I shared a post 3 weeks back that I want to make it a 15k GLX tokens stake and now its done but this is not the end because I have changed my thoughts about this token. the airdrop has been ongoing for the token and every day tokens are distributed as per the SPS holding however the current price is low in the market.
GLX is Undervalued
This is the governance token for the Genesis League sports game which is under development but the token value is highly undervalued at present in the market. The only reason why the price is low I believe is that there is no use case of the token because the game has not been launched. The real use case will be available only when the game is available for the play and I expect that once that happens then the price will grow significantly. It is hard to predict as of now what price we can see once the game is live however I anticipate that it is going to be a good one south if you believe in the game for the long term then I can say that now is the right time to build the holding
GLX Holding & APR
Here is the snapshot showing my current glx token holding and its over 16k in total. I have been accumulating SPS since the beginning and the same thought process I followed with GLX. The current APR is 90% which is still pretty good I can say and even now if we accumulate a good number of tokens then the reward is going to be pretty good. I remember the initial reward was very high and with time it kept on dropping because when more people deposit in the pool then the percentage is expected to drop and the same has been happening here.
My GLX Strategy
Earlier I wanted to make it 15K which has already been achieved but now I am thinking loud on the token so from now onwards I will be buying it from the market in parts. I still have not decided how much balance I would like to have in my account however I will continue to accumulate as much as I can since the current APR is making me feel that it will help me have more tokens as part of the reward before the game goes live. The only strategy I am going to follow as of now is to buy and accumulate as much as possible in the next couple of months. It is the same strategy I have been following with SPS and now will continue to do the same with GLX as well and I hope this will help me create a decent holding for the token
GLX Price
below is the price chart for the token and I'm surprised that More people are selling the token in the market which is why the rate keeps on dropping. I don't understand why people are selling at a low price when they are aware that things will be much more exciting once the game is available now is not the time to sell it off and book profit instead it is time to grow the holding. I believe this is just because of the free token distribution and people are taking advantage which is highly possible. It often happens when the free tokens are distributed then a majority of people just dump them in the market to book some profit and the same has happened with SPS as well.
GLX Airdrop
As of date, the airdrop is left for 160 days, and in the game language, it is called a staking reward because it is given to the people who are holding sps in the game account. So now we are left with slightly more than five months and then this will end because it was started in October. Once the airdrop is over then we can expect some increase on the price but till that time I do not expect the price to increase unless we see something happening in the game which might add value to the token price.
160 DAYS REMAINING FOR STAKING REWARDS
I share the same opinion as I do with sps because I believe both are valuable tokens in the game and it is just a matter of time when the price is low because of certain reasons. We already know that SPS is going to be a valuable token in the game once the change is implemented and similarly GLX will also be in a similar spot however we need to wait for some time to see that coming. I have created a good holding with SPS but that is not the end for me and in the same pattern I am going to do the same with GLX as well to create a decent holding which will help me generate better rewards in the game
Thank you
Heres a free vote on behalf of @se-witness.
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