Sky Co‑Founder RuneKek Buys 16.38 Million SKY Tokens Using ENA Proceeds

Sky Protocol’s latest repurchase of over 17 million tokens adds to its cumulative buybacks exceeding 1.14 billion SKY, underscoring sustained market accumulation efforts.

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Summary

Sky Protocol repurchased 17.32 million SKY tokens last week for $1.39 million, bringing its cumulative total buybacks to 1.14 billion SKY tokens. This follows earlier reports of Sky co‑founder RuneKek using staking rewards and ENA sales to amass 122 million SKY valued at $10.21 million since June.

Terms & Concepts
  • Staking Income: Earnings generated from holding and locking cryptocurrency in a network, used here to fund token buybacks.
  • Token Buyback: The repurchase of tokens from the market by individuals or organizations to increase holdings or signal confidence.