MegaETH Weekly Report — Week 23 (Jun 1 – Jun 7, 2026)

MegaETH’s on-chain activity accelerated meaningfully this week: 19.16M total transactions, up +11.5% WoW from 17.19M, with average daily unique wallets rising to 4.5K (+13.7% WoW). The headline, though, is composition: a sharp early-week wallet spike (8.3K peak) gave way to a lower-but-steady wallet baseline, while transaction throughput continued climbing into Friday’s peak. In current market conditions, that mix reads as “execution-heavy” flow (automation and concentrated power users) rather than broad retail expansion. Network health remained strong despite a modest uptick in failures: weekly failure rate 0.3% (vs 0.2% last week).

Daily Transactions — 4 Weeks

Network Activity

Week 23 started with unusually strong participation, then transitioned into a throughput-driven grind higher. Monday opened as the quietest transaction day at 2.51M, but with a notably high 7.3K unique wallets—already above last week’s daily range. Tuesday extended that participation burst: 2.64M transactions alongside the weekly peak of 8.3K unique wallets. That early-week pattern is the clearest signal of “new/returning” activity this week: participation expanded first, before transactions fully ramped.

Midweek participation cooled sharply while raw throughput held up. Wednesday printed 2.64M transactions but only 3.3K unique wallets, and Thursday pushed to 2.94M transactions with 3.1K wallets. By Friday, the network reached its weekly high at 3.11M transactions (the busiest day), despite only 3.2K unique wallets—consistent with concentrated usage and automated execution rather than a broad wallet expansion. You can explore the broader throughput context on the MegaETH dashboard and analytics pages: https://miniblocks.io/dashboard and https://miniblocks.io/analytics.html.

The weekend softened in transactions (2.72M Saturday, 2.60M Sunday) while failures rose. Average TPS tracked the same arc: 29.1 on Monday, then steadily rising to 36.1 on Friday, before easing back to 31.5–30.1 on Saturday/Sunday. The key takeaway is that the week’s “rhythm” was front-loaded on participation and back-loaded on throughput—often what a network looks like when one or two high-frequency workflows scale up after an initial wave of user-driven activity.

DApp Leaderboard

This week’s competitive landscape was dominated by a single breakaway leader and a clear tiering beneath it.

At the top, World Markets (3.06M, +157% WoW) surged from 1.19M to 3.06M weekly transactions, establishing itself as the primary driver of visible application-layer volume: https://miniblocks.io/dapps/world-markets. The magnitude of the move matters more than the rank itself: the network added ~2M transactions WoW (19.16M vs 17.19M), and World Markets alone increased by ~1.87M (3.06M vs 1.19M). That places this DApp at the center of the week’s growth narrative.

Second place also strengthened: Euphoria (478K, +55% WoW) continued climbing (308K → 478K), reinforcing that DeFi activity expanded even as liquidity conditions deteriorated elsewhere: https://miniblocks.io/dapps/euphoria. Third, Offshore Protocol (246K, -8% WoW) slipped modestly (268K → 246K), more of a normalization than a collapse: https://miniblocks.io/dapps/offshore-protocol.

Below the top three, volumes were smaller but the directional signals still matter:

Kumbaya (25.2K, +11% WoW) grew steadily, with an elevated 3.6% failure rate that may reflect competitive fills, bots, or intentional constraints rather than user-facing instability: https://miniblocks.io/dapps/kumbaya.
Several established names pulled back: gTrade | Gains Network (-34%), Ferdy.bet (-70%), KyberSwap (-27%), GMX (-34%), Prism (-23%), and Pump Party (-82%). In a risk-off week, that pattern fits a “selective concentration” dynamic: fewer venues capturing most flow, while a longer tail de-risks or goes quieter.
Gaming activity was mixed: Intraverse rose (+22%) and TopStrike grew sharply (+83%)—but TopStrike also showed a high failure rate (25.6%), a profile often consistent with highly contested actions: https://miniblocks.io/dapps/intraverse and https://miniblocks.io/dapps/topstrike.

For readers tracking the broader catalog and category mix over time, the DApps directory provides the full index view: https://miniblocks.io/dapps.

Top DApps — 24h Transactions

Notable Contracts

Outside the labeled DApp registry, two themes stood out: a very large, clean execution stream, and a smaller set of contracts with unusually high revert rates.

StrategyExecutor (0x681e908b8ab57c49c74d770f369754ccc3e1ae09) posted 1.31M transactions with only 4 failed, making it one of the week’s most important “unlabeled” sources of load: https://miniblocks.io/contracts/0x681e908b8ab57c49c74d770f369754ccc3e1ae09. The combination of high volume and near-zero failure rate is consistent with well-formed, repeatable calls (often automation), and it aligns with the week’s broader story: wallet participation peaked early, while throughput increased later even with fewer wallets.
MegaETH - USDm (0xfafddbb3fc7688494971a79cc65dca3ef82079e7) recorded 20.8K transactions with 471 failed: https://miniblocks.io/contracts/0xfafddbb3fc7688494971a79cc65dca3ef82079e7. Given the week’s broader liquidity drawdown (see context below), stablecoin-related contract activity is worth monitoring—especially when paired with elevated failures, which can reflect rejected mints/transfers, gating conditions, or competitive execution rather than “broken” behavior.
Infinitism’s ERC-4337 EntryPoint v0.7 (0x0000000071727de22e5e9d8baf0edac6f37da032) logged 18.0K transactions with 9 failed: https://miniblocks.io/contracts/0x0000000071727de22e5e9d8baf0edac6f37da032. That’s not a “spike” on its own, but it’s a useful baseline indicator that account abstraction flows remain present on the network.

Additional high-volume, unlabeled contracts (compact view):

0x517d695547270b9ee2f3cbb2d7e17efd5dd40eb3 — 55.8K txs, 648 failed (moderate revert share; potentially contested usage): https://miniblocks.io/contracts/0x517d695547270b9ee2f3cbb2d7e17efd5dd40eb3
0x5ff76e230be069360aa2a5f08ce5576f5f34fff7 — 52.5K txs, 0 failed (clean, consistent execution stream): https://miniblocks.io/contracts/0x5ff76e230be069360aa2a5f08ce5576f5f34fff7
0x7d35623de9afa0f0a791345b6fa4f9c7ac5ad1a0 — 12.2K txs, 3.3K failed (very high failure concentration; likely highly competitive or heavily gated): https://miniblocks.io/contracts/0x7d35623de9afa0f0a791345b6fa4f9c7ac5ad1a0

Reliability & Health

At the network level, the week remained healthy: 0.3% failure rate on 19.16M transactions. The main change versus last week is directionally upward failures—50.6K failed transactions (vs 42.5K)—and a clear end-of-week skew where failures rose as wallet counts stayed muted.

Daily failure rates stepped up into the weekend: Monday–Friday ranged 0.1%–0.3%, then Saturday and Sunday hit 0.4% with 10.4K and 10.5K failed transactions respectively. This does not, by itself, imply degradation; on fast L2s, failure spikes often accompany competitive interactions (bots racing, sniping, or rapid re-pricing) and can increase precisely when fewer wallets are producing more transactions.

At the DApp layer, the most notable elevated failure rates were concentrated:

TopStrike: 25.6% (506 failed) — a profile consistent with highly contested calls: https://miniblocks.io/dapps/topstrike
gTrade | Gains Network: 25.2% (3.1K failed) — can reflect volatile routing/price protection or competition: https://miniblocks.io/dapps/gtrade-gains-network
KyberSwap: 18.6% (542 failed): https://miniblocks.io/dapps/kyberswap

Overall, failures increased without obvious signs of systemic stress: throughput peaked Friday (44.5 peak TPS) and remained within a tight minimum TPS band across the week (27.0–31.2). The week reads as “busy and slightly more adversarial/competitive at the edges,” not unstable.

Failure Rate — Last 14 Days

Market & Ecosystem Context

Liquidity conditions deteriorated notably even as transactions rose. MegaETH TVL fell to $120.1M, down -19.8% from $149.8M seven days earlier. That’s a meaningful weekly drawdown, and it reframes the on-chain activity growth: this week looked more like higher velocity and execution (trading, strategy loops, automation) than fresh capital deployment.

Stablecoin supply on MegaETH stood at $641.6M total ($205.9M minted, $435.7M bridged). Taken alongside the TVL decline, this points to a plausible “capital stays liquid, risk stays constrained” posture—where stablecoin presence remains, but value parked in DeFi positions is reduced.

On the “Road to TGE” program, the “Live Mafia Apps” counter is currently 6/10, and Kumbaya is listed among qualified apps—relevant given Kumbaya’s +11% WoW growth this week. However, the other two triggers (USDm supply progress and sustained per-app fee targets) are not showing momentum yet, suggesting that current transaction growth is not translating into those specific milestone metrics. Reference: https://www.megaeth.com/token.

Week Ahead

Watch whether early-week participation returns (7.3K–8.3K unique wallets on Mon/Tue) or whether the network remains dominated by lower-wallet, higher-throughput execution into the close. The main “tell” for activity quality next week will be whether World Markets maintains its elevated baseline and whether large unlabeled flows like StrategyExecutor remain at similar scale. Finally, monitor whether TVL stabilizes after the -19.8% weekly drawdown—continued outflows alongside rising transaction counts would reinforce the “higher velocity, lower risk budget” regime.