# What's MegaETH?

*Author: Bankless*
*Published: Jul 3, 2024*
*Source: https://www.bankless.com/whats-megaeth*

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[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2024/07/Group-639--1--1.png)](https://www.bankless.com/sponsor/kraken-1682978636?ref=whats-the-deal-with-megaeth-2&email=true)

  

What's MegaETH?
    
  

  
  Published on July 3, 2024

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  View in Browser

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.  .  .

 
  
    
      
      NEED TO KNOW
    
    
  
  
    
Bittensor Exploit

  

 

[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2024/07/Group-15--64-.png)](https://www.bankless.com/dashboard)- 🤖 **Bittensor Network in 'Safe Mode' Following Exploit.** A Bittensor wallet hack led to user losses of $8M in TAO.
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- ⛏️ **BTC Mining Company Genesis Digital Assets Mulls IPO. **The miner is reportedly talking to advisors about funding options ahead of a debut on public markets.
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.  .  .

 
  
    

    MARKET VIBES

  
  

   Altcoin Breakdown
  
   
     
   
     
    
 

**📸 Daily Market Snapshot: **A number of top altcoins took major haircuts as the market went red after days of more muted price action. ENS dropped 17%. FTM fell 15%. LDO took a 10% haircut. But most concerning to traders was BTC's drop below $60K.

Prices as of 5pm ET
24hr
7d

 

       ![](https://banklesspublic.b-cdn.net/cmc.png)
    

  **Crypto**
   
          $2.20T
       

  
    
    ↘4.0%
    
  

   
    
    ↘2.7%
    
  

       ![](https://banklesspublic.b-cdn.net/btc.png)
    

  **BTC**
   
          $59,793
       

  
    
    ↘3.4%
    
  

   
    
    ↘1.8%
    
  

       ![](https://banklesspublic.b-cdn.net/eth.png)
    

  **ETH**
   
          $3,274
       

  
    
    ↘4.1%
    
  

   
    
    ↘3.2%
    
  
  

       ![](https://s2.coinmarketcap.com/static/img/coins/64x64/29814.png)
    

  **ETHFI**
   
          $2.37

       

  
    
    ↘11.3%
    
  

   
    
    ↘26.9%
    
  

  

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🔒**New Token Rating:** Every single public market buyer of **ETHFI** awoke to find their bags underwater. How will buyers slurping this week’s 20%+ dip fare?[Unlock ETHFI in Token Hub](https://www.bankless.com/tools/token-hub/ether-fi)

.  .  .

 
  
    

ANALYSIS

  
  
    
   
What's the Deal with MegaETH? 
  
  
   
     
     Bankless Author: 
     
       [
       
       Jack Inabinet](https://x.com/JackInabinet)
     
    
 

[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2024/07/image---2024-07-03T164058.339.png)](https://www.bankless.com/whats-the-deal-with-megaeth-2)MegaETH, an upcoming L2 branded as the “*real-time Ethereum*” boasting sub-millisecond latency and capable of processing over 100k transactions per second (TPS), just announced that it has received $20M in seed funding at a $100M+ valuation!

The star-studded raise was led by Dragonfly Capital and includes notable angle participation from Ethereum founder Vitalik Buterin, Consensys founder Joe Lubin, Lido/Flashbots strategy lead Hasu, prolific crypto trader Cobie, and EigenLayer founder Sreeram Kannan. The big names involved have attracted some major attention to the upstart chain.

*Today, we’re discussing what MegaETH is building* 👇

[Read the Free Analysis](https://www.bankless.com/whats-the-deal-with-megaeth-2)
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