In 2025, crypto token buybacks saw over $880 million spent, yet prices often stalled, raising questions about their effectiveness. Optimism recently announced a 12-month token buyback program, allocating 50% of Superchain revenue to monthly OP token purchases. Hyperliquid led buyback programs with $644.6 million spent, followed by Pump.fun (PUMP) at $138.2 million, Jupiter (JUP) at $57.9 million, and Ethena (ENA) at $40.7 million. While buybacks initially boosted prices, their impact diminished by year-end, leading to debates about their value versus investing in growth. The effectiveness of buybacks now hinges on market saturation and focus on revenue durability.

In 2025, crypto token buybacks saw over $880 million spent, yet prices often stalled, raising questions about their effectiveness. Optimism recently announced a 12-month token buyback program, allocating 50% of Superchain revenue to monthly OP token purchases. Hyperliquid led buyback programs with $644.6 million spent, followed by Pump.fun (PUMP) at $138.2 million, Jupiter (JUP) at $57.9 million, and Ethena (ENA) at $40.7 million. While buybacks initially boosted prices, their impact diminished by year-end, leading to debates about their value versus investing in growth. The effectiveness of buybacks now hinges on market saturation and focus on revenue durability.