Crypto projects have spent about $638 million on buybacks of their own tokens so far this year, according to a Financial Times report citing data from blockchain analytics firm Allium Labs. The figure is above the $545 million recorded over the same period last year, while full-year buybacks in 2024 totaled just $366,000.
The report said token issuers are adopting a tactic long used in equity markets as they try to support token prices during a prolonged market slump. The buyback activity appears to be highly concentrated rather than broad-based across the sector.
Allium Labs’ data shows that Hyperliquid and pump.fun together accounted for nearly 90% of the total buyback volume tracked this year. The figures point to a sharp rise in capital deployed for token repurchases, with a small number of projects making up most of the total.
Crypto projects have spent nearly $640 million buying back their own tokens this year, according to a Financial Times report cited by ChainCatcher. The report said token issuers are using a tactic common in stock markets as they try to support token prices during a prolonged market downturn.
Data from blockchain analytics firm Allium Labs showed that token buybacks reached $638 million this year, up from $545 million in the same period last year. For all of 2024, the total was just $366,000.
Hyperliquid and pump.fun together accounted for nearly 90% of the total buyback amount, based on the data cited in the report.
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