GLS & GLX token: What's The Gambler In You Saying?
SPS seems to be one of splinterlands' most valuable assets, not because it's performing well (which it's not) but because of the utility which inevitably brings a certain prospect to the price doing well over time.
There was a time this was DEC, but I think SPS has been gradually elevated and now stands as one of the most coveted assets in the splinterlands' economy. Originally without the GLS project, many people were already happy to hold and stake SPS, because of the APY.
But with the GLS project coming into the limelight, I think more value will be accrued to SPS, because it now compounds more assets without you having to move a muscle.
At the moment, you get more GLX tokens for holding SPS and you still get your daily interest rate for holding SPS. Although these profit scenarios are from two projects. GLS is a different project entirely and I do believe that when the project is fully launched it might bring its assets to play, meaning what they're going to be offering to the table, might be totally independent of splinterlands and SPS, I cannot totally say.
But the truth is that at the moment, the project has brought further awareness to SPS, they need to still hold it and the endless prospect of profiteering to those who hold and stake it irrespective of the price.
SPS whales on splinterlands are finally going to get the massive drop from GLX and the reason why I cannot envy them is that everything that happens to whales is huge. If it is a loss, it's more devastating, but if it's a gain then it's always bountiful.
However, a lot of people are now buying SPS to farm GLX. I cannot prove this, my point is since the yield rate is high, it's only natural that people will buy more SPS and more GLX for their staking pleasure and on a side note, I don't know why SPS is not going up. However, this is only at the moment. I think because of its utility, SPS will do well, even if it might not be up to the expectations of many people.
Slow growth doesn't mean no growth.
The most surprising thing is that there's no stopping GLX at the moment. I was thinking the dump will happen soon, because the price sort of reduced consecutively in two days, so I was thinking I could sell some of my GLX, expect the dump, then buy back later, but it's been days now and the price is still going up.
This wasn't usual. However, critically looking at it, the dump might be inevitable but one of the reasons why I think it's showing no sign of happening is because of the FOMO created by the awareness. a new yield King is in the town.
So this fomo is selling the excitement really well and I think it's a matter of time before the SPS/GLX whales decide to cash in on their profit. But I might be wrong, a dump might happen, but who knows, people who have been waiting might Just swoop in and buy back everything.
It's tricky because there's something about the GLS project that feels different. But, we can never tell the longevity of these sweet prices, hence trusting yields can be a bit difficult. So I have decided to take back about half of the GLX I sold and buy back.
The remaining half will go into when the dump happens. However, I'll keep buying little by little and staking and keeping faith in this project. For now, I'll also mind the staking of my SPS, since there's now something at stake.
Interested in some more of my works?
How To Be "THE" Content Creator You Always Desire
The Consequences Of Being Overly Assumptive About Money
A 1.6 Million Naira Use-case For iPhone 14
Free Money: What Will You Do With $216k Worth Of Crypto In Your Wallet? (2)
The 4 Ways Of Developing A Relevant Niche As A Content Creator
Tech & Gadget Sophistication; Picture & Aesthetics
Posted Using LeoFinance Beta
First of all, I liked the last bit of the title. “What’s the gambler in you saying?”
I guess I’ve never really thought about it like this until now. This actually makes me see whales as much more risk takers than the rest of us, and helps me understand why they’re doing everything in their power to increase the value of assets. They’re literally the first line to bleed and the ones that bleed more in this market.
I don’t really understand the details of the SPS/GLX dilemma, but I think not totaling cashing in or out on GLX is smart on your part. You’re basically in a partially open position that you took profits from already so that provides a bit of a safeguard in case the dump traps you. I think a dump will definitely happen, because like you said, the SPS/GLX whales will distribute their assets and cash in their profits eventually and late comers will be left holding their
dicksin their hands.Thanks for that detailed comment. The truth is that, yeah, whales have a lot to lose or gain. I'm sure you'll become a whale in the future when you throw in some investments or maybe somehow else, this is when you'll begin to understand some whale attitude, it's either they win big, or they lose big.
As for GLX, it's continued to defy the odds, I know many people are currently perplexed as to how this is so, but that's because the big boys haven't started selling just yet. However, I've made some decisions, so technically I won't lose when it begins to dip.
Whatever goes up must come down. It’s just normal market dynamics. Even though you’ve taken precautionary measures already, I hope GLX doesn’t flip on you soon, and that you milk the market as much as you can and exit before things go south:)
It is interesting GLX is diverting our attention from the poor crypto market condition in a positive way giving us something to think about, sell, stake, or buy SPS or GLX. I checked the price of GLX earlier today and was impressed.
It's a sweet dilemma, a dump is inevitable but until then let's enjoy the moment as each decide which move is the best.
Posted Using LeoFinance Beta
I don't really know how the future of GLX would be, but it seems the environment is piling as more people are digging into their pockets and buying. Let's actually see how it goes. Like you said, it's diverting our mind away from the state of crypto at the moment.
This post has been manually curated by @bhattg from Indiaunited community. Join us on our Discord Server.
Do you know that you can earn a passive income by delegating your Leo power to @india-leo account? We share 100 % of the curation rewards with the delegators.
Please contribute to the community by upvoting this comment and posts made by @indiaunited.
Thanks @india-leo
I've been just claiming and staking, but now I want to sell.
There's no way it can stay above 1 HIVE...
...right?
Posted Using LeoFinance Beta
There's no way it can stay above one hive forever. Makes me remember what happened with cub at the earliest stage. I think the lesson is to take profit at all cost.
I heard from someone that the staking APR is really high. So I am conflicted and I am not sure if I want to unstake my liquidity pool position or just stake my new tokens into the pool. I am leaning more toward the 2nd one about moving my new SPS into staking as I am taking some profits off of GLX.
Posted Using LeoFinance Beta
I think staking everything eventually reduces your chances of taking profit especially when the dip is happening. However it's tricky, you lose out on that incredible APR. I think everyone at one point in time is going through this dilemma
I don't know about my instincts, but the ui is not letting me stake them.
I tried several times.
I transferred them and set sell orders, but no staking for me.
It's actually staking, are you sure your keychain is connected and your internet connection is strong?
Yes, after multiple tries I'm taking it as a clue.
View more
I am staking if ,I can be put through , because the way is been explained ,it is interesting and convincing
Hard to say bro. Looks good at the moment. I keep claiming and staking for now. Keep rockin bro.
!LUV
Posted Using LeoFinance Beta
@josediccus, @captainquack22(1/5) sent you LUV.
wallet | market | tools | discord | community | <>< daily
HiveWiki
HiveBuzz.me NFT for Peace