MegaETH oversubscribed 28 times: more than 50,000 people participated in raising $1.39 billion for $MEGA
Ethereum L2 network MegaETH issued an announcement today (30th), announcing that the public sale of its token $MEGA has officially ended today. The event attracted more than 50,000 investors from around the world, with a total subscription amount of US$1.39 billion and an oversubscription rate of 27.8 times.
(Preliminary summary: MegaETH public sale ICO raised more than 420 million U.S. dollars, and the token valuation is 8.5 billion U.S. dollars)
(Background supplement: MegaETH valuation game: Good entry opportunity or risk approaching?)
The Ethereum L2 network MegaETH, which is supported by Buterin, issued an announcement today (30th) to announce the public offering of its token $MEGA (Public Sale) event has officially ended today. The event attracted more than 50,000 investors from around the world, with a total subscription amount of US$1.39 billion and an oversubscription rate of 27.8 times.
The $MEGA Public Sale is Closed.
Total Bidders: Over 50k
Total Committed: $1.39b
Oversubscription: 27.8xThanks to everyone who participated. Now we allocate. pic.twitter.com/pyCQ5jr5yy
— MegaETH (@megaeth) October 30, 2025
53,420 wallets participated, with institutions and whales leading high-volume subscriptions
Official data shows that this public offering attracted a total of 53,420 wallet addresses participated, and the subscription amount distribution showed an obvious "top-heavy" pattern: the highest single subscription reached 186,282 USDT, and a total of 3,793 wallets in this range contributed US$706 million, accounting for nearly 51% of the total subscription; the minimum subscription threshold was 2,650 USDT, with 3,710 wallets participating, totaling 983 Ten thousand USD; the middle range (5,000 to 50,000 USDT) has the largest number of wallets, with a total contribution of approximately USD 323 million.
Next steps: The allocation will be announced on November 5, and TGE will be released as soon as mid-December
The MegaETH team simultaneously announced the follow-up schedule. From now on: Invalid bids below $0.0999/token will be automatically refunded; on November 5, the distribution results that meet the $0.0999/token will be announced. The review criteria include participants’ historical contributions to MegaETH and the Ethereum ecosystem, whether they choose to lock up, etc.; refunds will be initiated for the unallocated portion.
As for the Token Generation Event (TGE), according to the MiCA white paper, the tokens will be officially issued at least 40 days after the end of the public offering, and at the earliest in mid-December 2025.
