PANews reported on October 16th that, according to Coingecko, Hyperliquid led the way with cumulative buyback spending of approximately $645 million, accounting for 46% of the total buybacks in 2025, and repurchased approximately 21.36 million HYPE tokens (approximately 2.1% of the total supply). LayerZero announced a one-time buyback of $150 million in ZRO (5% of the total supply), while Pump.fun repurchased approximately $138 million in PUMP (3% of the total supply). Raydium spent approximately $100 million on buybacks and burns. Throughout the year, 28 projects implemented buybacks, totaling over $1.4 billion. GMX had the highest buyback per share, with cumulative buybacks accounting for 12.9% of the total supply. Buyback spending has increased significantly since the second half of the year. PANews reported on October 16th that, according to Coingecko, Hyperliquid led the way with cumulative buyback spending of approximately $645 million, accounting for 46% of the total buybacks in 2025, and repurchased approximately 21.36 million HYPE tokens (approximately 2.1% of the total supply). LayerZero announced a one-time buyback of $150 million in ZRO (5% of the total supply), while Pump.fun repurchased approximately $138 million in PUMP (3% of the total supply). Raydium spent approximately $100 million on buybacks and burns. Throughout the year, 28 projects implemented buybacks, totaling over $1.4 billion. GMX had the highest buyback per share, with cumulative buybacks accounting for 12.9% of the total supply. Buyback spending has increased significantly since the second half of the year.