Met is already down to 0.9 pre-market, FDV is less than 1B. I’m pretty surprised. In my opinion, Meteora is genuinely a solid and hardcore innovative DeFi project. Plus, plus, it’s definitely going to survive the next cycle, and the cycle after that, and the cycle after that. If you know, you know. Yesterday, it dropped from 1.6, and at that time, I guessed it might be because an on-chain MEV whale entered to arbitrage. Based on Meteora’s CAMM launch rules, the first buyer, after paying the 50% tax, would have a buy-in price of roughly 1B. The first few blocks of buying were around the 1B price range, so MEV whales could directly coordinate pre-market and opening snipes for arbitrage. Didn’t expect it to drop straight to 0.9 today. Honestly, this price is hard to understand, but the 40+% unlock sell pressure at launch is indeed quite significant. Also, comparing it to the parent project Jupiter’s 3.5B market cap, it’s pretty awkward. Meteora’s official launch pool will give 30% of fee revenue to Jupiter stakers. If there’s 100M in fees, that’s 30M going to Jupiter stakers. In the long run, @JupiterExchange and @MeteoraAG will both be decentralized applications with real value that span multiple cycles. JUPITER Meteora