Staking what I can — Hive
GLX is going through a very difficult period but that’s pretty much the case for the entire crypto market. Due to this situation, I’ve not been able to liquidate the token to facilitate our move and I’ve decided to hold until something positive happens in the market.
I no longer have lofty targets for the token but even dreaming of something as moderate as 5 cents per token is starting to feel like a pipe dream. However, there’s no reason to give up hope and with further development coming in the future, there’s no reason to think that we won’t see some positive movement.
At the time of writing, I still have almost 50K GLX tokens in my collection with around 40% of my total holding staked. No matter where the market goes, I intend to leave GLX staked indefinitely.
The larger portion of my collection is kept liquid as I wait for the pump that always seems to be moving in the opposite direction of my dream. This portion will be kept liquid until I can raise at least $1000 from it and at this point in time, that will mean somewhere around 4.5 cents per token.
The other portion of my GLX collection that remains staked will continue to generate more GLX for me and I will be staking everything I earn from it. I’ve paused my dream of having a ridiculously high staking target and will focus on just growing slowly.
It will take a long time to recover from all the liquidation I’ve had to do to actualise our relocation but I’m hopeful that the last bit of tokens I liquidate will be at a decent price. For that to happen, I’ll need to exercise patience and hope the market swings in my favour.
Sub 1 cent
At the time of writing, GLX is still trading below 1 cent and even dropped below what I thought was the bottom. At a bit over $0.006, GLX looks to be “going to zero”. That’s highly unlikely when you consider the size of the community and the hype that future developments will come with but the price makes you wonder how much of a pump we can experience.
At this moment, a 1000% pump only translates to about 6.5 cents per token but that’s not a rate that comes easy. Considering the general state of the market, the odds of such a massive pump are quite low even if the game is launched.
If the launch and accompanying hype/marketing actually lead to a rally, the pace at which the price of GLX surpasses will give us an idea about what the future holds for the token. I’d refrain from dreaming though but for me, anything above 4 cents will offer decent value to cover certain expenditures.
Posted Using LeoFinance Alpha
Originally published at https://hive.blog on June 28, 2023.
