Can token buybacks push up prices? This question is changing the strategic thinking of project teams.

Take Jupiter as an example. Last year, they invested $70 million in token buybacks, yet the price still declined. The project team concluded: rather than continue pouring money into buybacks, it’s better to allocate funds to product development and user growth. The logic is very realistic — buybacks can theoretically boost prices, but market reality is often different.

Helium’s approach is more straightforward: stop the buyback program.

This reflects an interesting shift. In the past, many projects regarded buybacks as a reassurance for investors, as if spending money on buybacks meant confidence in the project. But the data speaks — when the market lacks growth stories and genuine user demand, simple buyback operations have limited effect. Smart projects are beginning to optimize capital allocation: shifting from passive stabilization through buy orders to proactive ecosystem development.

This is actually a positive signal for the entire Web3 ecosystem. It shows that project teams are becoming more rational rather than blindly following trends. In the long run, what truly drives token value are the rooted user base, well-developed products, and sustainable business growth.