Crypto Projects Record $638 Million in Token Buybacks, With Only Two Showing Gains

Crypto projects reached a record $638 million in token buybacks this year, yet nearly 90% of this activity originated from only two entities. Hyperliquid (HYPE) and Pump.fun (PUMP) have both seen their values more than double since January, while the remaining four projects with buyback programs have experienced performance ranging from a 20% gain to a 39% loss.