Overview
- MegaETH, which launched its MEGA token Thursday after ten apps met its first onchain KPI, opened spot trading in a synchronized rollout on Binance, KuCoin and Bitget.
- MEGA uses a hard cap of 10 billion tokens with 53.3% reserved for KPI-linked rewards, 1.129 billion released at launch, and 500 million sold in a public sale.
- Early trading showed a small circulating float and sharp swings, with CoinGecko data placing MEGA near $0.156 and a roughly $1.6 billion fully diluted value on day one.
- USDM, the project’s dollar-pegged stablecoin co-developed with Ethena, grew from about $63 million to more than $300 million in supply during the launch window, and the foundation says USDM revenue will be used to buy MEGA.
- Major exchanges listed MEGA without receiving tokens as listing fees, a stance MegaETH set in advance that still drew listings from platforms including Binance and others.