MegaETH ICO oversubscribed within 5 minutes, raising $50M at $1B valuation

The sale, which runs from October 27 to 30, allows bids in USDT and offers discounts under certain lock-up conditions.

Key Takeaways

• MegaETH's ICO was completed in under five minutes, raising nearly $50 million.
• The token sale valued MegaETH at $1 billion.

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MegaETH, a next-generation Ethereum Layer 2 (L2) blockchain designed for real-time performance with high throughput and low latency, saw its token sale oversubscribed within minutes, raising approximately $50 million at a $1 billion fully diluted valuation.

The project required participants to register on a specific platform with identity checks to ensure fair access. MegaETH prioritized community involvement by capping commitments and focusing on broad participation rather than exclusive investor deals.

Recent blockchain ICOs have highlighted a trend toward English auction structures to manage high demand transparently.

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