Bitwise CIO: Tokens are capturing value through buybacks, and the market has yet to reprice

Comparing the news, Bitwise CIO Matt Hougan tweeted that the traditional idea that “tokens don't capture value” is out of date. He cited several agreements that are achieving value capture through repurchase and destruction mechanisms: Hyperliquid is using more than 97% of processing fees for repurchases (over $2 billion in total); Pump has destroyed 36% of supply and locked 50% of revenue for destruction; Uniswap has destroyed 107 million UNIs and the fee switch has been turned on; Aave has implemented automated repurchases; Aptos hardtop supplies and destroyed the 10-fold increase in fees; Solana is proposing to increase the cost by 12-14 times .

Hougan believes the market has yet to fully reprice these changes.