GLX Token Holding and Market Price

It's been a long time since I discussed about the Genesis League game and the token distribution was stopped a few months back. Like Spears, the distribution for glx was also for the entire year and in the beginning, this token price was quite good however later on it started falling and it usually happens when people get free tokens. Many people just sell off the token and book profit which creates more cell pressure in the market and that is why the price goes down. Because the game was not live at that time hence there was no utility for the token and this is why the demand was also less.

The glx token distribution was started based on SPS holding and when it was started that time I did not have more SPS tokens in my game account however I continued to increase it. With this increase, I was able to increase the token distribution as well. Even I was able to sell some tokens in the beginning when the price was good and later I did buy back which is why I got a few thousand additional tokens added to my stake. Sometimes it's good to follow this strategy because if it works well then we can increase the holding faster and this is what I wanted to do and happy that I was successful. This was the only opportunity I could avail myself of with this token but later on, I never found this type of opportunity Otherwise, the token holding could have increased even more but it's fine.

GLX Holding

This is my DLX token holding and I have 32K tokens as of now. Now there is no reward for keeping these tokens as staked because it was discontinued and I am not sure how to use these tokens because I have not been very attentive on this project and this is why I think I need to spend some time on this to see how things can be done. Although the game is played there I'm not sure how to play it and what assets are required because the only assets I have is the tokens that are distributed as part of the airdrop for the year long. Even though the value of this holding is very low but also I'm not going to sell anything because I expect things will improve especially when the market recovers and we are already at the age of good market sentiment. Most projects do well in the bull runtime and I expect that Genesis League is also going to get better when the market is in a better position.

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If the value of these tokens improves then probably I'll think about buying some assets using these tokens if possible and if not then I will swap and do that but it is going to happen only when the value of the token improves. The current value is $78 for 32K tokens which I think is very low and for this price, I'm not going to do anything because it is highly undervalued this time.

Price

This is the price chart for the last 15 days in early view where you can see that the price is continuously dropping however there have been some price jumps also but that could not step along. Value is too low and even the trading volume is not much which is just $50 approximately in the last 24 hours there is some value drop also which is 0.28% in the last 24 hours.

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It's hard to say how this will be going in future and we cannot predict the price but looking at the demand and supply it is expected that the price will not grow real soon. Below is the trade history for GLX and I can see that more people are buying and less are selling however there is a quantity difference between the and people who are selling or selling in bigger quantities. I haven't checked the price in the market for these tokens for a long as well but looks like this is the time to pay some attention even if there is some great buying opportunity then it can be worth entering and buying some because you never know if the value appreciate it is going to be a profitable deal. But again this can be a long term because we should not be expecting a significant increase in the short term but if it happens then it is good for us anyway.

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Now I think it is time for me to explore more about the game and what assets are needed. The game is built by the splinterlands team and they are experts in this field hence I expect that they will bring some value and they must be working behind the scenes to execute it. Now it is us who should be waiting for that time and whenever it happens it is going to be good for everyone who is part of the game but don't know when things are changing in this game. This game was launched with token distribution also in the bear market and I think that is not the right time for a project launch in the crypto market which could also be one of the reasons why this project did not do great in the beginning. Let's see how it goes and I will try to get more details about it and we'll be trying to keep an eye on the market price as well.

Thank you

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