UXLINK Announces Token Buyback Proposal, Price Rally Ahead?
AI-based Web3 social platform, UXLINK, has announced a monthly buyback proposal for its native token, UXLINK. The move comes as the project reports steady profitability and continued user growth, but token price lags behind.
In a recent X post, UXLINK proposed plans to allocate a portion of its monthly profits toward buying back at least 1% of the total UXLINK token supply. These repurchased tokens will be transferred into Strategic Reserves.
The project noted that the UXLINK price has underperformed compared to internal growth. It believes that the buyback move would add long-term value to the token. The proposal is currently open for community voting and is scheduled to end by the coming weekend.
Token buybacks reduce the number of coins available on the open market, which places upward pressure on price if demand is steady.
Following the proposal announcement, UXLINK price climbed over 5%, as investor interest grew. At the time of writing, the penny crypto token is trading near $0.01166, with its market cap up 5% over the past 24 hours.
Token Buyback Trend
UXLINK’s proposal follows a broader buyback trend across the market this year. The total spending across projects exceeded $1.4 billion by mid-October, according to data by CoinGecko.
Platforms such as Hyperliquid, LayerZero, and Pump.fun have committed large sums toward reducing circulating supply.
Token prices usually surge after buyback announcements. Earlier this month, SYRUP rose as much as 16% after Maple Finance announced a 2 million token buyback funded through revenue.
TYCOON recorded an 80% gain last week after the project announced plans to use operating profits for buybacks. In November, the ZK token surged 130% in a single week after a similar plan was disclosed by the ZKsync founder.
Market watchers believe UXLINK could see a near-term price rally if the community approves the proposal.
nextThe post UXLINK Announces Token Buyback Proposal, Price Rally Ahead? appeared first on Coinspeaker.
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