Hyperliquid and Pump.fun Lead Record $638M in Crypto Token Buybacks
- Crypto projects executed a record $638 million in token buybacks in 2026, up from $545 million in the same period of 2025.
- Decentralized exchange Hyperliquid accounted for approximately $370 million, while memecoin launchpad Pump.fun contributed nearly $200 million.
- Token buybacks are gaining traction, with Hyperliquid directing about 99% of its revenue to buybacks, totaling $141 million in Q2.
- The ENA token from Ethena Foundation rose by over 10% following a proposal to use most of its revenue for buybacks.
- HYPE and PUMP tokens have outperformed the market, rising by approximately 145% and 109%, respectively, while Bitcoin’s price fell by about 10% year-to-date.
The surge in token buybacks indicates a strategic shift among cryptocurrency projects aiming to enhance shareholder value similarly to traditional stock buybacks. This trend is reflected in the significant increases in valuations for projects like Hyperliquid and Pump.fun amidst broader market declines.
With Hyperliquid and Pump.fun leading the charge, crypto projects have embraced buyback strategies that could reshape investor returns, as evidenced by the record $638 million spent this year on repurchasing tokens.(Source)
