Crypto Projects Spend Record $638 Million on Token Buybacks — Only Two Achieve Success

Crypto projects recorded a record spend of $638.0 million on buying back their own tokens this year, with nearly 90% of this amount coming from just two projects. Both Hyperliquid (HYPE) and Pump.fun (PUMP) more than doubled since January. The other four projects implementing token buyback programs ranged between a 20% gain to a loss