Meteora's MET Token Rockets 18% Amid Reward Campaigns and Surging Activity

Meteora's native token, MET, has seen an impressive 18% price surge in recent days. The rally is attributed to a series of reward campaigns aimed at incentivizing stakers and traders who refer liquidity providers.

The protocol has accumulated $20.3 million in fees generated from the market over the last 30 days, with around $1.03 million coming from the past 24 hours alone, according to DeFiLlama data.

Traders' usage of the protocol has been on the rise, indicating growing bullish conditions in the market. Active Addresses have increased by over 40,000 between September 1 and 10, reaching a high of 151,706 in the past day.

The number of transactions on Meteora has also surged, hitting over 4.19 million in recent days, up from 2.96 million as of September 1. This significant increase in activity has likely impacted the asset's performance in the near term.