Traders Push MEGA to $200M Market Cap as MegaETH Lists on 13 Exchanges at Once
MEGA is currently down 21% lower than its all-time high as of 8 a.m. ET. Ethereum co-founders Vitalik Buterin and Joe Lubin are among the projects backers, along with Dragonfly Capital. MegaETH raised more than $100 million across funding rounds, including a on Sonar that was oversubscribed. The MEGA token has a fixed maximum supply of 10 billion. At launch, approximately 1.13 billion tokens, or 11.3% of the total supply, entered circulation. The team allocated roughly 53% of the supply to ecosystem incentives and KPI-based rewards, 9.5% to the team, and 5% to the . Early trading placed MEGA between $0.18 and $0.20. As of April 30, at 8 a.m. ET, the token was priced near $0.1695, giving it a of approximately $199 million and a fully diluted valuation of roughly $1.7 billion. That figure aligns with pre-launch analyst estimates that pegged between $1.5 billion and $2 billion. Twenty-four-hour reached between $78 million and $81 million from the opening session, pointing to depth across the listed venues. At 8 a.m., the MEGA token is down 21% from its $0.2249 all-time high. Several exchanges added incentive campaigns alongside the listing. Bybit offered a $100,000 trading prize pool, and WEEX ran an for participants. Upbit listed MEGA