Hyperliquid and Pump.fun Drive Nearly 90% of 2026 Crypto Buybacks

Crypto projects have spent a record $638 million on token buybacks so far in 2026, according to figures cited by the Financial Times and reported by Cointelegraph. Hyperliquid and Pump.fun account for nearly 90% of that total, highlighting the concentration of buyback activity among a small number of protocols. The broader trend reflects more crypto projects directing protocol revenue toward repurchasing their tokens, with the stated aim of returning greater value to token holders. Hyperliquid’s HYPE and Pump.fun’s PUMP are among the assets linked to the reported activity. The figures cover buybacks completed through the reporting period in 2026 and do not indicate future spending or token performance.