MegaETH Token Sale Sells Out Amid Valuation Dispute

MegaETH’s public MEGA token sale sold out within minutes, raising the auction cap of roughly $50 million while outlets reported between about $350 million and $450 million in commitments and oversubscription multiples ranging from roughly 3x to 8.9x. The auction sold roughly 5% of a 10 billion token supply, had minimum and maximum bids of about $2,650 and $186,282 respectively, required KYC and reportedly saw over 100,000 verified users seeking allocations. Allocations will be decided by a “special allocation mechanism” that weights social and on‑chain engagement as well as lockup choices; a one‑year lockup option carried a reported 10% discount. Commentators reported differing fully diluted valuations — roughly $1 billion in some reports and as high as $7 billion in others — and the project lists a MEGA token launch in January 2026, with allocation and refund timing noted in its FAQ. Some on‑chain analysts warned the rapid, synchronized buying could reflect social momentum rather than fundamentals and raise the risk of sharp reversals, even as MegaETH emphasized broad community participation and capped commitments.