The post Sky Protocol buyback program starts paying off as SKY token jumps 12% appeared on BitcoinEthereumNews.com.

Sky Protocol has spent nearly $75M on buybacks since February 2025. SKY token has risen by 12.6% in a week, nearing previous highs. Buybacks reduced supply and boosted investor confidence. The price of the SKY token has jumped 12.6% over the past seven days as the Sky Network buyback program starts to bear fruits. The steady rise comes after months of token repurchases, with Sky Protocol investing tens of millions of dollars to reduce supply and stabilise market confidence. Sky Protocol’s buyback strategy Sky, formerly known as Maker before rebranding in August 2024, has made headlines with its aggressive buyback plan. Since February this year, the protocol has used nearly 75 million USD to purchase SKY tokens directly from the market. The most recent update revealed that in August alone, Sky spent 5.5 million USD to acquire 73 million tokens. Notably, this consistent activity has helped to gradually lift the token’s price. In late February, SKY was trading just above six cents. Today, it is changing hands at a little over seven cents, and while the number may look modest, it marks a meaningful recovery for a token that had faced periods of volatility. The buybacks are designed to reduce circulating supply, creating upward pressure on value while signalling financial confidence from the project’s side. SKY token price recovery gains momentum Market data from Coingecko shows that SKY has gained more than 12% in the past week, outperforming several other decentralised finance tokens. The token’s performance since the start of the buyback has been steady, rising over 8% across six months despite broader market swings. In late July, SKY even touched 9.6 cents, getting close to its all-time peak of just over ten cents recorded in December, before taking a surprising dip to just above six cents in August. By…

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Filed under: News - @ September 2, 2025 11:28 am