X @wale.moca 🐳

Buyback Analysis - Raydium, Pumpfun, and XBorg exhibit the largest buybacks relative to circulating supply [1] - Hyperliquid, Jupiter, and Kaito follow Raydium, Pumpfun and XBorg in buyback size relative to circulating supply [1] - Buybacks are viewed as a method to distribute business profits to token holders [1] - Projects generally fund buybacks using business revenue [1] Market Perspective - Smaller market cap projects like XBorg are also implementing buybacks [1] - Token buybacks represent a positive shift in the market [1] - Previously, tokens were primarily governance or memecoins [1] - Teams often avoid linking revenue to tokens due to valuation implications [1] - Projects implementing buybacks are likely to be valuable [1]