MET's $1M Glow-Up Has Traders Locked In — Literally 🔒

Meteora [MET] climbed 14% over the past 24 hours as capital flowed back into the protocol and broader crypto markets posted a relief rally. The move has been underpinned by a sharp rise in total value locked (TVL), with roughly $55.53 million added over the past 23 days. Rising TVL typically reflects growing investor conviction, since locking assets signals a longer-term bullish stance and a desire to earn the protocol's APY.

Protocol utility has tracked the same trajectory. DEX trading volume on Meteora has climbed from $101.93 million around June 27 to nearly $195.3 million at press time, nearly doubling over the stretch. Revenue generation has kept pace, with gross revenue reaching $944,590 in less than 48 hours and gross profit of $108,080, slightly over 11% of revenue generated in the same window.

On Solana, Meteora continues to rank 13th by TVL and generated more fees over the past 24 hours than Jupiter [JUP] and Sanctum combined, the two largest Solana protocols by TVL. Despite that top-line strength, Holder Income — the value returned to governance token holders — has fallen from $12.68 million in Q4 2025 to just $47,770 in Q2 2026.

In the derivatives market, buying volume on MET perpetuals has risen alongside a positive OI-Weighted Funding Rate of 0.0059% at press time, indicating that most capital is positioned for further upside, though only modestly so. The combination of rising TVL, growing DEX volume, and improving fee generation has supported the token's latest move.