According to CoinMeta, and as reported by the Financial Times, crypto projects spent approximately $638 million on repurchasing their native tokens from January to August 31, 2026, which represents a 17% increase from $545 million during the same period in 2025. Among them, Hyperliquid and Pump.fun accounted for nearly 90% of the total repurchase amount. The repurchase mechanism has quickly become a part of decentralized finance, and the repurchase program of Hyperliquid is the largest revenue-funded repurchase project in the sector.