We talked about the GLX token price slump in yesterday's post and today we are going to discuss the need for the utilization of GLX. I don't know when the team will launch the game because the game launch can save the price drop of glx. Yes, crypto market is here to blame but exclude the crypto market from this matter let's just talk about the internal market of genesis league. In the case of genesis league, we can't blame the crypto market or hive market because it is an internal issue. And the issue is no big update that can increase the utilization of genesis league assets.
Even the altcoins and especially the hive start going up, We will not see a surprising move in the glx. I mean to say it will increase but not like expectation because glx needs utilization and then we can predict the price. Currently, the matter is to save glx to drop further. It is not in our hands and we are doing our part of the work by holding and staking the assets of genesis league. Although the price will deep more then there are many whales who want to enter this market to take benefit because they know that splinterlands's any project will thrive for sure. So of course they will take the benefit but a continuous drop in the price is a concerning thing and it can impact negatively.
In the splinterlands, we can see that if someone selling the nft then another one is buying to level up that particular card to increase deck strength. So this is the utilization that is beneficial for every asset in the game. One perfect solution is launching the game which is not easy and the game is still under development but I have heard that soon the game will come which means many things are almost ready.
Not only a game but there should be a proper launch and that can help glx price to thrive. I know it is easy to say but difficult to do. Users now using GLX as a potato coin they just buy, stake, earn and then dump. This bad cycle affecting the price of glx daily and this is the reason that apr is going down too. Also, the airdrop that users getting, they are dumping the tokens too. It is obvious that they just want to earn and dump which is why I am talking about utilization which is much needed.
Just staking is not a utilization because there are many projects that provide stake and earn and in the long run it gets affected. So that proves only staking can't create a proper utilization environment but we need multiple things and use cases so that GLX acts like a currency/asset. Anyway, I am not going to sell any glx token even if the price will go below 0.001. I am just accumulating tokens as much as possible so that I can increase my earning from staking. After staking they will surely launch better use cases for the holders. Let's hope for the best. And what you think regarding my opinion must let me know in the comment section. Reblog and share this post for sure.
Thank you
Lucky Ali
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 | Hi I am lucky ali from gujarat, india. I am crypto enthusiast, blogger and SEO developer. I always interested to learn new things and getting new experience. You can find me on hive, twitter and discord (Lucky Ali#6343). Sharing is caring, Thank you hive family ♥ |
