A new ranking from cryptocurrency analyst The DeFi Investor has highlighted which blockchain protocols are actively repurchasing their native tokens, grouping them by market capitalization.
The list provides a snapshot of projects attempting to boost investor confidence through buybacks, a strategy aimed at reducing circulating supply.
Smaller-cap projects making buybacks include Silo Finance (SILO), Gearbox (GEAR), and Natix Network (NATIX). These tokens operate in the niche end of the market, where liquidity can be thin and buybacks may have a more pronounced impact on price action.
Mid-tier projects in this range are Kaito (KAITO), DeFi App (HOME), DeBridge (DBR), and Aevo (AEVO). For many in this category, buybacks serve both as a marketing signal and a way to manage inflationary pressures in their token economies.
EtherFi (ETHFI), Maple Finance (SYRUP), Raydium (RAY), and dYdX (DYDX) fall into this upper-mid market segment. These projects often have deeper liquidity pools, making the impact of buybacks less immediately visible but still relevant for long-term holders.
The largest players running buybacks include Hyperliquid (HYPE), AAVE (AAVE), Chainlink (LINK), Pump Fun (PUMP), Jupiter (JUP), and Sky (SKY). For these established names, repurchases are generally part of broader treasury management and ecosystem incentives rather than emergency price stabilization.
While buybacks can signal confidence from teams and attract investor interest, the analyst noted a key caveat: many DeFi-focused projects have unlimited token supply and rely on high inflation to fund rewards. This can dilute the effect of buybacks over time, especially if issuance rates outpace repurchases.
With tokenomics playing an increasingly important role in valuation, traders are watching how sustained buybacks – particularly from larger caps – might influence sentiment in the next market cycle.
