I'm not surprised the Jupiter team is now floating the idea of stopping $JUP buybacks after spending $70M and being down +70% over the past year. In fact, only 2 buyback tokens were in the green last year. - $HYPE +7% - $SYRUP +108% Both these tokens also saw significant growth and outperformed in their individual categories. - Syrup saw its revenue 5x to $2.1M, while AUMs grew to $4.1B - Hyperliquid saw cumulative inflows of over $5.8b in a single day Jupiter saw declining DEX aggregator volume from Jan 2025 to Dec 2025 of -74% Buybacks by themselves cannot offset deteriorating fundamentals. The team is better off saving the money and reinvesting it back into user acquisition, marketing, and incentives that generate sticky liquidity. Data: @_dexuai @DefiLlama