Deep Dive
1. Aggressive Buyback Program (Bullish Impact)
Overview: In Q4 2025, Meteora executed its largest buyback, spending $10.6 million USDC (88% of quarterly revenue) to acquire 2.3% of the total MET supply (NullTX). The protocol faces ongoing dilution from 22 million MET unlocking quarterly, but buybacks at this pace could keep circulating supply flat.
What this means: This creates a direct, revenue-driven demand for MET, countering sell pressure from unlocks. If sustained, it introduces a deflationary mechanism that could support the price, especially if quarterly revenues remain strong.
2. Regulatory Scrutiny & Sentiment (Bearish Impact)
Overview: Meteora is a top suspect in an insider-trading investigation by ZachXBT, linked to its role as a launch hub for tokens like $TRUMP and $MELANIA (CryptOpus). Such probes can erode trust and attract regulatory attention.
What this means: Negative headlines could suppress retail and institutional interest, leading to reduced trading volume and selling pressure. A formal charge or lawsuit would likely cause a sharp, sentiment-driven price decline.
3. Solana DeFi Adoption & Comet Points (Mixed Impact)
Overview: Meteora's core value is tied to Solana's growth, providing liquidity infrastructure for memecoins and new projects. The newly launched Comet Points system rewards users for staking MET and using products, aiming to boost utility (Meteora).
What this means: Broader Solana adoption increases trading volume and protocol fees, directly benefiting MET holders. However, success depends on outcompeting rivals like Raydium and Pump.fun. Comet Points must deliver tangible value to drive sustained staking demand.
Conclusion
MET's path is a tug-of-war between disciplined capital returns and external reputation risks. For a holder, the immediate focus is the Q1 2026 financial report—can revenue sustain the buyback engine that defends the price?
Will Q1 2026 protocol revenue be sufficient to fund another major MET buyback?