GLX bloodbath, Why I am still in, and 15 GLX Giveaway, ends Friday, 29th September EST.

GLX bloodbath, Why I am still in, and 15 GLX Giveaway, ends Friday, 29th September EST.

I guess there is a lot of uneasiness in the current scenario for GLX (token) or Genesis League sports (the company behind GLX token) as in the market GLX keeps touching low and I think that last couple of weeks we are witnessing the token to touch new low every day.

I do not get any harsh or directed questions but I think a lot of Hivians here wonder about my "bullishness" of this token when the token is doing the exact opposite. If I say that I anticipated this then it might raise another round of questions as to why I am writing "bullish" when I am anticipating "bearish".

To be honest, I cannot give one-word answer and what I am anticipate and what will happen in the future are still 2 different things.
My overall building position in this token is for a very long-term view, let's say at least for period of 3 years and if game survives, and another bull market comes, I put this token as my 10x or multi x bet. And to take the benefit of a 10x bet fully, I should be holding a significant amount of tokens so that it can be swapped for a nice amount and give me a nice amount to put money in another investment.

Why I am anticipating more bearish.

This is more related to game development timelines which team missed very badly. Game that is supposed to be playable in Q2 of this year and I am not sure if it open to the general public in Q4 or not. So basically there is no utility of GLX delivered that can be tied with the game and boost the usage of GLX.

The current utility of GLX is limited to stake GLX and its high staking APR. High staking APR act as 2 edge sword, in the first place it make a buy pressure on a highly paying token but in the second place it mints too many token that can easily offset buying pressure. In GLX's case, it not only has high minting of tokens but also year-long airdrop is going on that also puts significant selling pressure on it.

With no sign of a game, GLX staking rewards are also going to stop in the next 43 days which gives you GLX for staking GLX. I expect many of the users to dump this token when there is no staking rewards for this token and price can take another nose dive and hit rock bottom. If some positive news comes from game development then it can be reversed too.

My current Strategy.

My initial big purchase may be somewhere in March-April (Hope if I did not do it at that time, then I have enough money today to reach my end goal, here is the real difference between anticipation and actual future event.) and afterward I am buying some every week that now more like DCA towards my end goal. I am keep doing DCA towards my end goal.

So when I say "bullish" , that is my pure belief and anticipation in long term, but I cannot forsee future events. I am not preaching "bullish" and doing the opposite, instead, I am still committed to my belief. So I will say , you can DYOR and choose the path that you beleive.

Giveaway part of the post

15 GLX Giveaway, ends Friday, 29th September EST.
Welcome friends, to my GLX giveaway of today for 15 GLX.

To enter into Giveaway comment below the post and your entry will be registered. The winner will be picked using Hive Comment Picker and announced on the 30^th September,Saturday post. Make sure to do your entries before Friday, 29^rd September 23:59:59 EST.
PS: If Hive Comment picker is not working, Hive fortune (https://snackaholic.github.io/hivefortune/en/# ) or wheelofnames.com will be used. I will manually remove the bot's account and in case nobody comments then the prize will roll over to the next day's giveaway.

Winner Announcement:

Giveaway post link

Congratulations!
@circlebubble, 15 GLX are sent to you.
Transaction Hash :
https://he.dtools.dev/tx/82d1394745c9c0a06958c1a8207a6ea8b9927b72

Notification list.

If you want to be notified then please ask in the comment for Notification. I will add you.
@Supriya.gupta , @guurry123 ,@preciouz-01

If you like to play.

You can log in to the game here but currently, the game is in the development phase and a playable version will be launched soon.

GLX token stats.

Total Supply: 238,914,536
Total Liquid: 70,467,121
Total Staked: 168,447,414
GLX Price: $0.003
All of these above stats are taken from the game website.

Why I am bullish on GLX?

Major sports leagues already signed some of the big names like Lionel Messi and Sergio Busquets and there are talks of signing other big players. If Genesis League is able to mint the NFT of these players(that does have feasibility), the game will get international exposure as well it can skyrocket.

Posted Using LeoFinance Alpha