Hyperliquid Crushes Competition with 46% of All Token Buybacks in 2025
Hyperliquid is main the token buyback in 2025, in keeping with CoinGecko. The platform has allotted over $644.64 million in income to repurchase its HYPE tokens by means of its Assistance Fund, which represents 46% of all token buyback spending this 12 months.
In truth, Hyperliquid’s buyback efforts are equal to the mixed spending of the subsequent 9 largest buybacks.
HYPE Buybacks Overshadow Market
To date, no less than 21.36 million HYPE tokens have been repurchased. This determine accounted for roughly 2.1% of the whole provide. Monthly buybacks have averaged $65.50 million, fluctuating from $39.14 million in March to a peak of $110.62 million in August, with a mean repurchase value of $30.18 per HYPE.
To put this into perspective, LayerZero ranks because the second largest token buyback, having spent $150 million in September to repurchase 5% of its ZRO provide, with a mean value of $3.00. However, this was a one-off discretionary buyback, and CoinGecko expects Hyperliquid’s ongoing program to take care of its dominance.
Meanwhile, Pump.enjoyable occupied the third spot because it spent $138.17 million on repurchases since July, averaging $40.47 million monthly, and capturing 3% of its complete provide. While Pump.enjoyable’s common buyback value of $0.0046 locations its repurchased tokens at a paper loss following the October 10 crypto crash, this system demonstrates a strategic strategy to produce administration.
Raydium, the Solana-based DEX, leads in token buyback-and-burn exercise after spending $100.35 million since 2022. Other notable tasks embrace Rollbit ($27.93 million), Bonk through Bonk.enjoyable ($27.30 million), Tron’s Sun platform ($3.03 million), and alternate WOO ($1.68 million).
Overall, CoinGecko recognized 28 tasks implementing significant buybacks in 2025, amidst a rising pattern in the business as tasks discover buybacks as a mechanism to return worth to holders and incentivize long-term engagement.
Token Buybacks Boom
Zooming out, token buybacks have surged to over $1.40 billion thus far in 2025. The pattern was largely fueled by Hyperliquid. On common, crypto tasks have spent roughly $146 million monthly repurchasing their tokens this 12 months. A big spike in September’s figures was linked to LayerZero’s one-off $150 million repurchase, although CoinGecko clarified that this announcement doubtless distorted month-to-month comparisons.
Excluding that, September’s complete buyback spending stood at $168.45 million. Interestingly, the tempo of buybacks has accelerated in the second half of 2025 as spending noticed a soar of 85% month-on-month in July. As of mid-October, tasks have already spent nearly $89 million, placing the month on target to log a fourth straight interval above the first-half common of over $99 million.
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