UXLINK token Faces Price Drop as Community Votes on Early unlock
UXLINK’s price has fallen to $0.120, with a 15% drop in the last 24 hours. This decline extends its 30-day loss to 62%. Though, trading volume has spiked by 612%, indicating heightened interest.
On October 4, holders will vote on an early release of team and treasury tokens. This move aims to compensate victims of the September hack, which drained $30-44 million. The proposal seeks to unlock tokens earlier than planned to aid in recovery efforts.
The community will decide if a portion of locked tokens should be released. This decision could impact the token’s future on exchanges and its short-term price.
UXLINK’s price has plummeted to $0.120, marking a 15% drop in the past 24 hours. This decline extends its 30-day loss to 62%. However,trading volume has surged by 612%,signaling increased market activity.
on October 4, UXLINK holders will vote on whether to unlock a portion of team and treasury tokens early. This move aims to compensate victims of the September hack, which drained an estimated $30-44 million.
The proposal includes early unlocking of tokens for users affected by the hack. These tokens will be used in swap and compensation plans with centralized exchanges and on-chain users. The early release could provide liquidity for compensation and support trading resumption on major exchanges.
Community sentiment is divided. If the early unlock is successful, 5-10% of the supply may enter circulation sooner than planned. This raises concerns about dilution but also allows for quicker compensation and possible relistings on exchanges.
Analysts suggest that if the proposal is rejected or relistings are delayed, the token may face further decline. The near-term performance depends on whether governance can restore liquidity and exchange access effectively.
UXLINK has already deployed a new audited contract with a fixed supply and launched a migration portal. Holders before the hack are eligible for 1:1 swaps, while others face adjusted tiers.
