Crypto trader Ansem has questioned whether token buybacks can create lasting value on their own, pointing to the wide valuation gap between Hyperliquid’s HYPE and Pump.fun’s PUMP.Â
Summary
- Ansem argues recurring token buybacks cannot overcome weak community trust or poor alignment with users.
- HYPE trades at a far richer valuation than PUMP despite both platforms using profit-funded buybacks.
- Pump.fun’s delayed airdrop remains central to Ansem’s view that PUMP lacks Hyperliquid’s trust premium.
In a July 17 X post, he argued that both businesses generate large revenues and regularly repurchase their tokens, yet the market values them very…
