MegaETH Raises $470 Million in First Day of Token Sale

MegaETH ICO participants exceeded fundraising limit by nearly tenfold, raising $473 million in a day.

Participants in the ICO of the second-layer project MegaETH exceeded the fundraising limit nearly tenfold. The rollup collected $473 million in a day, according to data from the token sale page. 

The team allocated 5% of the total MEGA supply — 10 billion coins — for the initial offering. The maximum application size is $186,282, while the minimum threshold is $2,650. 

Participants from the United States will be unable to sell tokens for a year after launch, while others have the option. A 10% discount is offered for agreeing to lock the coins.

The project team noted that over 100,000 users completed KYC verification before the ICO began. 

Upon the conclusion of the initial offering on October 30, developers will activate a special allocation mechanism due to the fundraising limit being exceeded. According to the project’s website, the main factor will be activity within the MegaETH and Ethereum communities.  

The launch of MEGA is scheduled for January 2026, as stated in the rollup’s white paper. 

What is driving the excitement? 

According to Santiment analyst Brian Q, the activity of MegaETH ICO participants is linked to the project’s ambitious promises. Developers claimed that after implementing parallelization, they intend to achieve a throughput of 100,000 TPS. 

“If successfully implemented, the project could become one of the most beneficial extensions of the Ethereum ecosystem,” the expert noted.

The creators of MegaETH — MegaLabs — have also managed to attract significant investments and secure support from co-founders of the second-largest cryptocurrency platform by market capitalization, Vitalik Buterin and Joe Lubin. 

Nevertheless, Q described the activity as a “red flag.” He emphasized that the participation of such a large number of investors could create speculative pressure and increase the likelihood of a correction after the coin’s launch. 

“It’s more likely a social momentum rather than an objective assessment of fundamental indicators,” the analyst stated. 

According to Arkham, the volume of applications exceeded the limit within the first two hours. At least 819 wallets contributed the maximum possible participation amount.

$285 MILLION COMMITTED TO MEGAETH IN ONLY 2 HOURS

The MegaETH public sale has been open for 2 hours so far — it is already oversubscribed by more than 5x.

819 addresses committed the max amount, sending $186,282 USDT to MegaETH’s sale address. pic.twitter.com/4KCcRhLDtH

— Arkham (@arkham) October 27, 2025

Users on Polymarket are betting on the ICO’s outcome. The majority of participants (83%) believe the final amount raised will exceed $1 billion. 24% are confident the figure will reach $1.8 billion. 

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