Crypto Projects Repurchase Record $638M in Native Tokens

Crypto projects have repurchased over $638 million worth of their native tokens so far in 2026, according to data from Allium Labs. This marks a 17% increase from the same period last year, when the total was around $545 million.

The majority of these repurchases were made by Hyperliquid and Pump.fun, which accounted for nearly 90% of the total. Hyperliquid's revenue-funded repurchase program is particularly notable, as it routes 99% of eligible trading fees towards buying back its native token HYPE.

Hyperliquid has purchased and burned around $1.3 billion in HYPE since launching in December 2024. This cumulative number should not be added to the annual total, as they cover different time periods. The token's price had gained approximately 70% over the previous year, according to the Financial Times.

Pump.fun is another major player in token buybacks, using revenue from its token launchpad and exchange to purchase PUMP. Its current mechanism commits 50% of designated revenue towards token buybacks and burns through a locked smart contract. The platform spent around $5.02 million buying and burning 2.15 billion PUMP during the week ending August 9.