Token buybacks are losing their magic in 2026.

Last year, buyback became the hottest story everyone was chasing. But here's the thing—when everyone's talking about the same narrative, its shelf life gets shorter.

Let's break down how buybacks actually work: projects buy back their own tokens, which pumps buy pressure into the market. Sounds simple enough? The problem is sentiment rides on it for a while, then reality kicks in.

Buybacks can only carry you so far. What really matters underneath? Actual revenue flowing in. Without real fundamentals backing it up, the repurchase effect becomes just another temporary band-aid. Once the cycle flips and fresh money dries up, you're left holding the bag.