MegaETH initial coin offering 3x oversubscribed less than 30 minutes post-launch

The initial coin offering (ICO) for MegaETH, aimed at developing a real-time blockchain, experienced overwhelming interest shortly after its launch, becoming 3x oversubscribed within less than half an hour. The ICO is open for 72 hours and accumulated over $150 million in bids, with a maximum price per token at $0.099. This generates an implied fully diluted valuation (FDV) of around $3.05 billion at the time of reporting. Noteworthy venture backing comes from figures like Vitalik Buterin and Joe Lubin, who participated in a previous funding round. Accredited investors in the ICO face a lock-up period of one year but can benefit from a 10% discount; however, this lock-up is optional for non-U.S. participants. Once MegaETH's mainnet is live, eligible users may receive more tokens based on their engagement in the ecosystem. Early buyers of MegaETH’s public sale are anticipated to gain significant returns, following earlier funding rounds that suggest a robust market interest.

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