"The MEGA token opened trading between $0.16 and $0.22 on major exchanges, briefly spiking toward $0.225 before experiencing heavy selling pressure, leading to a significant price drop."
"Despite the decline in MEGA's price, MegaETH's total value locked climbed toward $600 million, indicating a strong on-chain performance that is decoupled from the token's market price."
"The project structured its tokenomics around performance milestones, with only about 1.129 billion tokens, or 11.3%, entering circulation at the token generation event, marking it as the largest TGE of 2026."
"More than 5.3 billion tokens are allocated to staking rewards and ecosystem incentives, which will be unlocked only when specific on-chain growth targets are met, emphasizing a performance-driven approach."
MEGA token launched on April 30, trading between $0.16 and $0.22 before dropping to $0.138, a -38% decline from its ATH. The market cap was around $155 million, with a fully diluted valuation of $1.38 billion. Despite the price drop, MegaETH's total value locked (TVL) approached $600 million, indicating strong on-chain activity. The tokenomics are based on performance milestones, with only 11.3% of the total supply in circulation. The first milestone was achieved on April 23, requiring ten applications to reach significant transaction volumes.
Read at news.bitcoin.com
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