MegaETH

MegaETH Public Sale Insights Dashboard by Lampros Tech

MegaETH, a high-performance Layer 2, hosted one of the most active public sales in 2025. The auction saw exceptional on-chain engagement driven by

Together, these factors created a dense flow of on-chain activity across the 72-hour sale, giving rise to several key analytical challenges.

Fragmented Data Streams

MegaETH’s bid, update, and cancel events were spread across multiple Dune tables, which required careful event linking to rebuild accurate bidder histories.

Rapid Bid Volatility

Rapid revisions made wallet states unstable, so we sequenced events precisely to avoid double-counting and maintain a clean timeline.

Misaligned Participation Metrics

Events from the same block were sometimes indexed inconsistently, making timestamp normalisation essential for correct activity flow.

Overlapping Wallet Identities

Many bidders operated through multiple wallets or shared funding sources, which complicated unique participant counts and behavioural grouping.

Partially Decoded Events

Transfers and lock confirmations weren’t always fully decoded in Dune, and required manual review of raw transaction data for completeness.

Ensuring Data Integrity

Every insight was tied back to its transaction hash, ensuring the dataset stayed reliable, transparent, and easy to verify.

Our Approach to On-Chain Analysis

Lampros Tech analysed the MegaETH sale on Dune, turning raw event data into a structured, time-based view of how participation evolved over time.

To achieve this, our team built on Dune’s existing indexing and extended it with

Custom SQL logic

to link events and rebuild complete bid histories.

Time-series aggregation

to organise activity in chronological order.

Wallet segmentation

to identify behavioural patterns across participants.

This framework delivered a verifiable, real-time view of how bidding behaviour changed across categories, time periods, and lock-up types.

The analysis focused on reconstructing and visualising:

Hourly bidding trends

Bid revision patterns

Lock-up distributions

Wallet-level inflows

By structuring the data this way, Lampros Tech turned fragmented on-chain records into clear, reproducible insights.

This gave the researchers, builders, and analysts a transparent understanding of bidder confidence, engagement levels, and participation behaviour throughout the 72-hour sale.

How the MegaETH Sale Really Unfolded

Three distinct phases revealed how capital, confidence, and strategy evolved over the 72-hour MegaETH sale.

Phase 1 : Early Momentum (0–24 hrs)

6,628 bids

in the first hour

6,407 unique bidders

contributed to the early surge.

~$216M USDT committed

setting immediate market momentum.

Unlocked $487M (92.5 %) vs locked $39 M (7.5%),

highlighting short-term dominance with limited long-term allocation.

96.8% single-bid wallets,

indicating front-loaded participation.

Phase 2 : Strategic Consolidation (24–48 hrs)

9,313 bidders

placed a single bid

6,407 unique bidders

contributed to the early surge.

~$216M USDT committed

setting immediate market momentum.

Bid sizes ranged $2.6K to $186K,

with $116M committed in the maximum bid tier.

150–740 unique bidders per hour,

committing $4.17M–$14.9M per hour, indicating steady, measured activity.

Phase 3 : Final Surge & Bid Consolidation (48–72 hrs)

~$635.22M USDT

committed in the last phase with:

26,225 bids placed

24,686 unique bidders placed bids

New participants dominated,

sustaining retail momentum until closure.

Overall $1.39B USDT committed, marking a 27.8× oversubscription

Understanding bidder behaviour isn’t just about reading numbers but about seeing how people act when real value is at stake.

The MegaETH Insights Dashboard turned raw on-chain activity into a transparent view of the sale, showing how participation evolved in real time.

And this is the same lens we bring to every ecosystem we work with.

Clarity on user behaviour

across every auction phase.

Actionable insights,

not just raw metrics.

Custom analytics

aligned with your protocol's goals.

A research partner

focused on intelligence, not data dumps.

Lampros Tech turns complex blockchain activity into clear, strategic intelligence, empowering teams to make confident, data-informed decisions.