MegaETH Unleashes 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's supply is tied to network performance through a unique unlock program.

The token went live after a months-long countdown, following the achievement of transaction thresholds by 10 applications incubated through MegaETH's Mega Mafia program. This triggered the launch of MEGA, which was priced at $0.156 shortly after its debut and had a market capitalization of $176 million.

The price of MEGA dropped approximately 30% from its morning listing, a common pattern seen in early listings with thin liquidity. Of the total 10 billion MEGA supply, only 1.129 billion tokens have entered circulation so far, while over 5.3 billion tokens are reserved for performance-based unlock.

MegaETH's mainnet went live in February 2026 and currently holds around $89 million in total value locked. The network targets 100,000 transactions per second with 10-millisecond block times.