MegaETH unveils public sale details as traders price the token at a $5B FDV on Hyperliquid

Key Takeaways

• MegaETH’s community sale starts at a $1M FDV and uses a transparent English auction format.
• Hyperliquid’s MEGA pre-launch futures trade at a $5B implied valuation ahead of the token’s debut.

MegaETH has unveiled details of its public auction, offering 5% of its token supply through an English auction on Sonar by Echo. The auction starts at a $1 million fully diluted valuation (FDV) and is capped at $999 million.

Running from October 27 to 30, the auction allows bids between $2,650 and $186,282 in USDT. Participants can choose a one-year lockup for a 10% discount, mandatory for accredited U.S. investors and optional for others.

Described as the “first real-time blockchain,” MegaETH aims to build scalable infrastructure on Ethereum. A previous Echo auction co-hosted by Cobie drew over 3,000 investors, including Dragonfly, Joseph Lubin, and Vitalik Buterin.

Hyperliquid has also listed MEGA-USD perpetual futures ahead of the auction, trading near a $5 billion FDV, signaling strong anticipation for MegaETH’s upcoming mainnet launch.