Token Buyback Wave in Crypto: 5 Projects to Watch in 2026

Token buybacks are once again at the center of crypto market discussions. 

After years of debate around whether buybacks actually work for tokens, 2025–2026 has seen renewed focus driven by real revenue, changing market structure, and a growing comparison between crypto tokens and traditional equities.

While critics argue buybacks are often cosmetic, supporters believe they remain the most “token-native” way to return value—especially as the line between Web2 and Web3 continues to blur.

Key Takeaways

• Token buybacks are regaining relevance as revenue-backed protocols mature
• Buybacks only matter when they exceed token unlocks and emissions
• A small group of projects shows relative strength driven by real buyback scale

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Why Token Buybacks Are Back in Focus

The renewed attention around buybacks was partly sparked by high-profile cases such as Helium pausing its program and Jupiter (JUP) re-evaluating over $70 million in past buybacks. 

These events reignited the broader “token is useless” narrative—especially as many utility tokens continue to underperform meme coins, PoW assets, and privacy coins.

At the same time, macro trends are reshaping the debate:

• Web2 and Web3 business models are converging
• Nasdaq may move toward 24/5 trading, further blurring crypto–equity boundaries
• Crypto M&A increasingly favors equity over tokens, sidelining tokenholders

In this environment, investors are asking a hard question: Why buy tokens that teams are selling, instead of stocks that generate revenue?

Read Also: OpenSea to Launch SEA Token in 2026 with 50% Revenue Buyback

Buybacks vs Dividends vs CAPEX

Most crypto teams face three capital allocation options:

1. Dividends – Direct distributions are attractive but carry heavy regulatory risk
2. CAPEX – Necessary for growth, but long-term and often misaligned with short token cycles
3. Buybacks – The most token-native mechanism available today

Because dividends remain legally unclear and CAPEX takes time to reflect in token prices, buybacks have emerged as the default choice. 

However, this only works when buybacks are large enough to offset token unlocks—a condition very few projects currently meet.

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5 Crypto Projects Leading the Token Buyback Wave

Based on cumulative buyback data, revenue scale, and market behavior, these five projects stand out as ones to watch in 2026.

1. BNB

BNB remains the gold standard for token buybacks. Binance’s quarterly burn mechanism has resulted in over 32% cumulative buybacks, backed by hundreds of millions in annual revenue. Its consistency and scale make BNB a benchmark for all other buyback programs.

2. Rollbit (RLB)

RLB has emerged as a standout example where buybacks visibly exceed emissions. With aggressive revenue-based buybacks and a strong burn mechanism, RLB is often cited as proof that buybacks can work when properly sized.

3. Bonk (BONK)

Despite being a meme coin, BONK’s buyback and burn activity—combined with strong ecosystem engagement—has allowed it to show relative strength. This reinforces the idea that reduced unlock overhang matters more than utility narratives alone.

4. Jupiter (JUP)

While controversial, Jupiter’s buyback history and ongoing governance discussions make it an important case study. If revised buybacks are paired with stricter emissions control, JUP could regain investor confidence.

5. GMX

GMX combines fee sharing with periodic buybacks, offering one of the clearest links between protocol usage and token value. Its hybrid model may represent where buybacks are headed next.

Read Also: The Primary Purpose of Token Burning in Crypto and Its Goals

Why Buybacks Often Fail to Support Prices

Experts largely agree that buybacks fail when they are:

• Too small relative to daily trading volume
• Overwhelmed by vesting unlocks and emissions
• Executed inconsistently or at market tops

In 2025 alone, protocols spent over $1.4 billion on buybacks, yet many tokens remained flat. Without meaningful supply reduction and clear tokenholder rights, buybacks alone cannot fix weak tokenomics.

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When Buybacks Actually Work

Buybacks tend to work best when:

• Funded by recurring, transparent revenue
• Large enough to exceed unlock-driven sell pressure
• Executed predictably and rules-based
• Paired with real supply reduction or burns

Ultimately, buybacks work as a consequence of success, not a substitute for it.

Read Also: Pump.fun Buy Back Strategies: Here is What You Must Know

Conclusion

The current token buyback wave reflects a deeper identity crisis in crypto. As investors increasingly compare tokens to equities, projects must justify why their tokens deserve capital. Buybacks are not wrong—but they must be large, disciplined, and revenue-backed to matter.

In 2026, the winners will be projects where buybacks outpace unlocks, narratives are backed by numbers, and token value capture is no longer theoretical.

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FAQ

What is a token buyback in crypto?

A token buyback is when a project uses revenue to repurchase its own tokens from the market, often to reduce supply or support token value.

Are token buybacks good for price?

They can be—but only if buybacks are large enough to outweigh selling pressure from token unlocks and emissions.

When Buybacks Actually Work

Buybacks tend to work best when:

• Funded by recurring, transparent revenue
• Large enough to exceed unlock-driven sell pressure
• Executed predictably and rules-based
• Paired with real supply reduction or burns

Why are buybacks preferred over dividends?

Dividends carry regulatory risk, while buybacks are currently the most token-native and legally flexible way to return value.

Which crypto projects have the strongest buybacks?

Projects like BNB, RLB, GMX, BONK, and potentially JUP stand out due to scale, revenue backing, or reduced unlock pressure.

Disclaimer: The views expressed belong exclusively to the author and do not reflect the views of this platform. This platform and its affiliates disclaim any responsibility for the accuracy or suitability of the information provided. It is for informational purposes only and not intended as financial or investment advice.