Crypto projects committed 638 million dollars to token buybacks between January and the end of August 2026, setting a record above the 545 million dollars recorded in 2025. Allium Labs data shows Hyperliquid and Pump.fun carry nearly 90 per cent of this year's total. Hyperliquid alone set aside about 370 million dollars, directing almost all its eligible trading fees toward automatic purchases.
Economics & Markets··Morning
Token buybacks hit a record 638 million dollars
Crypto projects set aside 638 million dollars for token buybacks from January through the end of August 2026. Financial Times reporting on Allium Labs data places this eight-month span ahead of the 545 million dollars counted in 2025 and the 366,000 dollars seen in 2024. A token buyback is money a project reserves to repurchase its own token from the market. The 638 million dollars represents the year-to-date total and establishes a new high for the sector.[1], [2]
Hyperliquid and Pump.fun account for 90 per cent share
Hyperliquid and Pump.fun make up close to 90 per cent of the 638 million dollars total. Hyperliquid carries the heaviest weight with about 370 million dollars, while Pump.fun accounts for about 200 million dollars. The concentration means nearly all of the 2026 token-buyback capital sits within these two projects. Allium Labs includes both names within the same record sum.[1], [2]
Hyperliquid allocates 99 per cent of trading fees
Hyperliquid builds its 370 million dollars share by directing 99 per cent of eligible trading fees toward automatic token purchases. The mechanism converts the platform's trading activity directly into buyback volume. The 99 per cent fee allocation drives Hyperliquid's position at the centre of the 2026 record, separating its automatic accumulation from discretionary project spending.[2]
