Is there any minimum traffic requirement or else to get accepted in media.net publishers?
No, they have no minimum traffic limit.
You can find the entire set of their requirements here : <!-- m --><a class="postlink" href="http://www.media.net/TermsOfService">http://www.media.net/TermsOfService</a><!-- m -->
Your content has to be good and also your site has to be professional looking along with privacy policy & terms of use.