Vitalik-backed MegaETH sees token fall 55% on first day trading
By Tim Craig
AI summary of the source article
Ethereum layer 2 blockchain MegaETH launched its MEGA token on Thursday, which dropped 55% to roughly $0.17 after reaching an initial high of $0.38. Despite the slide, trading remains above the public sale price of $0.0999, where the project raised nearly $50 million. MegaETH has raised around $108 million in total funding and has gathered $314 million in DeFi deposits since its February launch.