Platform projects are the best currencies in the market.
Why?
Because they are the closest thing to real projects that generate actual revenues and do not rely solely on a temporary trend.
Of course, everyone knows central platform currencies.
But there is another important side, which is decentralized platform currencies.
The MeteoraAG platform is a DEX on the Solana network.
We can say that Meteora is one of the first platforms that developed the idea of decentralized platforms through technologies like DLMM.
In short, to avoid boring you with technical details:
Previously, providing liquidity for any coin on the DEX was a complicated matter and often resulted in losses due to price volatility.
But with the DLMM system, you define a specific range for liquidity, which significantly reduces what is called Impermanent Loss.
The Meteora platform has greatly benefited from the meme coin trend, but it has distinguished itself in its ability to compete.
For example, the Raydium platform was at the forefront for a period due to its collaboration with PumpFun.
However, months ago, PumpFun halted this collaboration and launched its own platform.
As a result, Raydium's share has clearly declined, in favor of both PumpFun and Meteora.
And you can actually see this competition in the numbers.
Over the past month, the trading volume on Raydium was 14.7 billion dollars.
And the trading volume on Meteora was 13.5 billion dollars.
However, the fees collected by Raydium during the same period were 14 million.
While the fees collected by Meteora were 32 million dollars!
The MET coin · $0.21 is considered relatively new in the market.
The coin was launched on October 23, and it is currently listed on most platforms including Binance.
If the Solana network continues to grow, the Meteora platform will certainly have a good share of this growth.
Remember that when choosing a coin for any platform, the ecosystem is the most important thing.
