MegaETH Weekly Report — Week 21 (May 18 – May 24, 2026)

MegaETH cooled modestly after last week’s higher baseline: 17.79M transactions (-3.2% WoW) alongside a sharper contraction in participation, with average daily unique wallets down to 5.5K (-21.8% WoW). Through the week, throughput remained stable early (Mon–Thu) before a clear weekend taper, and reliability improved at the network level with the failure rate easing to 0.4% (from 0.5%). The bigger story wasn’t raw capacity—it was demand concentration: one DeFi venue expanded materially while several previously-high-volume apps retrenched, a pattern consistent with more cautious current market conditions.

Network Activity

The week started strong and then gradually de-risked. Monday was the busiest day at 2.75M transactions with 6.7K wallets, and the network held near that level through Thursday (2.59M–2.70M daily). This “weekday plateau” suggests that baseline automation and recurring activity stayed intact, rather than a one-off spike. Throughput metrics reinforce that steadiness: Monday–Thursday averaged ~30–32 TPS (avg TPS ranging 30.0–31.8), with corresponding average gas usage in a narrow band (9.6–10.3 Mgas/s).

From Friday onward, activity stepped down into a classic weekend slowdown, but with a notable participation drop. Friday slid to 2.38M transactions and 5.3K wallets, then Saturday bottomed at the quietest point: 2.30M transactions and 4.7K wallets. Sunday recovered in transactions to 2.44M but hit the lowest wallet count of the week (3.9K), implying that the rebound was driven more by a smaller set of high-frequency actors than by broad user return.

Across the week, peak TPS and peak gas showed the network had headroom during bursts (e.g., Thu peak TPS 36.3; Thu peak gas 14.2 Mgas/s), while minimums stayed relatively tight, consistent with a healthy, continuously utilized chain rather than intermittent surges. The reliability arc also improved versus last week: total failed transactions fell to 71.5K (-13.8% WoW) and the network failure rate trended lower even as certain high-competition venues continued to exhibit elevated reverts (covered below).

DApp Leaderboard

This week’s competitive landscape was defined by one clear winner and a broad-based pullback elsewhere. World Markets grew strongly to 1.55M (+30%) weekly transactions, widening the gap to the rest of the field and meaningfully reshaping the distribution of where transactions landed. That growth matters because it happened in a week where overall chain transactions were down; share shifted toward World Markets rather than the chain simply expanding.

By contrast, last week’s major volume center softened materially: Euphoria dropped to 473K (-47%), a large contraction that helps explain why total weekly transactions fell despite World Markets’ expansion. Several other DeFi and DEX venues also stepped down in tandem—more consistent with reduced risk appetite and fewer “event-driven” flows than with any single app-specific disruption.

The mid-table was mostly retracement:

• Ferdy.bet posted 136K (-33%).
• Offshore Protocol ended at 125K (-32%).
• DEX activity broadly cooled: Kumbaya at 39.4K (-33%), Prism at 7.1K (-65%), Canonic at 7.0K (-25%), and CurrentX at 1.6K (-36%).
• Perps/leveraged venues also pulled back: gTrade | Gains Network at 12.9K (-38%), while GMX came in at 4.4K (-50%).

The main positive “momentum” signal outside the top slot was small but sharp: YieldOMega rose to 2.6K (+1712%) from a very low base (146 prior week). It’s not volume-defining yet, but it’s the only leaderboard entrant showing expansion that’s clearly decoupled from the week’s general cooldown.

Notable Contracts

Outside the labeled DApp registry, contract-level activity shows where automation and infrastructure calls are concentrating.

The standout was StrategyExecutor (0x681e908b8ab57c49c74d770f369754ccc3e1ae09) with 981K transactions and 0 failed. That is the largest unlabeled flow this week and, given the name and clean execution profile, looks like heavy automated execution rather than user-facing trial-and-error. Track it directly on the contract page: https://miniblocks.io/contracts/0x681e908b8ab57c49c74d770f369754ccc3e1ae09

Second, 0x517d695547270b9ee2f3cbb2d7e17efd5dd40eb3 posted 324K transactions with 5.1K failed. The combination of high volume and non-trivial failures is consistent with competitive transaction patterns (bots racing, state-dependent execution, or rate-limiting mechanics) rather than chain instability: https://miniblocks.io/contracts/0x517d695547270b9ee2f3cbb2d7e17efd5dd40eb3

Third, drand - DrandOracle (0x08366085a9ff9a5870f3cebd9fc2af456572783c) recorded 201K transactions with 0 failed, reinforcing that a meaningful slice of weekly activity is infrastructure-driven and reliably executed: https://miniblocks.io/contracts/0x08366085a9ff9a5870f3cebd9fc2af456572783c

Additional notable high-volume contracts (compact list):

• 0x5ff76e230be069360aa2a5f08ce5576f5f34fff7 — 102K txs, 0 failed (high-throughput, clean execution): https://miniblocks.io/contracts/0x5ff76e230be069360aa2a5f08ce5576f5f34fff7
• GamePlayerManager (0x183afbbca127cbef02426abed18d983c85dce0ab) — 77.9K txs, 438 failed (game-loop style churn): https://miniblocks.io/contracts/0x183afbbca127cbef02426abed18d983c85dce0ab
• StrategyExecutor (0x07e04e47ca503eb97665d10a2a8e76c2681a02ad) — 65.6K txs, 0 failed (a second executor footprint): https://miniblocks.io/contracts/0x07e04e47ca503eb97665d10a2a8e76c2681a02ad
• MegaETH - USDm (0xfafddbb3fc7688494971a79cc65dca3ef82079e7) — 45.1K txs, 710 failed (stablecoin rail activity with some reverts): https://miniblocks.io/contracts/0xfafddbb3fc7688494971a79cc65dca3ef82079e7

For broader contract discovery and cross-checking, the Contracts Explorer and Insights pages remain the fastest way to contextualize whether these flows are isolated or part of a wider cluster.

Reliability & Health

At the network level, this was a cleaner week. Total failed transactions declined to 71.5K (from 83.0K), and the overall failure rate improved to 0.4%. Daily failure rates were low and mostly stable (0.2%–0.3%) with two exceptions: Monday (0.9%) and Sunday (0.6%). Given that Monday was also the busiest day, that spike reads more like early-week competitive flows (launch-style behavior, bots racing, or state-dependent execution) than systemic degradation.

At the DApp level, several venues showed elevated failure rates that are typical under competition and automation:

• World Markets: 2.5% failure rate (38.4K failed) while growing +30% WoW—high activity with meaningful revert volume is consistent with aggressive execution and crowded blocks, not necessarily a user-facing outage.
• gTrade | Gains Network: 25.5% failure rate (3.3K failed) on reduced volume (-38% WoW). This profile often appears when bots probe for fills/conditions or when transactions are sensitive to rapid price/state changes.
• KyberSwap: 23.1% failure rate (1.1K failed) despite relatively low absolute transactions—suggesting a high share of attempts are conditional or competing.
• GMX: 14.2% failure rate (632 failed).
• Kumbaya: 2.5% failure rate (996 failed), modest but notable given its DEX category.

Overall severity assessment: healthy network week. Failures are concentrated in specific high-competition/automation venues rather than broadly distributed across the chain. For a real-time view of hotspots and congestion patterns, the Network Heatmap and Dashboard are the most informative companions to this summary.

Market & Ecosystem Context

Current market conditions stayed cautious through the week, and the on-chain picture matched that tone: participation fell more than raw transactions (wallets -21.8% WoW vs transactions -3.2% WoW), which is consistent with fewer discretionary users while automated strategies continue to run.

On the capital side, TVL was broadly stable week-over-week at $158.5M (down -2.7% vs 7d ago), so there wasn’t a meaningful “this week” TVL shock to explain the activity drawdown. The more important context is the prior slide visible in the 14-day series—from $245.6M (2026-05-12) down to the current ~$158M range—followed by stabilization. This steadier base aligns with the week’s pattern: fewer wallets and cooler DEX/perps activity, but continued heavy execution in a small number of venues and unlabeled executor-style contracts.

On TGE readiness, the “Road to TGE” progress remained unchanged at 6/10 live mafia apps, and the stablecoin/fee-based triggers showed no movement (as reported on https://www.megaeth.com/token). In practical terms, this week’s data doesn’t yet show the broadening participation you would expect as that milestone approaches; the standout is more concentration (World Markets up, many others down) rather than ecosystem-wide acceleration. For the apps explicitly listed as qualified, activity softness in Kumbaya (-33%) and Showdown (-31%) is directionally opposite of what you’d expect from a program-driven growth push, while BRIX and Cap Money should be watched for any resurgence that translates into sustained usage.

Week Ahead

Watch whether World Markets can hold its expanded footprint without pulling network-wide failure rates up—its growth plus 2.5% failures is manageable now, but it’s the clearest concentration point. Separately, monitor whether the weekend participation compression (down to 3.9K wallets on Sunday) rebounds; a return toward last week’s wallet baseline would be the cleanest signal that demand is broadening again rather than consolidating into automation-heavy flows. Finally, keep an eye on unlabeled executor activity—especially StrategyExecutor (0x681e908b8ab57c49c74d770f369754ccc3e1ae09)—as it’s increasingly shaping throughput even when user-facing DApps are cooling.