Hyperliquid led the way in crypto buybacks in 2025, allocating $644.64 million of its revenue to buybacks of HYPE coins, representing 46% of the total market spend on these operations. This figure exceeds the spending of nine other projects combined.
To date, 21.36 million HYPE have been repurchased, representing 2.1% of the total supply, with a monthly average of $65.5 million and a purchase price of $30.18 per coin.
In contrast, LayerZero executed a single transaction in September worth $150 million, acquiring 5% of ZRO tokens at $3.00.
While Pump.fun has spent $138.17 million since July, with a monthly average of $40.47 million, the tokens repurchased were at a loss following the market crash in October.
Other projects like Raydium, Rollbit, Bonk, Sun, and WOO have also contributed to the scene, amid a growing trend of buybacks as a tool to incentivize value and engagement.
Total buybacks in 2025 exceeded $1.4 billion, with average monthly spending of $146 million.
Spending accelerated in the second half of the year, jumping 85% in July.
As of mid-October, spending had reached $89 million, indicating continued momentum in this direction.
