According to Decrypt, MegaETH launched its native MEGA token on Thursday morning, achieving a $1.5 billion fully diluted valuation at debut. The Layer-2 network’s TVL surged to $490 million, surpassing Monad to become the leading DeFi chain by this metric.
Participants in the 2025 ICO saw approximately 70% returns. MegaETH’s token structure ties 53.3% of the 10 billion total supply to network performance milestones rather than fixed schedules. The first unlock triggered Thursday after 10 ecosystem apps each recorded 100,000 on-chain transactions within 30 days on April 23. The network’s native stablecoin, USDM, reached $270 million in market cap following the launch.
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