Ethereum Updates Today: MegaETH's $27.8 Billion Valuation Challenges Market as Altcoin Supply Increases
- MegaETH's token auction raised $1.39B from 100,000+ participants, achieving a $27.8B FDV through Ethereum-based weighted allocation. - The 5% token sale exceeded 27.8x its $50M cap, with USDT bids capped at $186K per participant and allocations finalizing by November 5. - Backed by Vitalik Buterin and Joe Lubin, MegaETH positions itself as Ethereum's high-speed scaling solution with "instant" transaction speeds. - Market analysts highlight supply pressure from $650M+ altcoin unlocks but note MegaETH's se
MegaETH has wrapped up its public token sale, drawing in $1.39 billion in total subscriptions, based on figures gathered from the
During the auction, 5% of MegaETH’s 10 billion total tokens were made available, and the commitments surpassed the $50 million target by over 27.8 times, CryptoBriefing reported. Bids were made in USDT, with each participant limited to a maximum of $186,282. According to the project’s whitepaper, allocations will be finalized by November 5, with settlement and refunds to follow soon after, Crypto.news reported. U.S. investors had to lock their tokens for a year, while non-U.S. buyers could also choose a lockup to improve their allocation odds, Yahoo Finance noted.
MegaETH’s swift fundraising has been likened to other major DeFi capital raises in 2025, such as Andre Cronje’s $200 million round, according to
Reports have shown considerable variation in the auction’s implied valuation. Initial data from
Analysts have pointed out the competitive environment facing MegaETH. With more than $650 million in altcoin unlocks expected in late 2025, the MEGA token’s debut will contend with significant supply pressure, Yahoo Finance observed. Still, supporters believe MegaETH’s innovative features—like sequencer rotation and proximity markets—could support its valuation as Ethereum continues to face scaling hurdles, CryptoBriefing added.
The strong outcome of the sale highlights increasing interest from both institutions and retail investors in layer-2 solutions, as Ethereum’s congestion and high gas fees persist. As allocation details are finalized, the market will be watching closely to see if MegaETH’s token distribution matches its promises of fair community participation and sustainable value, Crypto.news reported.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Hayes' $10k ZEC Prediction: Privacy Advantage or FOMO Risk?
- Arthur Hayes predicts Zcash (ZEC) could surge to $10,000, with a near-term $400 target, citing institutional interest and technical momentum. - ZEC’s price has risen 750% in three months, with $529M in futures open interest, reflecting speculative growth. - Analysts warn of FOMO-driven rallies, while regulatory shifts and BlackRock’s ETF dominance may boost altcoin demand. - Hayes’ track record adds credibility, but the $10,000 target requires unprecedented adoption and regulatory acceptance.
Blaqclouds' ZEUSx DEX: Connecting Blockchains to Simplify Crypto Like Traditional Currency
- Blaqclouds launches upgraded ZEUSx DEX with multi-chain support, enhancing cross-chain liquidity in DeFi. - Platform integrates seven blockchains, unified pools, and tools to streamline token lifecycle and user experience. - Aligns with industry trends toward interoperability, but faces risks like smart contract vulnerabilities and regulatory challenges.
Four.meme Connects Blockchains via deBridge, Advancing DeFi's Cross-Chain Integration
- Four.meme integrates deBridge to enable direct token swaps to BSC assets like BNB, enhancing cross-chain efficiency. - The update eliminates intermediaries, reducing friction and security risks in multi-chain asset transfers. - This aligns with industry trends prioritizing interoperability, strengthening BSC's role as a DeFi hub. - Other DeFi platforms like BenPay also focus on security through non-custodial models and third-party audits.
Bitcoin Updates: Institutions Diversify Strategies: Altcoin ETFs Offer a Counterbalance to Bitcoin’s Centralized Risk
- U.S. institutional investors are shifting from Bitcoin-centric ETFs to altcoins, driven by regulatory clarity and diversification demands, per Coinotag analysis. - BlackRock's $28.1B Bitcoin ETF dominance masks sector fragility, as Ethereum and altcoin ETFs gained $11.84B and $1.14B in inflows by October 2025. - Altcoin ETFs (Solana, Litecoin, Hedera) bypassed SEC hurdles during government shutdown, showing mixed performance but signaling market maturation. - Ethereum's $9.6B Q3 inflows surpassed Bitcoin
Trending news
MoreCrypto prices
More
