Meteora, Solana's third-largest decentralized exchange (DEX) by cumulative volume, is gearing up for Thursday's token launch, with a pre-market perpetual derivative pricing the token at a fully diluted valuation (FDV) of $1 billion.
HyperLiquid’s MET pre-market opened at a valuation of $1.8 billion on October 10, just 12 hours before the altcoin market crashed. Although its valuation was maintained after the crash, MET has since gradually declined and now trades at an FDV of $1, or $1 billion.
MET Perp – Hyper Liquid
Earlier today, the DEX also announced a new suite of products including a presale vault, a launchpad called “Meteora Invent,” and dynamic fees.
The three-pronged approach aims to make Meteora the go-to destination for token launches on Solana, enabling multiple launch types and versatile fee distribution mechanisms.
In 2024, most of Solana DEX's volume occurred on Raydium, but Meteora's volume exploded in January 2025 as pumpfun was using Raydium as its default token bonding DEX and the initial liquidity pool for the TRUMP meme coin was on Meteora. In the same month alone, DEXs processed $40 billion. This represents 18% of the cumulative transaction value of $224 billion.
