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2026-09-01：The Cash-Flow Paradigm: Protocol Buybacks Eclipse Token Scarcity as Corporate Treasuries Resume Aggressive Accumulation
A record $640 million in crypto token buybacks should be a bullish blockbuster. Instead, the market is barely moving. Why? In this episode, DeepMarket follows the money from MicroStrategy's return with a roughly $370 million Bitcoin purchase to the less comfortable detail that nearly 90 percent of protocol buybacks are concentrated in just Hyperliquid and Pump.fun. We unpack the collision between corporate accumulation, looming token unlocks, and a market still pricing a 58 percent chance of a September Fed hike. Can Ethereum's $824 million ETF inflow overcome its seasonal weakness? Why is…
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