Spend money to support the market? Crypto repurchase season is coming, and 12 projects collectively start to repurchase tokens

Author: Fairy, ChainCatcher

Edited by: TB, ChainCatcher

The crypto industry is ushering in a "buyback season".

The currency price is close to freezing point, and repurchase has become a new means of self-rescue.

At present, multiple project parties have begun to repurchase tokens on a large scale and spend a lot of money to support the market. Is this round of repurchase bet on long-term value or a helpless move under market pressure?

Repurchase tide: 12 projects start to repurchase tokens

In traditional financial markets, stock buybacks are often seen as a manifestation of companies' confidence in their own prospects, and the crypto industry is drawing on this logic. According to incomplete statistics, 12 projects have recently started or completed the repurchase plan. These projects are spread across multiple fields such as DeFi, infrastructure, and public chains, and the repurchase amounts and methods involved are different.

A list of recent repurchase projects (continue to pay attention to supplements):

Why is a wave of repurchase?

The current situation of the crypto market may be the direct driving force behind this wave of repurchase. Since the beginning of 2025, the uncertainty of the global macroeconomic combined with the overall pullback of the crypto market has caused a sharp drop in the prices of many tokens, and even the tokens of some projects have fallen to historical lows. Faced with market sluggishness and insufficient investor confidence, repurchase has become a strategy for the project party to stabilize the ecosystem and reshape market expectations.

More importantly, repurchases convey a key signal to the market - the project party is still confident in its future development and is willing to invest money to maintain the value of the token, rather than allowing the price to continue to bottom out.

As Crypto KOL Feifan said: "Repurchase may save altcoins. If even the project party is not optimistic about its own tokens, why should the market be attracted to it?"

Market divergence: Is it a value injection or **a poison to

quench thirst** ?

However, repurchase is not a panacea, it is more like a touchstone of market confidence. As for whether the repurchase wave can truly promote market development, or it may only be a short-term price stimulus, there are obvious differences within the industry.

On the one hand, supporters believe that repurchase is a positive feedback from the project party to its own value, which helps to enhance market trust; on the other hand, doubters believe that repurchase is only a temporary price bottom-up and cannot truly solve the long-term growth problem.

Crypto KOL qinbafrank believes that the emergence of a repurchase wave means that the project party has begun to pay attention to token value injection . In the past year, small-cap tokens have undergone strong clearance, which forces project parties to adopt a healthier growth path - either focus on real innovation value implementation, or lower the starting point of valuation, allowing secondary market investors to share growth dividends, or inject a part of their revenue into the token economic model to enhance the value of tokens. He compared the repurchase wave in the crypto market with the US stock repurchase wave, believing that if this trend continues, it will have a positive impact on the development of the industry.

The doubts are also strong. Crypto KOL Dayu said: "Repurchase is only a short-term positive and cannot truly support long-term value. Instead of consuming funds for repurchase, it is better to invest in product research and development and ecological expansion to build a more sustainable growth model." In his opinion, the improvement of market value lies in continuous innovation, rather than simple supply and demand regulation.

In this regard, Messari researcher MONK analyzed the limitations of repos. He noted that projects such as RAY, GMX, GNS and SNX have repurchased millions of dollars in tokens programmatically, but these tokens are currently worth much less than the repurchase cost. MONK said buybacks have nothing to do with price trends, which are driven primarily by revenue growth and narrative formation.

Repurchase is not the answer, but the trial

The repurchase wave may not solve the deep-seated problems in the crypto industry. The real and healthy development of projects depends on their own execution, innovation and changes in the industry environment.

Perhaps, the repurchase is just a prologue. The future of the industry needs more substantial breakthroughs to define it.