Token buyback has traditionally been a common strategy for many projects during periods of price decline. The sluggish market conditions coupled with investor pressure have led project teams to spend real money to buy back their own tokens in the market, attempting to stabilize the price.

However, recently the trend has shifted. The Helium project team has started to reconsider this strategy and even announced the abandonment of their buyback plans. The underlying logic is not complicated—project teams' funds are also shrinking. When costs for investment, development, and operations are depleting reserves, allocating funds for token buybacks becomes a somewhat luxurious choice.

This reflects a real issue: not all projects can sustain aggressive token buyback strategies indefinitely. During market downturns, project teams need to find a balance between maintaining the ecosystem and preserving cash reserves. Some projects choose buybacks to soothe the market, while others are forced to adjust their strategies and allocate resources more rationally. This change also serves as a reminder to investors not to overly rely on project buybacks to support prices—sustainable project development and genuine use cases are the long-term foundations.