Crypto Buybacks Hit Record $638M in 2026 Led by Hyperliquid, Pump.fun

Cryptocurrency projects have spent a record $638 million repurchasing their own tokens so far in 2026, a sharp increase from previous years, with decentralized exchange Hyperliquid and memecoin launchpad Pump.fun accounting for nearly 90% of the total activity. The surge highlights a growing trend of crypto protocols adopting shareholder-friendly practices to return value to token holders, even as the broader market faces significant headwinds. According to data from Allium Labs cited in a Financial Times report, the year-to-date buyback total has risen 17% from $545 million during the same period in 2025 and represents a dramatic escalation from just $366,000 across all of 2024.