MegaETH Weekly Report — Week 22 (May 25 – May 31, 2026)

MegaETH activity softened modestly this week, with 17.19M total transactions (-3.4% WoW) and a sharper pullback in participation as average daily unique wallets fell to 4.0K (-28.3% WoW). Despite lower user counts, throughput remained steady—daily volume stayed tightly range-bound around ~2.4–2.5M transactions—suggesting the network is still being driven by repeat/automated flows more than broad user expansion. Reliability improved materially: total failed transactions dropped to 42.5K (-40.6% WoW) and the network failure rate halved to 0.2% (prev: 0.4%). In current market conditions, this reads as a consolidation week: fewer wallets taking risk, but consistent baseline usage and cleaner execution.

Daily Transactions — 4 Weeks

Network Activity

The week’s rhythm was notably flat in transaction volume, with each weekday landing within a narrow band (2.44M–2.52M). Monday through Wednesday held at 2.44M–2.45M, then activity rose into Thursday (2.50M) and peaked Friday at 2.52M—the busiest day of the week—before easing into the weekend (2.44M Saturday, 2.40M Sunday). This is a “steady engine” profile: no single day broke away into a true spike, and the weekend decline was present but muted versus what you’d expect from a more retail-heavy flow.

Wallet participation told a different story. Unique wallets were consistently lower than last week, bottoming at 3.6K on Friday and only rebounding on Saturday to the weekly high of 4.4K. That Saturday bump, paired with a volume figure (2.44M) that did not meaningfully exceed weekday levels, reinforces the idea that marginal users returned briefly while the dominant transaction drivers remained constant throughout the week. For broader context and real-time comparisons, the miniblocks dashboard and insights page are the quickest way to validate whether this lower-wallet regime persists into Week 23.

Unique Wallets — 4 Weeks

Throughput and resource usage were stable, with average TPS mostly in the high-20s and a gentle ramp into the end of the workweek: Avg TPS ranged from 27.7–29.2, peaking Friday (Avg TPS 29.2; Peak TPS 34.3). Gas followed the same arc: average Mgas/s rose into Friday at 9.5 with a weekly peak Mgas/s of 11.2, then cooled Sunday (Avg 9.0; Peak 9.7). Importantly, execution quality improved across the week: daily failure rates stayed at 0.2%–0.3% every day, with failed transaction counts far below last week’s worst days.

DApp Leaderboard

This week’s DApp leaderboard was defined by two simultaneous dynamics: (1) contraction at the top of the DeFi stack, and (2) a single standout mover that gained share even as overall participation fell.

World Markets (link) remained #1 with 1.19M weekly transactions, but that was down materially from 1.55M (-23% WoW). Euphoria (link) also retrenched: 308K vs 473K (-35% WoW). In a week where average unique wallets fell -28.3% WoW, a top-of-stack DeFi cooldown is directionally consistent—fewer wallets means fewer new positions, fewer rotations, and less exploratory routing.

The notable exception was Offshore Protocol (link), which grew from 125K to 268K (+115% WoW) and moved convincingly into the top three. This is the clearest “leaderboard shift” of Week 22: Offshore gained absolute volume while peers contracted. With the rest of the top DeFi names down, this type of divergence typically matters more than raw rank—it signals where residual activity is concentrating when the network’s marginal user is less active.

Below the top three, the week was largely a deleveraging of last week’s bursty categories. Ferdy.bet (link) collapsed from 136K to 27.0K (-80% WoW), and Pump Party fell from 26.6K to 3.5K (-87% WoW). Several DEX-labeled venues also compressed: Kumbaya (link) declined from 39.4K to 22.6K (-43% WoW). The overall picture is not “network demand fell off a cliff” (transactions held up), but rather “fewer wallets drove less diverse app exploration,” while persistent flows continued to generate baseline volume.

Two smaller moves are still worth calling out because they reflect relative momentum. gTrade | Gains Network (link) grew from 12.9K to 18.9K (+46% WoW), and Intraverse (link) rose from 879 to 3.4K (+289% WoW). These aren’t large in absolute terms compared to the leaders, but in a week dominated by declines, positive deltas help identify where activity is still expanding at the margin.

Top DApps — 24h Transactions

For broader competitive context beyond the top 15 shown here, the DApps catalog is the cleanest way to track new entrants and rank changes as they occur.

Notable Contracts

Two contract-level themes stood out this week: a dominant unlabeled execution flow that rivaled the top DApps, and a cluster of high-failure interactions around stablecoin-related and other high-revert contracts.

StrategyExecutor (0x681e908b8ab57c49c74d770f369754ccc3e1ae09) drove 1.26M transactions with 0 failed (link). In a week where the top DApp (World Markets) posted 1.19M transactions, a single non-registered contract exceeding that level is structurally important: it implies a large share of network throughput is coming from a contract-centric workflow rather than distinct DApp surfaces. The zero-failure profile also suggests the flow is highly deterministic (or at least well-formed) relative to the week’s other hotspots.
MegaETH - USDm (0xfafddbb3fc7688494971a79cc65dca3ef82079e7) logged 21.0K transactions with 3.2K failed (link). That failure density is notable even in a week with low network-wide failures; it aligns with the broader theme that certain contracts are acting as “revert magnets” (often due to access controls, timing constraints, or automated probing).

Additional notable high-volume contracts (compact view):

0x517d695547270b9ee2f3cbb2d7e17efd5dd40eb3 — 101K txs, 119 failed (link); high activity with low failure rate relative to volume.
0x5ff76e230be069360aa2a5f08ce5576f5f34fff7 — 56.6K txs, 0 failed (link); clean execution profile similar to StrategyExecutor.
drand - DrandOracle (0x08366085a9ff9a5870f3cebd9fc2af456572783c) — 35.4K txs, 0 failed (link); consistent oracle usage without visible revert pressure.
0x5b67c7b88d00122dd1d7dfb4fab26f7b38f8313c — 29.2K txs, 34 failed (link); moderate volume, modest failures.
Infinitism (ERC-4337) - Account Abstraction - ERC4337EntryPoint v0.7 (0x0000000071727de22e5e9d8baf0edac6f37da032) — 14.2K txs, 2 failed (link); steady AA activity with minimal reverts.
0x619814a203ca441611cee02abf31986ca265dd35 — 10.7K txs, 2.6K failed (link); another concentrated failure hotspot.

For continued exploration of contract-driven volume, the contracts explorer is the fastest path to spotting new high-throughput addresses before they appear in the DApp registry.

Reliability & Health

At the network level, Week 22 was healthier than Week 21 by every reliability measure that matters: 42.5K failed transactions vs 71.5K (-40.6% WoW) and a 0.2% failure rate vs 0.4% WoW. The improvement was consistent day-to-day: each day sat at 0.2%–0.3% failed, with no outlier like last week’s 0.9% Monday or 0.6% Sunday. In practical terms, this points to fewer systemic congestion events and fewer bursty “revert storms” at the network layer.

Failure Rate — Last 14 Days

The remaining failure concentration was largely app/contract-specific, and should be interpreted as a usage pattern signal rather than an app-quality judgment:

gTrade | Gains Network (link) posted a 42.5% failure rate (8.0K failed). That magnitude often aligns with adversarial or highly competitive flows (bots, racing conditions, or deliberately failing throttles) rather than organic, single-shot user behavior.
KyberSwap had 19.8% failures (791 failed), Prism 13.1% (236 failed), and GMX 8.7% (134 failed). These are meaningful pockets of reverts even as the network baseline remained low.
Even the leader World Markets ran at 1.5% failures (18.0K failed)—still low in absolute percentage terms, but large in count because of the DApp’s scale.
On the contract side, MegaETH - USDm and 0x619814a203ca441611cee02abf31986ca265dd35 were the standout failure hotspots (3.2K and 2.6K failed respectively), worth monitoring if these failure patterns persist.

Overall severity assessment: low. The network supported a stable ~2.4–2.5M transactions/day cadence while reducing failures materially WoW.

Market & Ecosystem Context

Risk appetite across the broader market remained cautious this week, and MegaETH’s on-chain mix reflected that: fewer unique wallets (-28.3% WoW) and broad pullbacks across major DeFi DApps (World Markets -23%, Euphoria -35%) alongside isolated pockets of growth (Offshore +115%). In parallel, MegaETH TVL drifted lower from $158.8M (7d ago) to $149.8M (-5.7%). While that weekly change is not extreme, it is directionally consistent with the week’s lower participation and DeFi contraction—less rotation and fewer new entrants typically means less TVL expansion.

On TGE progress (megaeth.com/token), the “Live Mafia Apps” track sits at 6/10 qualified apps (Cap, Kumbaya, Showdown, Ubitel, Stomp, Brix). This week’s DApp data doesn’t show a broad-based resurgence among those names (e.g., Kumbaya was down WoW), so the app-driven milestone looks more like a steady-state status than an accelerating trend right now. Meanwhile, the USDm-related track remains stalled at circulating supply $0.0M / $500M target, even though MegaETH - USDm (link) saw non-trivial interaction volume (and elevated failures). The “fees per app” track is also inactive today (0/3 apps above $50K; total fees today $0K).

Week Ahead

Watch whether unique wallets rebound from the 4.0K average—if they don’t, Week 23 is likely to remain dominated by concentrated, repeat flows rather than broad app discovery. On the app side, the key question is whether Offshore Protocol (link) can hold its +115% step-up as leaders like World Markets (link) and Euphoria (link) stabilize. Finally, keep an eye on contract-level drivers—especially StrategyExecutor (link) and the high-failure hotspots around MegaETH - USDm—as they’re increasingly central to understanding where MegaETH’s baseline throughput is actually coming from.