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MegaETH Raises $450M in Oversubscribed Token Sale Backed by Ethereum Founders
The high-speed Ethereum layer-2 drew nearly nine times its target as over 14,000 investors rushed in.
Oct 29, 2025, 4:24 p.m.
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What to know:
- MegaETH’s auction attracted $450 million in bids within hours, with 819 wallets maxing out at $186,000 each and a total of 14,491 participants.
- Backed by Vitalik Buterin and Joe Lubin’s MegaLabs, the network targets 100,000 transactions per second with sub-millisecond latency.
- Santiment’s Brian Q said the rush highlights investor appetite but warned that synchronized buying could heighten volatility.
Ethereum layer-2 project MegaETH has pulled in $450 million during a token sale that drew nearly nine times its fundraising target within hours of going live.
Blockchain analytics firm Arkham revealed that 819 wallets committed the maximum amount, sending $186,000 worth of USDT to MegaETH’s sale address, with the total amount of investors reaching 14,491.
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Backed by Ethereum co-founders Vitalik Buterin and Joe Lubin via parent company MegaLabs, MegaETH aims to deliver sub-millisecond latency and 100,000 transactions per second, performance that rivals traditional web applications while retaining Ethereum compatibility.
A weighted allocation system factoring in prior community engagement and lock-up commitments will determine final token distributions once the auction closes in two days. MEGA tokens, which will be erc-20 tokens, will underpin the network when trading goes live in January 2026.
Santiment analyst Brian Q said the demand demonstrated growing investor appetite for ultra-fast Ethereum expansions. “It’s the closest yet to web-level performance on-chain,” he said.
Brian balanced the bullish sentiment by adding that "such aggressive, synchronized buying can be a red flag," and that too many buyer "can amplify speculative pressure," potentially elevating the risk of a sharp reversal upon launch.
The crypto market reacted poorly to the launch of Plasma, a stablecoin-focused blockchain that had similar levels of hype. Plasma's native XPL token is down from $1.67 on its debut in September to $0.344, suggesting early investors are locking up profits and demand is struggling to maintain the flood of supply.
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Japan's SBI to issue 10 billion yen onchain bond with XRP rewards for retail investors
The SBI START Bonds offer a fixed interest rate, blockchain settlement, and XRP rewards for eligible investors registered on the firm’s exchange.
Ano ang dapat malaman:
- SBI Holdings is launching a 10 billion yen blockchain-based bond for individual investors.
- The SBI START Bonds offer a fixed interest rate, blockchain settlement, and XRP rewards for eligible investors registered on the firm’s exchange.
- SBI Holdings has long supported XRP, and the company owns 9% of Ripple Labs, according to its Chairman and CEO Yoshitaka Kitao.
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