MegaETH Raises $27.8 Billion in Token Sale

MegaETH's ICO concluded, raising $27.8 billion with oversubscription over 27x.

On October 30, the ICO of the second-layer solution MegaETH concluded, raising a total of $27.8 billion. The oversubscription exceeded 27 times. 

MegaETH allowed participants to place bids even after the token reached a maximum clearing price of $0.0999. In total, investors contributed over $1.39 billion at the maximum threshold.

The minimum bid amount ranged from $2,650 to $186,282 per user. According to the website, more than 50,000 participants submitted applications.

The project team announced that it would begin automatically refunding ICO participants whose bids were below the $0.0999 rate.

Next phase: Allocations and Refunds

If you bid under $0.0999
→ Automatic refunds start today

If you bid at $0.0999
→ You are being reviewed for allocation.
→ Review goes until Nov 5th, where allocations will be announced and refunds for unallocated users begin processing. pic.twitter.com/QsF7kfTAIa

— MegaETH (@megaeth) October 30, 2025

Users who entered at maximum values will be considered for allocation. MegaETH will conduct an analysis of applications until November 5.

The volume of bets on Polymarket regarding the outcome of the token sale nearly reached $60 million. At the time of writing, 99% of participants believe that the total amount raised will exceed $1 billion. 

Back in March, MegaETH developers launched a public testnet with a declared throughput of 20,000 TPS.