Ethereum Updates: MegaETH Secures $350M in ICO Funding as Investors Aim to Address Ethereum Network Congestion
- MegaETH's Ethereum layer-2 ICO raised $350M in pre-deposits with a $7B hypothetical FDV, driven by 100,000+ KYC-verified participants. - The oversubscribed token sale (5x capacity) highlights demand for solutions addressing Ethereum's congestion, with allocations based on social/on-chain activity. - Promising 100,000 TPS and sub-10ms block times, MegaETH's testnet claims "instant" transactions, positioning it as a competitor to Arbitrum and Starknet. - U.S. participants face 1-year lock-ups under MiCA-co
MegaETH, an
MegaETH’s testnet, which debuted in March, has fueled much of the excitement, with users lauding its “instant” transaction capabilities. A
MegaETH’s rapid traction reflects a broader movement toward layer-2 adoption, as networks seek to combine scalability with Ethereum’s security. The project’s emphasis on real-time performance could make it a frontrunner for applications that demand minimal transaction delays, including DeFi and gaming. Analysts suggest that MegaETH’s continued success will depend on sustaining developer interest and strong testnet results as it moves toward mainnet launch.
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