MegaETH (MEGA): price, market cap and how it did against Bitcoin
Bottom line
MegaETH (MEGA) closed at $0.04612 on 4 November 2026, with a market capitalisation of $51.7M (rank 434) on 5 November 2026. On 30 October 2026 it was above its 200-day average of $0.04469. Over 90 days it is 1.7 percentage points ahead of Bitcoin. Layer 2 as a theme is +22.4% against Bitcoin over 13 weeks.
Price
$0.04612
as of 2026-11-04
Market cap
$51.7M
snapshot 2026-11-05
vs Bitcoin · 90d
+1.7 pts
as of 2026-10-30
30-day median volume
$2.9M
as of 2026-10-30
What it is · from the data we hold
What is MegaETH (MEGA)?
MegaETH (MEGA) is a crypto token that CoinGecko lists under smart contract platform and layer 2 (L2). We place it in the Layer 2 theme, with 45 coins. Its highest daily close since 29 May 2026 was $0.06312 on 30 May 2026; its lowest was $0.03117 on 14 August 2026.
01 · the tape, against its benchmark
How has MegaETH moved against Bitcoin?
MegaETH's one-year return is withheld because the series is incomplete. Annualised 30-day volatility is 109%. Its deepest fall from a high inside the last 90 days is 22%. It trades above its 200-day average.
MEGA · rebasedBitcoinLayer 2 · equal weight
All three lines rebased to 100 at the first week each has data. Bitcoin is the opportunity-cost benchmark for crypto risk; the theme line is its equal-weight index of current rated members.
02 · returns, volatility and drawdown
What do MegaETH's returns and risk look like?
7 days+0.8%
30 days+9.3%
90 days+25%
180 days—
1 year—
30-day volatility109% annualised
Deepest 90-day fall22%
200-day average$0.04469 · above
50-day average$0.04393
03 · what the protocol actually earns
Does MegaETH generate fees or revenue?
MegaETH publishes 5 of the six network-economics series this site tracks: network fees, protocol revenue, total value locked, active addresses, transactions. Network activity is evidence about the protocol, not earnings owed to the token. Readings run to the Q3 2026 quarter.
Fees, last 30 days$66.6K
Revenue, last 30 days$58.3K
Fees, last 90 days$190.8K
Active addresses a day, 30-day average1,806
Transactions, last 30 days61,894,046
Source: DefiLlama, daily figures summed to 2026-10-30. Fees are what users paid; revenue is the part the protocol keeps. Active addresses and transactions are for the MegaETH network itself. Fees here are the network fees paid to use MegaETH.
Network fees3 of 20 quarters
Last four quarters——
Protocol revenue3 of 20 quarters
Last four quarters——
Total value locked4 of 20 quarters
Latest quarter$83.1M—
Active addresses3 of 20 quarters
Latest quarter2,228—
Transactions3 of 20 quarters
Last four quarters——
Network fees
Protocol revenue
Total value locked
Active addresses
Transactions
Complete calendar quarters only. A blank quarter is unavailable, not zero. Network activity is evidence about the protocol, not earnings owed to the token.
04 · exact additive research priority
What does the evidence say about MegaETH?
MegaETH scores 55.5 out of 100 inside Layer 2, ranked 10 of 34 rated coins on 43% evidence. The four displayed point contributions add exactly to the total; missing evidence pulls only the affected factor toward neutral and lowers its stated coverage. It ranks research attention within one theme, never portfolio action, and it is not comparable across themes.
What it means: Mostly a price reading: less than half of this score rests on the network's own use (fees, users, deposits), so it says little about the project itself yet.
22.3/35Price leadership
vs Bitcoin (90 days): +1.7 pts · vs its theme (30 days): +26.1 pts · above its 200-day average
80% evidence
15.0/30Usage growth
Fees — · revenue — · users —
0% evidence
10.0/20Value capture
Fee yield — · revenue yield —
0% evidence
8.2/15Liquidity & risk
Typical daily trading: $2.9M · price swings: 109.4% a year
100% evidence
This weakens if: The read weakens if 90-day strength against Bitcoin falls below zero with two weekly closes below the 200-day average, or native activity contracts for two complete calendar quarters.
No valuation section exists on this page, for any coin. There is no company-style P/E or PEG for a token, and historical market capitalisation is not held at all, only a dated current snapshot, so no ten-year valuation band can be built honestly. Where a protocol publishes fees or revenue, the yield against that dated snapshot is shown above instead.
05 · the theme it competes in
How does MegaETH compare with other Layer 2 coins?
MegaETH is one of 45 Layer 2 coins here, 34 of which carry enough evidence to be rated and ranked. MegaETH ranks 10 of those 34 on 43% evidence. The table below is the theme's own scorecard, in its own order, with this coin marked.
The Layer 2 scorecard in its own order, with this coin marked. Scores are within-theme and are not comparable with coins in another theme. See the full Layer 2 page.
Which crypto lists is MegaETH on?
MegaETH is on one of our crypto lists: Altcoins. Every coin we track is in the full ranking on Cryptocurrencies by market cap. List membership comes from CoinGecko's categories and market-cap rank, never from a hand-picked list.
Next to it by size · every coin with a page
Which coins are closest to MegaETH in market cap?
MegaETH is number 257 by market cap among the 604 coins with a page on this site. The 4 just larger and the 4 just smaller are listed here, each with its theme, so the comparison crosses themes. Market cap is the snapshot dated 2026-11-05.
This page names 5 ways its own evidence about MegaETH can mislead, all listed below. The largest is that crypto network activity is not company earnings: protocol revenue does not automatically accrue to token holders. Price runs through 2026-11-04; market capitalisation is a separate snapshot dated 2026-11-05.
Crypto network activity is not company earnings. Protocol revenue does not automatically accrue to token holders.
Market capitalisation is a dated snapshot, not a point-in-time historical supply series, so yields computed against it inherit that lag.
No valuation band exists for any coin: historical market capitalisation is not held at all.
Funding rates, open interest, liquidations, exchange flows, unlock schedules and developer activity are not held and are not inferred.
The research score is relative to this coin's own theme only. It is not comparable across themes and is not an entry signal.
Price and technicalsPrice through 2026-11-04; moving averages and returns through 2026-10-30, from exchange closes; moving averages are computed, never scraped.
Protocol activityThrough 2026-10-30, for the series this token publishes.
Market capSnapshot dated 2026-11-05; no historical supply series is implied.
Decision useResearch priority within one theme. Not entry, exit, sizing or leverage instructions.
Questions the page should answer directly
Crypto analysis FAQs
These 9 answers cover the questions this page can settle from data it holds: what the category is, how the score is built, what the coverage gaps are, and what would change the read. Every answer below is also present in the page’s FAQ schema and in its plain-text rendition. None of them is a recommendation.
What is MegaETH (MEGA)?
MegaETH (MEGA) is a crypto token that CoinGecko lists under smart contract platform and layer 2 (L2). We place it in the Layer 2 theme, with 45 coins. Its highest daily close since 29 May 2026 was $0.06312 on 30 May 2026; its lowest was $0.03117 on 14 August 2026.
What is the market cap of MegaETH?
MegaETH's market capitalisation is $51.7M, ranking it 434 in the top-1,000 crypto universe, read on 5 November 2026. It is refreshed separately from the daily price.
Is MegaETH beating Bitcoin?
Over 90 days MegaETH is 1.7 percentage points ahead of Bitcoin: its own return minus Bitcoin's. Its theme, Layer 2, is +22.4% against Bitcoin over 13 weeks. MegaETH trades above its 200-day average as of 4 November 2026.
What is MegaETH's highest price?
The highest daily close we hold for MegaETH is $0.06312, on 30 May 2026, in records from 29 May 2026. The lowest is $0.03117, on 14 August 2026. The close on 4 November 2026, $0.04612, is 27% below that high.
Does MegaETH have a P/E ratio?
No. There is no company-style P/E or PEG for a crypto token, and no valuation band is shown on this page because the data to build one honestly does not exist: historical market capitalisation is not held, only a current snapshot. Where a protocol publishes fees or revenue, this page shows the yield against that dated snapshot instead.
What is MegaETH's research score?
55.5/100 within Layer 2, ranked 10 of 34 rated Layer 2 coins, on 43% evidence: 22.3 + 15.0 + 10.0 + 8.2 = 55.5. It is labelled “Thinly traded”. The score ranks research attention inside one theme, never portfolio action.
How much MegaETH history does this page show?
Five years of weekly closes where they exist, plus 20 complete calendar quarters of on-chain activity for the metrics MegaETH actually publishes. Here that is network fees, protocol revenue, total value locked, active addresses, transactions.
How much did MegaETH earn in the last 30 days?
In the 30 days to 30 October 2026, DefiLlama shows $66.6K of fees and $58.3K of protocol revenue for MegaETH. Over 90 days: $190.8K of fees. Fees are what users paid; revenue is the part the protocol keeps.
Does MegaETH generate network fees?
MegaETH publishes a network fees series but not a complete four-quarter total. Network activity is not token-holder earnings: whether it accrues to the token depends on the protocol's own burn, buyback and distribution rules.