Ethereum Layer 2 Protocol MegaETH Achieves $1 Billion Valuation in Record-Breaking Token Sale
In an extraordinary display of market confidence, MegaETH's public token auction on October 27, 2025, shattered all expectations by raising $49.95 million in mere minutes—achieving a remarkable three times oversubscription against its initial target. The ethereum Layer 2 protocol's sale of just 5% of its token supply implied a staggering near-$1 billion valuation, with peak investor demand eclipsing an astonishing $3 billion. The auction witnessed accredited investors flooding the Ethereum mainnet-based platform, with individual bids ranging from $2,650 to $186,282 per participant, demonstrating both broad participation and significant institutional interest. This overwhelming response highlights the growing institutional confidence in Ethereum's Layer 2 scaling solutions and their potential to transform blockchain scalability and efficiency. The auction's success underscores the vibrant demand for high-performance Ethereum infrastructure projects that promise to address the network's scalability challenges while maintaining security and decentralization. With a 10% staking mechanism integrated into the token economics, MegaETH positions itself as a pioneering force in the next generation of Ethereum scaling solutions, potentially setting new benchmarks for Layer 2 valuations and investor appetite. This record-breaking token sale not only validates the continued innovation within the Ethereum ecosystem but also signals strong market belief in the long-term value proposition of Layer 2 technologies. The substantial oversubscription and premium valuation suggest investors recognize MegaETH's potential to capture significant value as Ethereum continues to evolve and scale to meet global demand for decentralized applications and financial services.
MegaETH Token Sale Raises $50M in Minutes with 3x Oversubscription
MegaETH's public token auction shattered expectations, raising $49.95 million in minutes—three times its initial target. The Ethereum Layer 2 protocol's sale of 5% of its token supply implied a near $1 billion valuation, with demand eclipsing $3 billion at peak interest.
The October 27 event saw accredited investors flood the Ethereum mainnet-based auction, bidding between $2,650 and $186,282 per participant. A 10% staking discount added fuel to the frenzy, collapsing the planned 72-hour window into mere minutes.
Behind the scenes, MegaETH executed a strategic buyback of 4.75% of its token supply from early backers—a MOVE signaling confidence in its roadmap. The overwhelming response underscores growing institutional appetite for scalable Ethereum solutions.
Lighter Perp DEX Outperforms Rivals in Trading Volume Amid Market Calm
Lighter, a decentralized exchange specializing in perpetual futures, has surged ahead of competitors like Aster and Hyperliquid with $8.6 billion in daily trading volume on October 26—despite maintaining lower open interest at $1.7 billion. The platform's Ethereum-based zk-rollup architecture is drawing traders with its cost efficiency, even as broader crypto volatility wanes.
Perpetual trading volume across the sector spiked to $125 billion in late September, driven by ApeX and Aster, before settling into a $25–50 billion range. Daily active users remain steady at 40,000–80,000 on leading platforms, suggesting sustained retail participation.
Open interest peaked NEAR $30 billion in early October but has since normalized to $15–20 billion, with Hyperliquid dominating market share. The data underscores a divergence between trading activity and capital deployment, as traders capitalize on Lighter's technical edge during subdued market conditions.
Ethereum Breaks $4,000 as Institutional Demand Fuels Rally
Ethereum surged past $4,000 with a 6% gain in 24 hours, buoyed by institutional investors accumulating positions. SharpLink Gaming moved $78.3 million worth of ETH from FalconX, while Richard Heart transferred $105 million to Tornado Cash—retaining over $500 million in holdings. The network's transaction volume hit a two-year high, driven by stablecoin activity and escalating daily use.
Technical analysts identify a W-bottom formation, suggesting a potential rally toward $8,000. Trading volume spiked 121% to $34 billion, propelling Ethereum's market cap above $506 billion. The accumulation trend mirrors broader institutional interest, with firms like BitMine strategically building positions during dips.
ETHZilla Corporation's Strategic ETH Treasury Sale Fuels 14.5% Stock Surge
ETHZilla Corporation (Nasdaq: ETHZ) saw its shares jump 14.53% to $20.65 on October 27 after announcing a bold treasury realignment. The company sold $40 million worth of Ethereum from its reserves to fund stock buybacks, narrowing its discount to net asset value.
A $12 million portion of the proceeds was immediately deployed to repurchase 600,000 shares under its $250 million buyback program. The move comes amid activist investor pressure to address undervaluation, with remaining funds earmarked for further accretive repurchases.
Despite the sale, ETHZilla maintains $400 million in ETH holdings, signaling continued confidence in its digital asset strategy. The market responded favorably to this balance between blockchain vision and shareholder-friendly capital allocation.
