Crypto projects have spent nearly $638 million buying back their own tokens so far this year, according to Financial Times reporting that cited data from Allium Labs. The figure stands above the $545 million recorded in the same period last year and far exceeds the $366,000 reported for all of 2024. The activity has been heavily concentrated in a small number of names, with Hyperliquid and pump.fun together accounting for almost 90% of this year’s total buybacks. The report said token repurchases are typically used by project teams to reduce circulating supply, add buying pressure, ease selling pressure, and support prices during a weak market. The larger buyback total this year also suggests that more crypto projects are adopting repurchases as a response to prolonged market softness.
Crypto projects have spent nearly $638 million buying back their own tokens so far this year, according to a Financial Times report cited by BlockBeats on Aug. 31.
Data from Allium Labs showed that token buybacks reached $638 million this year, up from $545 million in the same period last year. The total also dwarfed the $366,000 recorded for the whole of 2024.
Most of the buyback volume came from a small group of projects
The distribution of those repurchases was highly concentrated. Hyperliquid and pump.fun together made up almost 90% of total crypto project buybacks this year, making them the main drivers behind the rise in overall buyback volume.
Projects are using buybacks to support token prices
The report said project-led token buybacks usually signal an effort to reduce circulating supply, add market demand, ease selling pressure, and support prices during weak trading conditions.
The larger buyback total this year, compared with the same period last year, also points to a broader shift as more crypto projects adopt repurchases as one way to respond to a soft market.
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