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Santiment analyst Brian Q said MegaETH may be seeing hype as it promises a blockchain that\u2019s as quick and smooth as a regular app<\/a>.<\/p>\n Ethereum layer-2 network MegaETH\u2019s initial coin offering reportedly \u201csold out\u201d within minutes and is now oversubscribed by about $400 million, as users scramble to get an allocation of its MEGA token.\u00a0<\/p>\n The Ethereum layer-2 network opened<\/a> the auction for its MEGA token on Monday with a raise cap of just under $50 million, but the auction has since seen more than $450 million in commitments in just a matter of hours. <\/p>\n In total, the initial coin offering (ICO) will allocate 5% of the total 10 billion token supply, with a maximum bid amount of $186,282 and a minimum bid of $2,650, offering the option to select a one-year lock-up for a 10% discount.<\/p>\n Read more<\/p>\n<\/p>\n If you liked the article, do not forget to share it with your friends. Follow us on\u00a0Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n If you want to read more News<\/a> articles, you can visit our General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n\n