Token sales by privacy protocol zkPass, decentralized exchange Momentum, and Ethereum's second-layer network MegaETH were all severely oversubscribed this week, as retail investors rushed to participate in these emerging crypto projects.
ZkPass, which launched the sale of its token ZKP on Monday, surpassed its $2 million fundraising goal within minutes. Although the sale is still three days away, more than $67 million in subscriptions have been received.
MegaETH's initial coin offering (ICO) for its MEGA tokens was "sold out" within minutes of its launch on Monday; by the end of Thursday's auction, the sale had been oversubscribed by 27.8 times, with commitments exceeding $1.30 billion.
Meanwhile, Momentum, a decentralized exchange built on the Sui blockchain, launched the sale of its token MMT on Monday, which sold out in less than an hour.
Retail investors this week poured $1.40 billion into three "oversubscribed" ICOs: MetaETH, zkPass and Momentum
2025-10-31 02:45:12
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