Crypto Projects Spend Record $638 Million on Token Buybacks — Only Two Are Winning

Crypto Insight Summary: Crypto projects have spent a record $638 million buying back their own tokens this year, and nearly 90% of it came from just two of them. Hyperliquid (HYPE) and Pump.fun (PUMP) have both more than doubled since January. The four other projects running repurchase programs range from a 20% gain to a 39% loss. Crypto Crypto Insight Analysis: Direction: Bullish HYPE / Bullish PUMP / Neutral Impact: Minor Impact Horizon: Short-term (1-3 days) Reasoning: Token buybacks by two projects boosted their prices but have limited market-wide impact.