UXLINK price drops 15% as team plans vote on early token unlock

UXLINK price dropped to $0.120 and trading volume surged shatply ahead of a community vote on early token unlocks linked to compensation from its September hack.

At press time, UXLINK was trading at $0.120, down 15% in the last 24 hours. The token has slipped 5% in the past week, 62% in the past month, and now trades 96% below its all-time high of $3.68 set in Dec. 2025. Its 7-day range shows volatility between $0.1066 and $0.1907.

The selloff led to a spike in trading activity. Daily spot volume surged 612% to $119.9 million. Derivatives activity also rose sharply, with CoinGlass data reporting a 733% jump in volume. A 15% decline in open interest indicates that traders are closing positions rather than increasing exposure. 

That mix of rising short-term activity but lower positioning points to uncertainty ahead of the governance vote.

Early unlock vote follows September hack

The latest move comes as UXLINK (UXLINK) holders prepare for a governance vote on the Ethereum (ETH) mainnet on Oct. 4.

The announcement was shared by UXLINK on Oct. 3, setting out a proposal for Ethereum mainnet holders to decide whether a portion of community, team, and treasury allocations should be unlocked ahead of the original 24–48 month schedule. 

The early release would provide liquidity for swap and compensation plans tied to the Sept. 22 hack, which drained an estimated $30–44 million, according to security firms PeckShield and Hacken.

UXLINK has already deployed a new audited contract with a fixed supply and launched a migration portal on Oct. 1. Holders before the hack are eligible for 1:1 swaps, while mid-hack and post-announcement buyers face adjusted tiers. The early unlock vote is designed to accelerate compensation and support trading resumption on major exchanges.

Community sentiment and UXLINK price outlook

Community sentiment is split. According to analysts, if the early unlock is successful, 5–10% of the supply may go into circulation earlier than anticipated. This raises concerns about dilution but also allows for quicker compensation and possible relistings on exchanges. That combination could stabilize sentiment and spark a recovery similar to other post-hack rebounds.

Given that traders are already reducing their exposure to derivatives, there is a high chance of further decline if the proposal is rejected or relistings are postponed. Near-term performance depends on whether governance offers a credible route to restoring liquidity and exchange access.