Crypto Buybacks in the Last 30 Days

Five protocols spent ~$112M buying back their own tokens over the past month, and Hyperliquid alone accounts for 56% of that:

• Hyperliquid – $62.5M
• Pump Fun – $24.3M
• Pons – $14.8M
• Stonk – $6.8M
• Lighter – $3.26M

The biggest buyer doesn't have the biggest impact. Annualise the 30-day pace against FDV and HYPE's buyback works out to under 1% a year, because $62.5M a month barely moves a $91B token. Pons does the reverse: $14.8M against a $475M FDV implies ~37% a year, and Stonk ~24%.

The small caps come with an asterisk. Pons' month came from the Robinhood launch frenzy, and a launchpad's best 30 days is the worst possible base to annualise from.

Hyperliquid routes ~99% of fees automatically and pump.fun has a contract lock to April 2027, while Lighter and Stonk buy back at the operator's discretion, so that policy can change.

Top 7 Perks | Variational Points +12% | Nado Private Invite | Kolo Free Card Issuance | $20 in KAST Points