Meteora rallied 18%, with the move likely linked to reward campaigns targeting stakers and traders who referred liquidity providers. Participants received incentives for locking the protocol’s native MET token and earned a share of fees generated by the protocol. DeFiLlama reported $20.3 million in fees over the last 30 days, including roughly $1.03 million in the past 24 hours. Protocol usage also increased, with Active Addresses, a measure of participating users, rising by more than 40,000 between September 1 and 10 to reach 151,706 in the past day. Transactions climbed to more than 4.19 million from 2.96 million on September 1. In the perpetual market, a derivatives segment without an expiry date, MET’s Funding Rate was positive at 0.0060%, indicating neither strongly bullish nor bearish positioning. Spot Market Netflow remained negative at $474,000 after a $2.56 million sell-off, consistent with profit-taking by spot traders. The combination of higher activity, fee generation and positive perpetual positioning has supported MET’s recent momentum, although spot-market selling remains a countervailing factor.