🚀 Buybacks are quietly becoming the new standard for crypto projects. 📌 In the last 3 months, the buyback value of tokens from projects with revenue has skyrocketed from ~$20M/week to a peak of ~$55–60M/week. - Hyperliquid: ~$24M/week, with even an $8M buyback in just 24 hours. - pumpfun: >$10M/week, totaling around ~$30M+. - Projects in the Solana ecosystem, Aave, GMX, Houdini Swap... are also continuously buying back tokens. 📌 With this volume of buybacks, it hasn't significantly impacted the reduction of free float in the market, but it sends a message: "we will continuously support the price," positively affecting holder sentiment. 📌 However, the key point of buybacks is that the project must maintain cash flow. The project must sustain its cash flow. When the cash flow stops, the project won't have money for buybacks. Subsequently, the buyback will become the project's treasury, but what will it be used for: Burn, Stake, create an incentive fund for users, or just a left hand buying while the right hand sells through various "project development" items. -> Buybacks cannot replace utility. They are a lever, not the foundation for the existence of crypto projects.