Ethereum Community MegaETH Attracts $350M in Token Sale, Valuing MEGA at $7 Billion – Decrypt

Briefly
MegaETH has attracted $350 million in pre-deposits at a “hypothetical” totally diluted valuation of $7 billion, simply hours after opening its preliminary coin providing.
The “hypothetical” totally diluted valuation is barely the results of the ICO’s oversubscription. As soon as allocations have been decided, MEGA may have an FDV of $999 million.
The Ethereum layer-2 scaling community gained vital hype this yr, because of a buzzy testnet that obtained broadly optimistic efficiency critiques.
Ethereum layer-2 community MegaETH began its preliminary coin providing public sale on Monday—and it turned oversubscribed in simply 5 minutes. Now, roughly 5 hours later, it has attracted $350 million in pre-deposits at a “hypothetical” totally diluted valuation of $7 billion.MegaETH has gained vital hype over the previous yr, following the launch of its testnet in March. Its major promoting level, particularly as an Ethereum scaling community, is its quick transaction execution velocity—with some customers reporting that it makes Ethereum really feel “on the spot.”Consequently, over 100,000 customers accomplished know-your-customer procedures forward of the MegaETH preliminary coin providing, additionally known as an ICO. These customers now have 72 hours to position a bid, and allocations might be revealed subsequent week. Now a number of instances oversubscribed, allocations might be decided by assessing previous engagement with MegaETH and Ethereum communities, each by way of “social and on-chain” strategies. The “hypothetical” $7 billion totally diluted valuation is barely the results of the ICO’s oversubscription. As soon as allocations have been decided, MEGA may have an FDV of $999 million.Within the first two hours of the ICO, based on Arkham Intelligence, 819 addresses dedicated a most of $186,282 in USDT apiece to the MegaETH sale handle.
$285 MILLION COMMITTED TO MEGAETH IN ONLY 2 HOURS
The MegaETH public sale has been open for two hours to this point – it's already oversubscribed by greater than 5x.
819 addresses dedicated the max quantity, sending $186,282 USDT to MegaETH’s sale handle. pic.twitter.com/4KCcRhLDtH
— Arkham (@arkham) October 27, 2025Predictors on Polymarket imagine there's a 27% probability that there might be as much as $1.8 billion value of commitments to the general public sale. In the meantime, others on the platform predict an 84% chance that it raises lower than $1 billion.  The ICO is promoting 5% of the overall 10 billion token provide. These primarily based in america might be required to lock up their funds for a yr; this was additionally seen through the ICO for stablecoin blockchain Plasma as a consequence of U.S. laws. The lock-up is elective for non-U.S. contributors, however it could assist acquire allocation.In line with the MegaETH MiCA whitepaper, the token era occasion will happen no less than 40 days after the general public sale concludes, which might be mid-December on the earliest. That mentioned, the whitepaper additionally estimates the token will launch in January 2026.Day by day Debrief NewsletterStart each day with the highest information tales proper now, plus authentic options, a podcast, movies and extra.