$MEGA kept about 40% of its May price. The chain under it kept 3.5% of its deposits.
On May 12, apps on MegaETH held about 246 million dollars, per DefiLlama. Today it's about 8.7 million, and the whole network takes in around 1,600 dollars a day in fees. The token went from roughly 0.118 to 0.047 over the same stretch.
On Friday co-founder Shuyao Kong said the team, now called MEGA, cut 20% of staff across the chain, wallet and ecosystem teams. Thirty million dollars of treasury money goes to an AI inference marketplace due in December.
So the AI budget is about 3.4 times everything still parked in #MegaETH apps today. Kong says the new products will run on that same chain.
NFA. DYOR.
On May 12, apps on MegaETH held about 246 million dollars, per DefiLlama. Today it's about 8.7 million, and the whole network takes in around 1,600 dollars a day in fees. The token went from roughly 0.118 to 0.047 over the same stretch.
On Friday co-founder Shuyao Kong said the team, now called MEGA, cut 20% of staff across the chain, wallet and ecosystem teams. Thirty million dollars of treasury money goes to an AI inference marketplace due in December.
So the AI budget is about 3.4 times everything still parked in #MegaETH apps today. Kong says the new products will run on that same chain.
NFA. DYOR.
