GLX: 341.02% Price Appreciation in Just Two Days

This morning, I was thinking about where to get the HIVE I need for my Hive Engine trading activity. I am thinking particularly of adding DEC. GLX caught my attention.

Two days ago, the price of GLX was 0.195 SWAP.HIVE. I bought 10 from the fund I got from selling LISTNERDS and paid 1.95 SWAP.HIVE.

Today, the price of GLX is 0.86 SWAP.HIVE. I was thinking of selling it. Imagine an increase of 341.02% in just two days. It’s good that I only have a small quantity. In the stock market, such an increase will create noise. That’s the equivalent of seven straight ceiling prices. You don’t see such a thing happening in the Philippine stock market. The most you can see is three consecutive ceiling prices. And almost everyone will be hyped for they will consider it extraordinary.

Such a price increase seems normal in the crypto space. There are no ceiling and floor prices here. However, such a price appreciation looks insignificant for the amount traded is very small. Imagine if you are trading at least a minimum of $1,000 USD, that to me is already a significant amount. The question is can GLX carry such a trade?

Checking GLX 24-hour volume, I find that $62,159 worth of trade impressive. It’s higher than DEC at $53,517.

As for market capitalization, a few minutes ago, GLX has more than $488M. Now, it’s just $370,885,232.00. Still close to 10 times Splinterlands’ market cap at $40,200,000.00.

I only have more than 2,000 staked SPS. Such a stake received a total of 24 GLX token airdrops as of this day. I want to test how this airdrop reward works. And I staked 10 GLX and transferred the 14 plus GLX to Hive Engine. After a few minutes, I saw this board:

Imagine, if I stake 1,000 GLX, I will have 3.1 airdrops already in just a few minutes. How much more in a day or week?

Anyhow, that is only my wild imagination. I cannot have the fund to buy such an amount of GLX.

After transferring GLX to Hive Engine, I sold 24.416 GLX for 20.75 SWAP.HIVE. Now, my question earlier has been answered. I can now buy the DEC I need.

When I first entered the crypto space in July of last year, I was clueless about these things. My staking experience in SPS gave me a lesson. In October last year, I bought $300 worth of SPS and stake them. I think if my memory serves me right, after less than a month, the value of my stake rose to $1,000 plus. At that time, I didn’t know what to do. I didn’t know how to un-stake. If I knew it then, I would have reduced my stakes down to 50% and would buy back later when the price of the token is more attractive.

Now that I know a little about how tokens work and checked the GLX whitepaper that the general sale will be launched in April of next year, I think there will be plenty of speculation about this token until the launch of the Alpha game. Such a period of uncertainty can go either way and this time I don’t want to be caught off guard just like what happened in my SPS experience.

An afterthought. I was thinking that my GLX sale was premature. Anyhow, that’s the reality a small player like me must accept. Of course, if I have the fund, I would not have sold it. Instead, I would have added a hundred or two. I don’t know exactly when are we going to see this game launch. All I see in the white paper is that there will be an extended sale until December next year. If that is the case, perhaps 2024 is the year this game will start. I still have plenty of time to buy and stake GLX.

Grace and peace!