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Pump Leads Solana Protocols with $205 Million Token Buyback

Data from SolanaFloor shows Pump repurchased 13.8% of its PUMP token supply in five months, surpassing Raydium in total buybacks.

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Summary

Pump has repurchased more than $205 million worth of its PUMP tokens over five months, according to SolanaFloor data. This buyback represents 13.8% of the circulating supply and places Pump ahead of Raydium, making it the leading protocol on the Solana blockchain by total buyback amount.

Terms & Concepts
  • Token Buyback: A process where a project repurchases its own tokens from the market, often to reduce supply or support token value.
  • Circulating Supply: The total number of cryptocurrency tokens currently available and active in the market.
  • Solana Blockchain: A high-performance blockchain network known for low transaction costs and fast processing speeds.