MET premarket price briefly fell below $0.75, with a 24-hour decline of 24.5%.

On October 23, the Solana ecosystem liquidity protocol Meteora(MET) will have its TGE in 2 hours (21:00). According to CEX market information, the MET premarket price briefly fell below $0.75, currently reported at $0.782, with a 24-hour drop of 24.5%, corresponding to a fully diluted market capitalization of $782 million. The total supply of MET is 1 billion coins, with 48% of the total supply circulating at TGE. Previously, the Solana ecosystem liquidity protocol Meteora announced the MET tokenomics, with 15% allocated to Mercurial stake holders, 5% for Mercurial Reserve. The Mercurial Reserve will count towards the circulating supply but will not be released at TGE. 15% is allocated to Meteora users (through the LP incentive program), 3% to Launchpads and Launchpool ecosystems, 2% to off-chain contributors, 3% to the Jupiter stake incentive program, 3% to centralized exchanges, market makers, etc., and 2% to M3M3 stakers. Of the remaining portion, 18% is allocated to the team with a 6-year linear vesting, and 34% is allocated to the Meteora reserve, also with a linear vesting of 6 years.