Large-scale buybacks are one of the important forces supporting the prices of U.S. stocks, especially technology stocks. Nowadays, this phenomenon is also slowly starting in the crypto space, where project teams buy their own issued tokens with real money to reduce the circulating supply in the market, making it clear that the project teams are indeed taking action.
The following is a portion of tokens with buybacks (even with buybacks, caution is necessary. Be wary of project teams transferring tokens between themselves. Conduct thorough investigations into how project revenues are generated and whether buybacks can be sustained):
HYPE: Total amount approximately $645 million, with an average monthly expenditure of $65.5 million. This is the project with the largest buyback scale in 2025, and it has a sustained buyback plan.
Aster: Starting from December 8, the daily buyback amount will increase from $3 million to $4 million.
UNI: With the activation of the protocol fee switch, the proposal adjusted the original 0.3% transaction fee that was entirely allocated to liquidity providers (LPs), where 0.25% still goes to LPs, and the newly added 0.05% as protocol fees is specifically used to buy back UNI tokens in the open market and directly burn them.
Aave: A permanent token buyback plan has been approved, allocating $50 million annually from protocol revenue to buy back AAVE tokens.
INJ: Start date: The new community buyback plan officially starts on November 20, 2025. Before this buyback, Injective completed the first phase of the community buyback in October 2025, with a total amount of $32 million, burning a total of 6.78 million INJ tokens.
PUMP: Total amount approximately $138 million, with buybacks accounting for 3% of the total supply. Buybacks commenced in July, with an average monthly expenditure of about $40.47 million.
RAY: Total amount approximately $100 million (for buybacks and destruction). The buyback plan has been in place since 2022 and is a long-term ongoing action.
MPLX: Spent $13.78 million to buy back 6.5% of the total supply. The buyback funds come from half of the protocol’s revenue.
SKY: Used $78.82 million in surplus to buy back 5.4% of the total supply. Programmatic buybacks have been ongoing since its launch in February.
