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Meteora’s TGE: What is fair value for MET?

Meteora is set to launch its Token Generation Event (TGE) on Thursday, Oct. 23, opting for an airdrop model rather than a pre-sale. Eligible recipients will include stakeholders from Mercurial, Meteora LPs, and partners. The project follows the sunset of its predecessor, Mercurial, due to ties with the FTX insolvency. At the TGE, 48% of the total supply of MET (1 billion tokens) will be in circulation, a higher float compared to other Solana projects. The ecosystem aims to leverage its DEX capabilities integrated with Jupiter, aiming to counterbalance competition in the decentralized exchange market. Recent revenues have peaked at $8.8 million over the last month, and projections suggest annualized revenues between $75 million and $115 million. Based on comparisons with Raydium and Orca’s price-to-sales ratios, MET could be valued between $450 million to $1.1 billion post-launch. Existing comparisons suggest a valuation over $1 billion could be overvalued unless revenue growth is achieved.

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SharpLink adds 19,000 ETH, lifting holdings to $3.5B as companies buy the dip

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