Ethereum News Update: MegaETH's $7 Billion Buzz Compared to $1 Billion Approach: Undervaluing as a Wager on Ethereum's Prospects
- MegaETH's $350M ICO at $7B valuation marks fastest Ethereum token sale, leveraging real-time execution and 10B token supply. - Backed by Vitalik Buterin and $20M seed round, project aims to address Ethereum congestion with layer-2 scaling solutions. - Deliberate $999M underpricing strategy boosts community participation, contrasting inflated valuations in crypto market. - English auction format with 100K+ KYC participants shows strong grassroots support despite U.S. lock-up restrictions. - Market forecas
MegaETH’s recent developments have attracted $350 million in advance deposits, based on a theoretical $7 billion fully diluted value, making it one of the most rapidly oversubscribed token launches in Ethereum’s history. The layer-2 scaling platform, which claims to deliver almost instantaneous transactions, began its public sale on October 27 and surpassed its allocation limit by fivefold within just a few hours, according to a
The swift oversubscription highlights the increasing appetite for scalable
Although the notional valuation stands at $7 billion, the actual fully diluted value after adjustments is capped at $999 million for the 5% of tokens offered in the public auction, according to Coinotag. This intentional undervaluation is designed to better reflect market trends. Blockchain analyst Dr. Elena Vasquez explained that MegaETH’s tactic of launching tokens at a lower initial valuation fosters greater community involvement and supports organic price discovery over time, in contrast to projects that debut at high valuations and then experience steep declines.
The public offering uses an English auction format, enabling participants to place bids up to $186,282 in USDT. Token distribution is influenced by factors like on-chain engagement and activity on social platforms, Blockworks reported. More than 100,000 individuals completed KYC verification, indicating robust community interest. However, U.S. investors are subject to a mandatory one-year holding period, while those outside the U.S. can choose an optional lock-up with a 10% price reduction, Blockworks noted.
Market outlook remains cautiously positive. On Hyperliquid, the MEGA-USD perpetual contract currently values the token at a $5 billion FDV, with $17 million traded in the past 24 hours, according to a
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Ethereum ETFs Record $15.97M Inflows: Grayscale Leads with $56.05M Boost
Quick Take Summary is AI generated, newsroom reviewed. Total Ethereum ETF inflows (Oct 27–31): $15.97M Grayscale Ethereum Mini Trust ETF inflow: $56.05M Grayscale total net inflow: $1.54B ETH price: $3,857, showing bullish breakoutReferences X Post Reference
Ethereum News Update: Berachain Suspends Network Operations to Prevent $116M DeFi Theft, Prioritizing Security Over Decentralization
- Berachain halted network operations via emergency hard fork to address a $116M exploit targeting Balancer V2 pools on its BEX exchange. - Attackers drained WETH, osETH, and wstETH across Ethereum and Layer 2 networks, prompting validation nodes to freeze activity for security fixes. - Balancer's BAL token dropped 8% amid its third major breach since 2020, while security firms flagged $84M in suspicious cross-chain transactions. - Experts urge stronger smart contract audits and multi-signature safeguards

XRP News Today: XRP Tundra's Reviews Question the Usual Speculation in Crypto
- XRP Ledger tokenized real-world assets (RWAs) surged 34.6% to $157.4M, driven by Mercado Bitcoin's $200M initiative leveraging low fees and fast settlements. - XRP Tundra introduces a dual-token model (TUNDRA-S/Solana, TUNDRA-X/XRPL) with transparent pricing and institutional-grade audits from Cyberscope and Solidproof. - Evernorth's $1B SPAC merger to buy XRP risks supply shocks, contrasting XRPL's 25,000 daily active accounts with Solana's 2.5 million, as noted in CryptoNews. - Tundra's $2.2M presale a

Bitcoin Latest Updates: Cango’s New Strategy Drives Leadership in Bitcoin Mining
- Cango Inc. reported 6,412.6 Bitcoin holdings and 50 EH/s hashrate, driven by U.S. operations shift and ADR program termination. - Analysts forecast CNY1.64 EPS and CNY1.4B revenue for Q3 2025, with $8.00 price target reflecting dual mining-car export business model. - Post-halving industry trends see mid-tier miners like Cango narrowing gaps with leaders through infrastructure investments and AI diversification. - Cango's 90% operating efficiency and long-term Bitcoin holding strategy align with market v
