Finance

Meteora’s $MET Token Goes Live, A New Phase for Solana’s DEX…

2 days ago
Bitcoin Ethereum News

$MET, the native token of Meteora, is officially live. Trading opened across major Solana-based Dex and CEX platforms, currently with a $280 million market cap.

Meteora, built on Solana, positions itself as a secure, sustainable, and composable liquidity infrastructure, a foundational piece for the growing DeFi ecosystem on Solana.

The project’s launch has been one of the most anticipated in the Solana community this quarter.

$MET Goes Live Across Multiple Platforms

Trading for $MET went live on Jupiter, Moonshot, Phantom, Binance Alpha, OKX Wallet, Bybit, BitMart, and several other platforms.

That broad launch across both DeFi and CeFi venues reflects the project’s dual focus, staying deeply rooted in the Solana ecosystem while expanding liquidity access globally.

According to Meteora’s official X post (@MeteoraAG), the launch is designed for long-term believers, not short-term flippers.

“We are here for the long term, so this TGE is designed exactly for long-term players. Around 50% of tokens in circulation reflects exactly this belief,” the team wrote.

The tone is clear, Meteora is betting on sustainable liquidity growth rather than hype-driven trading.

A Strong First Day and Long-Term Focus

Despite the noise around the launch, the Meteora team says they’re keeping focus.

“We’ll finish the day strong and start focusing on what we do best, building the future of liquidity with the best team, best community, and now, our token,” the team added.

That confidence isn’t misplaced. Meteora’s ecosystem metrics already position it among Solana’s top-performing DEX infrastructures.

According to on-chain data:

  •  $1.069 billion daily trading volume, that’s 26% of Solana’s total DEX market share.
  •  $3.88 million daily fees, nearly 8x higher than Raydium, which records around $537 million in daily volume.
  •  $829 million Total Value Locked (TVL), growing 15% quarterly, fueled by the rapid adoption of its Dynamic Liquidity Market Maker (DLMM) model.
  •  150K–200K daily active traders, many of whom are deeply engaged with Solana’s thriving memecoin scene.

These numbers show that Meteora isn’t just another DEX, it’s quickly becoming the liquidity engine of Solana DeFi.

The Airdrop Buzz, TRUMP and MELANIA Wallets Lead the Pack

But while the TGE is getting praise for execution, the airdrop distribution has sparked controversy.

Blockchain intelligence firm Arkham identified that the top five recipients of the $MET airdrop are connected to the TRUMP memecoin team.

Three addresses, linked to the TRUMP developer and early liquidity providers, collectively received a $4.2 million airdrop.

All three wallets later deposited their entire allocations to OKX, suggesting either a planned exit or quick liquidity rotation.

Adding fuel to the fire, Arkham’s analysis also showed similar wallet activity from the MELANIA memecoin ecosystem.

MELANIA Team Among Top $MET Recipients

Three wallets connected to $MELANIA received a total of 2.2 million MET, worth roughly $1.5 million.

According to the report, these included the developer’s address and two wallets tied to the Melania LP pool.

Four wallets were identified in total, but only three were eligible for the airdrop.

The overlap between Meteora’s airdrop and meme project addresses has drawn mixed reactions. Some traders see it as proof of real ecosystem participation, meme tokens have driven much of Solana’s liquidity this year. Others view it as an optics problem, given recent legal noise.

Legal Shadows, Founder Faces Lawsuit

On the same day as the TGE, reports surfaced that Meteora founder Benjamin Chow was named in a U.S. class-action lawsuit.

The suit alleges Chow was involved in orchestrating two meme coin scams, “MELANIA” and “LIBRA.”

The allegations haven’t been proven, but the timing couldn’t have been worse.

Despite the lawsuit headlines, $MET’s price has held firm through its opening hours. According to Coingecko, $MET trades at a $280M market cap, with healthy liquidity and rising volume across Solana DEXs.

Why Meteora Still Stands Out

Controversies aside, Meteora’s fundamentals are hard to ignore.

The project’s DLMM model (Dynamic Liquidity Market Maker) has quickly become the preferred liquidity system for many Solana-based memecoins and trading pairs.

Unlike static AMMs, DLMM dynamically adjusts liquidity to market conditions, improving execution efficiency while reducing slippage.

That efficiency is one reason why memecoin traders have embraced Meteora. Tokens like $WIF, $POPCAT, and $TRUMP have consistently seen some of their highest volumes routed through Meteora pools.

The result: 26% of Solana’s entire DEX volume now flows through Meteora.

That kind of market share, achieved before the TGE, makes Meteora one of the few DEX platforms actually earning before launching.

Community and Transparency

The Meteora community has been quick to defend the project amid the noise. Many point out that airdrops naturally favor liquidity providers, and TRUMP/MELANIA-linked wallets were simply active participants in the early liquidity campaigns.

Transparency has also been a recurring theme. The Meteora team maintains active communication across X, posting real-time data updates and community breakdowns.

With the TGE complete, Meteora’s next focus is clear, build and expand liquidity tools across Solana DeFi.

If it maintains even half of its current volume and fee performance, it could soon challenge Jupiter for dominance in Solana trading infrastructure.

A $280M mc amid legal and airdrop controversy would sink most projects. Meteora seems to be using it as fuel.

The DEX is proving that execution and metrics speak louder than noise.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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Source: https://nulltx.com/meteoras-met-token-goes-live-a-new-phase-for-solanas-dex-leader/