{"id":419941,"date":"2026-02-17T00:45:24","date_gmt":"2026-02-16T19:15:24","guid":{"rendered":"https:\/\/dripp.zone\/news\/megaeth-tvl-rises-65-in-a-week-but-tge-conditions-remain-unmet-crypto-news\/"},"modified":"2026-02-17T00:49:52","modified_gmt":"2026-02-16T19:19:52","slug":"megaeth-tvl-rises-65-in-a-week-but-tge-conditions-remain-unmet-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/megaeth-tvl-rises-65-in-a-week-but-tge-conditions-remain-unmet-crypto-news\/","title":{"rendered":"MegaETH TVL Rises 65% in a Week, but TGE Conditions Remain Unmet – Crypto News"},"content":{"rendered":"

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A week after the much-anticipated L2’s mainnet launch, the network is showing early liquidity gains, but traction is still below its KPIs for the MEGA token launch.<\/p>\n

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Ethereum Layer 2 MegaETH\u2019s mainnet, which launched<\/a> on Feb.\u202f9 following a high\u2011profile stress test ahead of its debut, has seen total value locked climb to roughly $66.48 million as of today, Feb.\u202f16. The total value on MegaETH represents a roughly 65% increase compared with TVL at the immediate post\u2011launch period, where it was around $40.3 million, data<\/a> from DefiLlama shows.<\/p>\n

Total value locked in MegaETH. Source: DefiLlama<\/figcaption><\/figure>\n

Stablecoins account for the bulk of on\u2011chain balances, with the chain\u2019s $99.2 million stablecoin market cap up 56% over the past week, while bridged asset TVL are about $122\u202fmillion.<\/p>\n

\"the-defiant\"
Top protocols by TVL on MegaETH. Source: DefiLlama<\/figcaption><\/figure>\n

Decentralized crypto exchange Kumbaya is the largest app on MegaETH by value locked by a wide margin, with roughly $51 million in TVL, dwarfing other early entrants as users have parked capital in its liquidity pools since launch.<\/p>\n

Behind Kumbaya, yield\u2011oriented vault Avon MegaVault, unified DEX World Markets and multi-chain lending protocol Aave collectively hold about $19 million in TVL as of press time.<\/p>\n

Token Launch KPIs Lag<\/h2>\n

As The Defiant previously reported<\/a>, MegaETH told supporters that its token generation (TGE) event for MEGA is explicitly tied to the network achieving one of three on\u2011chain key performance indicators after mainnet launch:<\/p>\n