Analyst: Evaluating Token Buybacks Cannot Ignore Inflation; HYPE Buybacks Outperform PUMP, AAVE, and JUP

Crypto analyst Ignas posted that when evaluating the effectiveness of token buybacks, token inflation and changes in circulating supply must also be considered. Year to date, PUMP buybacks have amounted to $407 million, yet circulating supply still grew by 29.5%; AAVE buybacks totaled $11.2 million, with net new supply of $31.7 million over the same period; JUP buybacks reached $9.9 million, with net new supply of $32.9 million.

By contrast, HYPE buybacks have reached $791 million year to date, with circulating supply growing only 0.43%. In addition, MORPHO's price has risen 81% year to date; excluding dilution from token inflation, the gain could have been approximately 2.3x.