$638M Crypto Buybacks Surge, Led by Hyperliquid and Pump.fun
Crypto projects have been aggressively buying back their own tokens in 2026, with nearly $638 million spent so far. According to data from Allium Labs cited by the Financial Times, this figure surpasses the $545 million recorded during the same period last year and is significantly higher than the $366,000 reported in 2024.
The majority of these buybacks are attributed to two platforms: Hyperliquid, a decentralized exchange, and Pump.fun, a memecoin platform. Together, they account for nearly 90% of the total buyback amount.
This trend indicates that crypto projects are taking advantage of low market prices to replenish their token supplies. The exact motivations behind this move are unclear, but it may be an attempt to stabilize or boost token values in a bear market.