Hyperliquid Leads $638M Crypto Token Buyback Surge

Crypto token buybacks have seen significant growth in 2026, reaching $638 million. This represents a 17% increase from last year's figures and is largely driven by high-revenue projects such as Hyperliquid and Pumpfun.

While these buybacks rely on recurring fee income to sustain demand for tokens, most protocols still struggle with generating enough fees for widespread adoption.

Furthermore, despite large repurchases, tokens like HYPE and PUMP remain inflationary. This means that buybacks do not fully offset new token supply, relying instead on recurring revenue exceeding token emissions.