MegaETH Launches MEGA Token with Performance-Based Unlock Program

MegaETH has launched its native MEGA token at a $1.56 billion fully diluted valuation, tying most of its supply to network performance.

The token went live following a months-long countdown that started after 10 applications incubated through MegaETH's Mega Mafia program met transaction thresholds.

MEGA traded at $0.156 shortly after launch, giving the token a $176 million market cap. The price had fallen roughly 30% from its morning debut, a pattern often seen during early listings with thin liquidity.

Of the 10 billion total MEGA supply, only 1.129 billion tokens have entered circulation so far. Over 5.3 billion tokens sit reserved for the project's performance-based unlock program.