SOON Foundation Launches $200,000 Buyback Program to Stabilize Price After 41% Crash

The SOON Foundation has launched a $200,000 Token Redemption Program, offering token holders the ability to redeem their SOON tokens at a fixed price of $0.14 each. This initiative is intended to restore confidence following a sharp 41% price drop on July 5, 2025, when coordinated selling and shorting led to significant price volatility across major exchanges [1]. The buyback portal, accessible via redemption.soo.network, is funded by protocol-generated revenue and is expected to expand as more funds flow in from ongoing project developments [1].

The price decline was attributed to a mass withdrawal of 22 million SOON tokens from Bitget, followed by a coordinated sell-off on platforms including Bithumb, Upbit, and Gate.io. Simultaneously, large short positions were opened on major derivatives platforms, suggesting a deliberate and orchestrated market manipulation strategy [1]. The SOON Foundation has denied any involvement in the incident and provided wallet addresses to support this claim, emphasizing that the crash occurred amid significant growth efforts, such as new exchange listings and the upcoming release of key products [1].

In response to the volatility, the SOON community approved a proposal to burn and buy back a total of 30 million tokens—approximately 3% of the total supply—as a direct measure to address the market disruption [1]. The recent launch of the Token Redemption Program appears to be the first step in implementing this strategy. The price of SOON rose 5% following the announcement, reaching $0.15 and testing resistance at the 20-day exponential moving average [1].

The SOON Foundation has not disclosed the specific source of the buyback funds or the program’s expected duration, raising questions about the initiative’s long-term sustainability [1]. While buybacks can offer short-term price support, their effectiveness in reversing broader market trends remains uncertain. The broader crypto market continues to experience volatility, with other projects also adopting buyback and buy-forward mechanisms to stabilize value [2].

Industry observers have noted that recurring buyback programs can help manage price swings and rebuild investor trust. For instance, another token’s proposed buyback over four years totaled $440.26 million, illustrating the potential long-term impact of such strategies. However, these projections remain speculative, and the success of SOON’s program will depend on consistent execution and continued investor confidence [3].

The SOON Foundation described the redemption program as a stabilizing buffer during periods of volatility, emphasizing its role in protecting the token’s integrity and reinforcing long-term confidence [1]. As the program unfolds, its ability to attract sustained demand and maintain price stability will be key indicators of its success in the broader, unpredictable cryptocurrency market [1].

Source:

[1] Can SOON buyback program revive the token’s price after July crash? (https://crypto.news/can-soon-buyback-program-revive-the-tokens-price-after-july-crash/)

[2] Platinum Crypto Academy (https://www.platinumcryptoacademy.com/)

[3] 99Bitcoins (https://99bitcoins.com/cryptocurrency/best-crypto-to-buy/)