In a bold move to restore investor confidence, the SOON Foundation has announced a $200,000 buyback program following a dramatic 41% price crash. Will this initiative be enough to stabilize the SOON token and counter market manipulation?
What Triggered the SOON Token Price Crash?
The SOON token experienced a sharp 41% drop on July 5, 2025, due to coordinated selling and shorting across major exchanges. Key factors include:
- Mass withdrawal of 22 million SOON tokens from Bitget
- Coordinated sell-off on 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 redemption at $0.14 per token through redemption.soo.network. Key details:
| Program Feature | Detail |
|---|---|
| Total Budget | $200,000 |
| Fixed Price | $0.14 per token |
| Funding Source | Protocol-generated revenue |
Will the Buyback Program Stabilize the Cryptocurrency?
Initial market response was positive with a 5% price increase to $0.15. However, challenges remain:
- Undisclosed program duration raises sustainability questions
- Market manipulation patterns may continue
- Broader crypto volatility persists
Community Response and Future Plans
The SOON community approved burning and buying back 30 million tokens (3% of supply). The foundation emphasizes this as part of broader growth efforts including new exchange listings and product releases.
Conclusion: A Critical Test for SOON Token Stability
The buyback program represents a decisive response to market turmoil. Its success will depend on consistent execution and ability to rebuild long-term investor trust in this volatile cryptocurrency market.
Frequently Asked Questions
Q: How long will the SOON buyback program last?
A: The foundation hasn’t disclosed the program duration, leaving sustainability questions unanswered.
Q: Can I still participate in the token redemption?
A: Yes, through the official portal at redemption.soo.network at $0.14 per token.
Q: What caused the SOON price crash?
A: Coordinated selling, large withdrawals from Bitget, and aggressive short positions appear to have triggered the 41% drop.
Q: Is this buyback program common in cryptocurrency?
A: Yes, other projects have used similar mechanisms, with some proposing multi-year programs worth hundreds of millions.
