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Crypto buybacks reach record $638M in 2026
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Crypto buybacks reach record $638M in 2026

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  • Crypto projects spent US$638 million on token buybacks through August 25.
  • Hyperliquid and Pump.fun accounted for nearly 90% of that total.
  • More protocols are using revenue to fund token repurchases.

Crypto projects spent a record US$638 million on token buybacks through August 25, according to Allium Labs data.

The total rose from US$545 million during the same period in 2025 and US$366,000 in 2024.

Hyperliquid (CRYPTO:HYPE) accounted for about US$370 million, while Pump.fun (CRYPTO:PUMP) contributed nearly US$200 million.

Hyperliquid used about 99% of its revenue for buybacks, including US$141 million from US$169 million in second-quarter revenue.

Pump.fun uses about 50% of its net protocol revenue for repurchases, while its annualised revenue was about US$420 million.

HYPE gained 145% and PUMP rose 109% in 2026, while Bitcoin (CRYPTO:BTC) fell 10%, according to TradingView data.

Bitwise chief investment officer Matt Hougan said crypto valuations could double within two years as buybacks and token burns increase.

At the time of reporting, Hyperliquid price was $84.26.

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