H surged roughly

↗8%

over the past 24 hours following a

due to its aggressive buyback program.

Buyback program draws attention

The Citrini Research report

highlighted H's buyback program, which directs over 90% of fees to buying back tokens and represents nearly half of all crypto buyback activity this year.

Leading Layer 1 performance

H jumped roughly

↗8%

over the past 24 hours, leading Layer 1 assets and outpacing the broader market's approximately

↗1.5%

gain over the same period, though trading activity declined roughly

↘52%

over the past week.

Short sellers facing pressure

Short sellers faced approximately $200M in liquidations over the past 24 hours while funding rates turned negative, meaning those betting against the price are paying a premium to maintain their positions.