Some $640 million in home currency was repurchased in the year of the encryption project, 90 per cent of which was Hyperliquid and pump.fun

On 31 August, the Financial Times reported that, since this year, the encrypted project had accumulated nearly $640 million in repurchases of its own currency in response to the continuing market downturn and to support its price. Allium Labs data show that the related buy-backs have reached $638 million since the current year, a further increase from $545 million in the same period last year, compared to $366,000 for the whole of 2024. In terms of project distribution, repurchase activities are highly concentrated in a small number of projects, of which Hyperliquid and Pump.fun together account for nearly 90 per cent of total repurchases of encryption projects this year, and represent the main driving force behind the growth in the overall repurchase scale. The repurchase of coins by the projecter usually means that it wishes to ease the pressure on the exchange of coins by reducing market flows, increasing the number of purchasers and boosting prices in the face of weak market performance. At the same time, the significant increase in the scale of repurchases this year over the same period last year also reflects the fact that more encryption projects have begun to use token repurchases as a response to market downturns。