$638M in Token Buybacks: Hyperliquid and Pump.fun Dominate Crypto Landscape

Crypto projects have collectively spent around $638 million on token buybacks since January 1, representing a 17% increase from the same period in 2025. Nearly 90% of this amount comes from Hyperliquid and Pump.fun.

Hyperliquid directs 99% of eligible transaction fees to its Assistance Fund for automatic token buyback and burn. This has resulted in approximately $1.3 billion worth of HYPE tokens being bought back and burned since the project's launch at the end of 2024.

Pump.fun allocates 50% of Launchpad and PumpSwap revenues to buying back and burning PUMP tokens. As of early August, this buyback program has offset around 15.7% of the initial token supply.

The Sky Ecosystem has also repurchased approximately $26 million worth of SKY tokens this year, contributing to a growing trend of token buybacks in the crypto space.