Coinbase supports MegaETH deposits ahead of April 30 token event

Coinbase now supports deposits for MegaETH (MEGA) before the project’s token generation event (TGE) on April 30. The Polymarket contract on MegaETH launching a token by April 30 sits at 98.1% YES, with the broader question being whether market cap will exceed $6B one day after launch.

## Market reaction

The April 30 sub-market moved from 97% to 98.1% YES in the past 24 hours, coinciding with the Coinbase deposit listing. The asset issuer still needs to unlock transfers before trading can begin. USDC volume over the past day is $472,618, and it takes $77,754 to move the price by 5 percentage points, indicating real depth in the order book.

## Why it matters

Coinbase deposit support ahead of a TGE signals that a major exchange expects enough demand to justify early infrastructure. The term structure across Polymarket contracts reflects this: June 30 is at 99.8% YES and December 31 at 99.9% YES. At these levels, the market is pricing the token launch as near-certain.

## What to watch

At 98¢, a YES share pays 1.02x, leaving almost no upside for new positions. The contrarian case depends on a TGE delay or regulatory complications affecting the launch. Watch for announcements from the MegaETH team and any updates from Coinbase on when trading (not just deposits) will go live. The TGE itself, scheduled for after April 30, will either confirm or break these prices.

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