Buyback tokens should increase in price due to this. I used DeFiLlama to see through the list of tokens that might be undervalued here. The tokens are weighted by P/F, P/S, 30 day revenue and revenue growth. I think the drawback here is that the score rewards cheap P/F, cheap P/S, high revenue, high growth, and high mcap, but it has zero weight on token unlock/dilution pressure, revenue durability, or competitive moat, and narratives in itself. Like what I mean is that a token can rank #3 purely because its multiples are compressed, even if the business itself is going down. For several of them (ARB, SKY, ETHFI, NEAR, LDO, AAVE) they have not very high buybacks, and/or the fee switch is off atm. Also, 5/20 names are within the Solana ecosystem (RAY, PUMP, ORCA, solana:JUPyiwrYJFskUPiHa7hkeR8VUtAeFoSYbKedZNsDvCN, solana:jtojtomepa8beP8AuQc6eXt5FriJwfFMwQx2v2f9mCL), and IMO all of them will rise/fall together with the general Solana trading volume and SOL price/sentiment. If we were to see a big drawdown in the market in general, most of this list's revenue will get hit simultaneously since they're based on trading/swap volume. HYPE stands out as the highest-quality name by absolute revenue ($58.3M/30d) and active buyback+burn (97% which is sick AF), but it's also the most expensive on P/F (22.7x) in the top half of the list. With that said, I do have to say that RAY, AERO, and PUMP look the most interesting to me. But Raydium is heavily dependent on Stonkfun (StonkFun began routing every new token launch through Raydium, which is why Raydium's fees has 5x'ed in this period). Will that continue? As always, Hyperliquid looks great and is a cash machine, but maybe the pricing is fair where it is rn at $93?