MegaETH has closed its public ICO, raising $50 million for a fully diluted valuation estimated at $27.8 billion, oversubscribed by 27.8x.
The ‘English auction’ model allowed investors to bid up to the ceiling price of $0.0999 per token, quickly reached, turning the sale into a race for allocation.
Over 50,000 participants tried to secure a share in the project, with an allocation system favoring key contributors and a TGE scheduled for early 2026.
MegaETH: A Sale That Breaks Records
The MegaETH phenomenon has just set a new record in the world of ICOs. In just three days, the project closed its public sale with a hypothetical fully diluted valuation of $27.8 billion. A staggering figure for a token not yet existing in the markets, but already at the center of all crypto conversations.
An Instant Success
From the first minutes, the sale reached its ceiling of $0.0999 per token, a base valuation of nearly $1 billion. In moments, everything was already sold out. The platform had planned for a 72-hour duration, and the rest of the auction turned into a capital influx, with investors continuing to bet despite the already reached limit.
A Distribution Designed for the Ecosystem
MegaETH also introduced a ‘bimodal’ allocation model to prioritize ‘key contributors’ in the ecosystem. The project guarantees a spot for at least 5,000 participants, each receiving a minimum allocation of $2,650. Individual stakes could go up to $186,282, and over 50,000 participants worldwide tried their luck, showing enthusiasm rarely seen since the biggest ICOs of 2017.
Refunds and Next Steps
The MegaETH teams confirmed that investors who bid below the $0.0999 ceiling will be refunded. Those who wagered the maximum will be ‘reviewed for allocation’ until November 5, when the final token distribution and unallocated refunds will be processed.
A Strong Signal for the Market
This enthusiasm reminds us that investors have not lost their appetite for ambitious projects on Ethereum. In the midst of a renewed interest in tokenization and on-chain infrastructures, MegaETH is already establishing itself as one of the most iconic fundraisers of the year. Although the hypothetical valuation of $27.8 billion is currently just a calculation based on deposits, it is not yet a market valuation. The next chapter unfolds in early 2026, for a highly anticipated TGE.
