MegaETH, Ethereum’s Layer 2 solution, saw a 65% increase in its TVL one week after its mainnet launch, reaching approximately $66.48 million as of February 16. The initial TVL right after the debut was $40.3 million.
Most of the network’s assets are stablecoins, with MegaUSD (USDM) reaching a market cap of $99.2 million, a 56% increase over the week. Bridged assets account for about $122 million in TVL.
Kumbaya, MegaETH’s decentralized exchange, holds roughly $51 million in TVL. Other protocols, including Avon MegaVault, World Markets, and Aave, maintain a combined TVL of $19 million.
The MEGA token launch (TGE) remains conditional on specific KPIs. The network requires $500 million in circulating USDM, at least 10 active Mega Mafia dApps with over 100,000 transactions across 25,000 wallets, and three dApps generating $50,000 in daily fees for a month. So far, only five dApps are live, USDM circulation is around 10% of the target, and no dApp has reached $50,000 in daily fees.
The public MEGA sale on Sonar, held in October 2025, was oversubscribed 20 times, with over $1 billion in deposits.
Source: https://defillama.com/chain/megaeth
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