Retail Investors Pour $1.4 Billion into Highly Demanded MetaETH, zkPass, and Momentum ICOs

Retail Investors Pour $1.4 Billion into Highly Demanded MetaETH, zkPass, and Momentum ICOs

This week, retail investors heavily invested in three Initial Coin Offerings (ICOs): zkPass, Momentum, and MegaETH. Due to overwhelming demand, these token sales saw massive oversubscriptions, highlighting strong interest in innovative crypto projects.

Key Takeaways

Retail investments in zkPass, MegaETH, and Momentum token sales reached $1.4 billion.
zkPass exceeded its $2 million target shortly after launching, garnering over $67 million in requests.
MegaETH's ICO attracted commitments exceeding $1.3 billion and was oversubscribed by nearly 28 times.
Momentum's token sale raised $82 million, which is 1739% more than its initial target.

Oversubscription of zkPass Token Sale

This week, the token sale events for the zkPass protocol, Momentum decentralized exchange, and MegaETH layer-2 network have been significantly oversubscribed. Retail investors are eager to participate in these emerging crypto projects. On Monday, zkPass launched the sale of its utility token, ZKP, quickly surpassing its initial target of $2 million within just minutes. Even with three days left in the sale, it has already attracted over $67 million worth of allocation requests.

zkPass describes itself as a decentralized oracle protocol that securely transforms private data held on websites into verifiable proofs for on-chain or Web3 applications, all while keeping the original raw data confidential. The utility token ZKP can be utilized for transactions within the zkPass ecosystem, verifying actions, and participating in protocol activities.

zkPass Token Activity Source: Crazydrops

MegaETH’s ICO Closes with $1.3 Billion in Commitments

Similarly, MegaETH's initial coin offering for its MEGA token also reportedly sold out within minutes after its launch on Monday. By Thursday's closing, the token sale was oversubscribed by 27.8 times, with over $1.3 billion committed. The ICO offered 5% of the total supply of 10 billion tokens, with a fundraising goal set just under $50 million.

Following the auction, a "special allocation mechanism" will determine how tokens are allocated to users, taking into account their past engagements in the MegaETH and Ethereum communities, as well as whether a lock-up was selected.

MegaETH Token Auction MegaETH opened its token auction on Monday, experiencing over 27 times oversubscription by the closing time. Source: MegaETH

The token launch date is planned for January 2026, at which point MEGA tokens will be available for trading on both centralized and decentralized exchanges operating under the MegaETH network.

Momentum Token Breaks Records

In a remarkable showing, the Momentum decentralized exchange, built on the Sui blockchain, launched the sale of its MMT token on Monday and sold out in less than an hour. The token sale raised over $82 million, surpassing the initial target of $4.5 million by an astounding 1739%.

With a total supply of 1 billion tokens, MMT functions not only as a governance token but also serves as a utility token, offering access and incentives within the platform’s ecosystem.

Stay tuned for more updates on the dynamic world of cryptocurrency and blockchain technology.