Token Buybacks Cannot Rescue Weak Valuations, Ansem Says Crypto trader Ansem said token buybacks do not necessarily provide lasting support…
Token Buybacks Cannot Rescue Weak Valuations, Ansem Says
Crypto trader Ansem said token buybacks do not necessarily provide lasting support for valuations, pointing to the sharp gap between Hyperliquid and Pump.fun. The two platforms generate about USD 800 million and USD 440 million in annualized revenue, respectively, and both use part of their profits to repurchase tokens, yet HYPE carries a fully diluted valuation of roughly USD 65 billion versus about USD 1.4 billion for PUMP. Ansem arguing that Hyperliquid consistently rewards core users while Pump.fun’s still‑unfulfilled airdrop promise has weakened its “trust premium.”
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