MegaETH Token Sale Hits $50M in Minutes at $1B Valuation

MegaETH's token sale reached approximately $50 million in commitments within five minutes of launching October 27, achieving oversubscription at a $1 billion fully diluted valuation for the Ethereum Layer 2 blockchain project.

The rapid fundraising reflects intensifying investor appetite for Ethereum scaling infrastructure as the network seeks solutions for throughput limitations and transaction costs.

MegaETH positions itself as a "next-generation Layer 2 blockchain," emphasizing real-time performance with high throughput and low latency. The sale, scheduled to run through October 30, accepts bids in USDT and offers discounts contingent on lock-up conditions.

The project implemented identity verification requirements through a dedicated platform to ensure fair access among participants. MegaETH prioritized community involvement by capping individual commitments and emphasizing broad participation over concentrated institutional allocations.

The oversubscription places MegaETH alongside recent successful token offerings including Plasma's $373 million raise in July, signaling sustained market interest in Ethereum infrastructure despite broader market volatility.

Ethereum Layer 2 solutions have attracted significant capital as projects compete to address network congestion and gas fee challenges on the mainnet. The sector has seen multiple high-profile launches and upgrades throughout 2025 as scaling technologies mature.

The token sale occurred as Ethereum traded around $4,162 with a market capitalization exceeding $502 billion, according to market data at the time of the offering. The network's sustained valuation provides backdrop for continued infrastructure investment.

MegaETH's rapid capital formation demonstrates investor willingness to deploy significant resources into Ethereum scaling projects, particularly those promising performance improvements for real-time applications requiring low-latency execution.

The community-focused allocation strategy and verification requirements differentiate MegaETH's approach from traditional venture-heavy token distributions, potentially broadening the participant base beyond institutional investors.