MegaETH Launches MEGA Token at $1.56B Valuation

MegaETH, an Ethereum layer-2 network, has launched its native MEGA token at a fully diluted valuation of $1.56 billion.

The token went live after meeting transaction thresholds through MegaETH's incubation program, and it immediately traded at $0.156, giving the token a market cap of $176 million.

The launch model breaks from standard vesting schedules, with additional MEGA tokens releasing when the network hits milestones tied to total value locked, circulating supply of USDM stablecoin, and overall throughput.

The project's performance-based unlock program reserves 5.3 billion tokens, while venture investors hold 14.7% of the supply, and the team and advisors received 9.5%