Buybacks are starting to matter again.

Top 10 projects spent $127M on token buybacks over the last 30 days.

Here’s how their tokens performed over the same period:

$RAY +155%
$UNI +76%
$JUP +59%
$CAKE +44%
$PUMP +42%
$LINK +33%
$BONK +32%
$SKY +25%
$HYPE +14%
$ASTER +11%

Notice anything?