In a bold move to restore investor confidence, the SOON Foundation has launched a $200,000 buyback program following a dramatic 41% price crash. This initiative aims to stabilize the token price and counter market manipulation. But will it be enough to revive SOON’s market value?
What Triggered the SOON Token Crash?
The SOON token experienced a severe 41% price drop on July 5, 2025, due to coordinated selling and shorting across major exchanges. Key factors included:
- Mass withdrawal of 22 million SOON tokens from Bitget
- Coordinated sell-off on platforms like Bithumb, Upbit, and Gate.io
- Large short positions opened on derivatives platforms
How the SOON Foundation Buyback Program Works
The foundation is offering token holders the ability to redeem SOON tokens at a fixed price of $0.14 each through their portal at redemption.soo.network. Key details:
| Program Feature | Detail |
|---|---|
| Total Funds | $200,000 |
| Fixed Price | $0.14 per token |
| Funding Source | Protocol-generated revenue |
Will the Buyback Program Stop Market Manipulation?
While the buyback program caused an immediate 5% price increase, questions remain about its long-term effectiveness against crypto market volatility. The foundation has:
- Denied involvement in the crash
- Provided wallet addresses as evidence
- Planned to burn and buy back 30 million tokens (3% of supply)
What This Means for Crypto Investors
The SOON Foundation’s response highlights the growing trend of buyback programs in cryptocurrency markets. Similar strategies have been employed by other projects facing volatility, with mixed results. Investors should consider:
- The program’s undisclosed duration
- Source of buyback funds
- Market conditions beyond the foundation’s control
FAQs About the SOON Buyback Program
Q: How long will the SOON buyback program last?
A: The foundation hasn’t disclosed the program’s duration, leaving investors uncertain about its long-term impact.
Q: Can the buyback completely reverse the price crash?
A: While buybacks can provide short-term support, broader market trends and investor sentiment play significant roles in long-term recovery.
Q: How does this compare to other crypto buyback programs?
A: Some projects have implemented multi-year buybacks worth hundreds of millions, but results vary based on execution and market conditions.
Q: Should I redeem my SOON tokens now?
A: This depends on your investment strategy and belief in the project’s long-term fundamentals beyond the current volatility.
