Crypto Companies Spend Big on Token Buybacks

The cryptocurrency market has seen a significant trend emerge in recent months as companies have spent over $640 million buying back their own tokens. This strategy, borrowed from traditional capital markets, is aimed at reviving prices and demonstrating stability during a prolonged market slowdown.

According to data from blockchain research group Allium Labs, the total amount spent on buybacks has increased significantly since last year, with Hyperliquid and pump.fun leading the trend. These two companies have combined spending of nearly 90 percent of the total $638 million spent so far in 2026.

The move is seen as an attempt to combat the sector's prolonged slowdown, which has seen Bitcoin decline by 38 percent from its peak level. Other popular tokens such as XRP and Solana have also plummeted by around 60 percent.

However, it remains unclear whether this strategy will be effective in boosting token prices. As noted by Helium co-founder Amir Haleem, 'It seems the market doesn't care about such moves, so we will stop wasting the money.' The platform has decided to halt its buyback program due to its lack of impact.