TL;DR:
- MET token rises nearly 30%, reclaiming $0.51 as post-airdrop slump fades.
- Meteora generates $1.12B in annualized fees, approaching Uniswap’s multi-chain performance.
- Weekly volumes exceed $5B; liquidity and new exchange listings may fuel further growth, though a short-term correction is possible due to concentrated whale activity.
Meteora’s MET token is regaining momentum after its initial post-airdrop slump, with traders eyeing its DEX activity and fee generation. MET expanded nearly 30%, reclaiming a price above $0.51, though it has yet to return to its initial post-airdrop high of $0.61. The token’s recovery reflects renewed buying interest, especially as trading volumes on Bybit surged in recent weeks.
ADA-Like Performance as Meteora Races Toward Top DEX Status
Open interest is building, with $62M in positions, primarily on the Bybit derivatives market. A top whale has realized $1.4M in profits, while other influential holders mostly exited with smaller gains. Active decentralized pairs, including one with $4.5M in liquidity, support the rally. The token’s trajectory depends on liquidity inflows and additional exchange listings, which Meteora encourages to strengthen pool depth.
Meteora ranks among Solana’s top 10 fee producers, generating $1.12B in annualized fees and $102M in October alone. It is closing in on Uniswap, which commands $1.31B in annualized fees and $132M for October. Unlike Uniswap’s multi-chain reach, Meteora’s success stems solely from Solana, making its performance particularly notable.
The DEX facilitates trades between stablecoins and popular meme tokens, occasionally spiking during brief activity surges for assets like TRUMP and MELANIA. Weekly volumes surpass $5B, positioning Meteora just behind Raydium, Solana’s leading DEX. The platform also expects token burns and buybacks, similar to recent UNI activity, which could push MET into a higher price range.
Renewed trader optimism is evident, with only four whales actively using Hyperliquid and one holding a significant long. Additional centralized exchange listings, coupled with liquidity growth, could further accelerate MET’s price discovery. Analysts note that while the current 30% rally is impressive, a short-term correction is possible given the rapid gains and concentration of whale activity.
