Meteora Fees Fuel 18% Price Surge Amid Growing Activity

Meteora's native token MET has seen an impressive 18% price surge in recent days, thanks in part to a significant increase in fees generated by the protocol. According to data from DeFiLlama, Meteora accumulated $20.3 million in fees over the last 30 days, with $1.03 million of that coming from the past 24 hours.

The surge in fees is largely due to the recent reward campaigns aimed at incentivizing stakers and traders who referred liquidity providers. Traders received rewards for locking up MET and earning a percentage of the fees generated by the protocol.

Activity on Meteora has been on the rise, with Active Addresses growing by over 40,000 between September 1 and 10. The number of transactions also increased, hitting 4.19 million, up from 2.96 million as of September 1.