Although the public sale lasted only minutes before reaching its cap, MegaETH has effectively raised roughly $350 million in a token offering that set an initial market valuation near $7 billion, with some subscription and allocation mechanics driving reported demand figures as high as $450 million to $1.39 billion. The public tranche, initially planned for a 72-hour window, closed within minutes after overwhelming demand exceeded the $50 million target by more than sevenfold, reflecting both retail and institutional interest and the effects of auction-style pricing and weighted allocation. Reports indicate about 5% of the total token supply was sold, implying a 10 billion token base and producing an ICO price that translates to the cited $7 billion initial market capitalization, while alternative calculations that incorporate broader allocation methods produce FDV estimates reaching up to $27.8 billion. Participation metrics point to wide engagement, with over 100,000 verified participants and approximately 819 wallets investing the maximum permitted amount in USDT, signaling concentrated high-value commitments alongside broad retail interest; allocation mechanisms prioritized prior community engagement and lock-up commitments, which influenced final distributions and likely amplified the headline demand figures. IDO platforms often ensure fairness in distribution, which is reflected in MegaETH’s allocation strategy. Some investors faced regulatory-driven constraints, including one-year token locks for certain U.S. participants, and the project reportedly executed repurchases with earlier investors to rebalance holdings and reduce concentration risk. The sale employed an English auction format during community rounds and used specialized fundraising platforms, contributing to rapid subscription and complex bid weighting that affected reported oversubscription totals. MegaETH is positioned as an Ethereum Layer-2 scaling solution backed by prominent industry figures through MegaLabs, and it targets aggressive technical benchmarks such as 100,000 transactions per second and sub-millisecond latency, with MEGA tokens as ERC-20 assets slated to underpin the network when trading begins in January 2026. The involvement of high-profile founders lends credibility, but market observers note cautions regarding valuation variability, potential centralization in token distribution, and execution risk inherent in delivering the stated performance goals, all of which merit scrutiny by prospective investors and community stakeholders. The announcement, made on October 27, 2025, highlighted the broader market impact of the raise and MegaETH’s fundraising. Additionally, the project reported that it had repurchased 4.75% of the supply from early investors prior to the public sale.
