The long-awaited Meteora (MET) airdrop and token generation event (TGE) officially went live on October 23 at 1 PM UTC, marking one of Solana’s most talked-about launches of 2025. Could MET still be among the best crypto to buy now? Here’s what we know so far.
Meteora, which commands 26% of Solana’s DEX market share and holds $829 million in total value locked (TVL), released 480 million MET tokens, nearly 48% of its total supply, with zero vesting period. This means almost half of all tokens hit the market instantly, defying conventional crypto distribution models.
Pre-market forecasts on Polymarket suggested a $750 million to $1 billion fully diluted valuation (FDV), with traders giving a 92% chance that MET would stay above $500 million one day after launch. And so far, those expectations have proven accurate: MET remains above a $500 million market cap, even after the price dropped over 36% to around $0.59 as the market digests this token release.
Once airdrop sellers are out, could MET shine as one of the best cryptos to buy in the final quarter of 2025?
Meteora's $MET just went live and is trading at $670M USD market cap.
Cook pic.twitter.com/ibKD3yXwFH
— wale.moca 🐳 (@waleswoosh) October 23, 2025
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From Mercurial Finance To Meteora: Airdrop and Controversy
Originally launched in 2021 as Mercurial Finance, Meteora rebranded after the FTX collapse left millions of MER tokens trapped on the exchange. The MET airdrop compensates MER holders with 20% of the total new supply, while overall community allocation represents 15–25% (150–250 million tokens).
Meteora’s Dynamic Liquidity Market Maker (DLMM) automatically redistributes liquidity in response to market volatility, enhancing efficiency and performance. This innovation helped the protocol process $208.7 billion in trading volume since February 2023 and generate $3.9 million in daily fees: eight times more than competitor Raydium.
The Liquidity Distributor should replace the typical airdrop dump with a model that lets users claim tokens as liquidity positions, instantly earning fees on pools like MET–USDC. This design aims to stabilize markets while rewarding real participation.
Still, controversy surrounds the project. In an ongoing U.S. class-action lawsuit, former CEO Benjamin Chow is accused of orchestrating a $57 million investor fraud tied to meme-coin promotions. Although Chow resigned in February, the case continues to shadow the project’s image even as Meteora cements itself as one of the top Solana protocols.
A U.S. class-action lawsuit accuses Meteora founder Benjamin Chow of leading the “MELANIA” and “LIBRA” meme coin scams, saying Melania Trump and Argentine President Javier Milei were used as promotional fronts rather than participants. Chow allegedly coordinated at least 15…
— Wu Blockchain (@WuBlockchain) October 23, 2025
With over $800 million TVL and some of the highest fee generation in DeFi, Meteora’s success or failure over the next 48 hours could redefine how crypto launches are structured and determine whether MET truly stands among the best cryptos to buy now.
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Next-Gen Virtual Mining: Why PepeNode Could Be the Best Crypto to Buy Now
While Solana’s DeFi sector experiments with new liquidity models through Meteora, another project, PepeNode (PEPENODE), is reinventing a completely different arena: crypto mining.
The project offers a virtual, energy-free mining experience that allows users to earn top-performing meme coins, such as PEPE, through strategic gameplay rather than expensive hardware. With Bitcoin mining now consuming enough energy to power 61 homes per year per BTC, PepeNode offers a sustainable alternative that’s fun, engaging, and accessible to all.
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Mining Reimagined for Everyone
Through its “mine-to-earn” model, PepeNode lets players set up virtual nodes, optimize their systems, and earn rewards by running efficient operations. Success depends on strategy and timing — not energy costs. This model has already captured investor attention, with over $1.9 million raised in presale funds. Tokens are priced at $0.0011138 before the next tier increase.
PepeNode is also audited by Coinsult and listed on Best Wallet’s Upcoming Tokens tool, making it easy for users to buy, track, and claim within the app. Its approach fuses play-to-earn mechanics with real crypto mining logic, creating a new trend that could rival the P2E boom.
With zero energy waste, active player engagement, and exposure to meme coins, crypto’s fastest-growing segment, PepeNode could be the next major project to watch.
As both Meteora and PepeNode show, 2025’s best opportunities may not come from Bitcoin or Ethereum, but from projects reinventing how crypto participation works — making them strong contenders for the best crypto to buy now.
Visit PEPENODE HereKey Takeaways
- Meteora’s MET token dropped over 36% to $0.59 shortly after launch, as nearly half the supply entered circulation at once—testing whether Solana’s biggest DeFi project can recover from one of the boldest token releases ever.
- Despite volatility, investors still debate if Meteora (MET) could evolve into the best crypto to buy on Solana, given its $829M TVL, strong revenue, and market dominance.
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