According to Foresight News, BounceBit has repurchased 8.87 million BB tokens from the open market in the past week. Combined with its annualized protocol revenue of about $16 million, the project party stated that the buyback action will continue to advance.
From the perspective of market impact, buybacks mean a reduction in circulation, which supports prices to some extent. More importantly, this continuous buyback behavior releases the project's confidence in its ecosystem and token value, while also reflecting a sufficient operational status.
In the short term, large-scale buybacks may relieve market selling pressure and provide stable support for prices; in the medium to long term, if protocol revenue remains stable and continues to be used for buybacks, the market expectations for BB tokens are likely to improve further. Overall, the news of this buyback is generally favorable for market sentiment and price trends.
