progress is now getting slow.

My GLX staking progress is now moving at a very slow pace and below are the factors for the slow progress.

1. End of Airdrop.

GLX airdrop for SPS holding was over a month ago, so the "airdrop" that used to help me to add almost 100+ GLX daily to stake is no more there.

2. End of GLX Staking APR to give GLX as rewards.

GLX staking was giving very high APR for staking GLX (approx 58%) even at the last days. So the end of the staking rewards in GLX also caused a setback of 100+ GLX daily,.

3. Not rushing as I expect it to drop more.

I had purchased a lot of GLX in earlier months and GLX continued to drop but I am somewhat compensated by the high staking APR of the GLX. Now there is no staking APR for getting GLX (only GLGT is there the APR might be 2-3% only.) Also I am closely monitoring the liquid GLX and GLX price and by seeing the data, I am observing that liquid GLX in market is increasing though the airdrop has ended. So my gut feeling is that GLX can drop more . (unless players have unstaked GLX for liquidity pool rewards that are to be supposed to start on later date.)

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So At current, I am purchasing GLX at a slow pace or spending just 10-15 Hive per week to buy GLX, though I have pooled enough capital to buy all 78500 GLX at the current price. There are 2 factors for not buying all GLX in one go.

1. Unfinished Product.

I can say this is the biggest turnoff to go all in even at this price because the team has not been able to release the game yet.

2. Gut feeling that it will drop more.

I have a strong feeling that GLX will continue to drop more in the coming days, so it does not make sense to invest more today.

I feel, that unless the game is released now, support for the token price will be very weak so I am waiting for now game to be released to make the decision to buy to reach up to my target stake.

Still investing because I can afford this risk.

The only reason, I am still in GLX buying is because I see it as a high-paying risk if it clicks, and if it does not click, I am still not worried because I can easily afford this loss.

So do you have any token in your wallet that is not performing but you have not still dropped the hope?

Posted Using InLeo Alpha

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Rajat G
Rajat G

Searching for truth.


Avid gamer interested in blockchain.
Avid gamer interested in blockchain.

Gave interest in cryto currency,blockchain and gaming.

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