Crypto token buybacks hit record $638M in 2026

Crypto projects spent approximately $638 million repurchasing their native tokens between January and Aug. 31, according to Allium Labs figures cited by the Financial Times. Summary Crypto projects spent $638 million on token buybacks this year, exceeding last year’s comparable total. Hyperliquid and Pump.fun represented nearly 90% of tracked repurchases, according to Allium Labs data overall. Hyperliquid directs 99% of eligible trading fees toward automated HYPE purchases and permanent token burns. Sky spent $26 million on 2026 repurchases, while its cumulative program remains considerably larger overall. Lido’s proposed framework activates buybacks only above revenue thresholds and limits annual purchases to $10 million. The total increased 17% from the $545 million recorded during the corresponding period in 2025. Projects spent only $366,000 across all of 2024, showing how quickly revenue-funded token repurchases have become part of decentralized finance. Hyperliquid and Pump.fun accounted for nearly 90% of the 2026 total. Their dominance means the broader increase does not represent uniform adoption across the crypto market. The annual figure also differs from cumulative buyba...