MegaETH ICO oversubscribed within 5 minutes, raising $50M at $1B valuation
Crypto Briefing
MegaETH's initial coin offering quickly raised $50 million at a $1 billion valuation.Summary
MegaETH, a new Ethereum Layer 2 blockchain focused on high throughput and low latency, successfully oversubscribed its Initial Coin Offering (ICO) in under five minutes, securing approximately $50 million at a $1 billion fully diluted valuation. The sale, which ran from October 27 to 30, accepted bids in USDT and offered discounts based on lock-up conditions. To ensure fair access, the project required participants to register with identity checks and capped commitments to encourage broad community involvement over exclusive deals. This rapid oversubscription follows a trend seen in recent ICOs utilizing English auction structures for transparent demand management.
(Source：Crypto Briefing)