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俊杰 (Jùn Jié)
🚨 Buybacks can make a token look strong. Revenue tells you if it actually is.
Crypto projects have spent roughly $638M on token buybacks in 2026, up from $545M over the same period last year.
But here’s the part that really caught my attention:
👉 Almost 90% of that spending came from just two protocols — $HYPE and $PUMP.
So I don’t think the real story is the buyback.
The real story is the revenue powering it.
Take $HYPE.
Hyperliquid generated roughly $1 i#DailyOrbit
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