The recent MEGA token offering from the Ethereum
$3,993.23
-based network MegaETH saw far greater demand than expected.
The team had set a fundraising target of just under $50 million. However, participants committed over $450 million within hours of the auction going live.
The token sale, which launched on October 27, allowed buyers to submit bids ranging from $2,650 to $186,282. Those willing to lock their tokens for one year were offered a 10% discount.
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In total, 5% of the project’s 10 billion token supply is being distributed through this offering.
Because the amount pledged is much higher than the available tokens, not everyone who participated will receive the amount they bid for.
Brian Q, from on-chain analytics firm Santiment, commented that concentrated buying activity could be a warning sign. He suggested that such behavior might reflect short-term hype rather than strong belief in the project’s long-term value.
He also questioned whether the interest was driven more by the fear of missing out than by confidence in the technology.
According to the project’s white paper, the MEGA token is scheduled to launch in January 2026. Once live, it will be available on selected centralized and decentralized exchanges.
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