Key Takeaways
- Token sales for MegaETH, zkPass, and Momentum collectively attracted approximately $1.4 billion from retail investors, far surpassing their initial fundraising targets.
- MegaETH‘s ICO closed 27.8 times oversubscribed with $1.3 billion committed, achieving a theoretical valuation of over $27 billion.
- The zkPass protocol, which enables private data verification using zero-knowledge proofs, saw over $67 million in allocation requests against a mere $2 million target.
The bull market is back, and the FOMO is real! Retail investors are piling into new token sales with a feverish intensity we haven’t seen in years. The numbers speak for themselves: three major new projects, MegaETH, zkPass, and Momentum, recently launched their ICOs and collectively vacuumed up around $1.4 billion in committed capital. Clearly, the average investor is desperate for a piece of the next big crypto thing.
The undisputed star of this capital flood is the Ethereum Layer-2 project, MegaETH. Despite seeking a modest $50 million for 5% of its MEGA tokens, the sale was obliterated almost immediately. It closed a shocking 27.8 times oversubscribed, with over $1.3 billion committed by Thursday, a wild demonstration of demand that puts its theoretical value north of $27 billion.
The team will now have to use a unique “special allocation mechanism” to figure out who gets the actual tokens. This system is designed to reward loyalists and filter out the quick-flip speculators by checking on-chain activity and rewarding those who committed to the optional one-year token lock-up. If you managed to get an allocation, you’ll be able to access the MEGA token when it launches in January 2026.
zkPass and Momentum See Overwhelming Demand
The demand was not isolated to Layer-2 scaling solutions. The privacy protocol zkPass launched the sale of its utility ZKP token and saw its $2 million target surpassed within minutes. With three days remaining in its offering, allocation requests had already soared past $67 million.
zkPass presents itself as a decentralized oracle protocol, utilizing zero-knowledge proofs to transform sensitive, private data held on external websites into verifiable proofs on-chain, all without exposing the underlying raw data. This technology is critical for secure, privacy-preserving identity solutions in Web3. The ZKP token’s primary function is as a utility token for settlements, verification, and protocol participation within the zkPass ecosystem.
Meanwhile, Momentum, a decentralized exchange (DEX) built on the high-performance Sui blockchain, also experienced extraordinary success. Its MMT token sale launched on Monday, selling out in under an hour. Momentum, the decentralized exchange built on Sui, also witnessed an investor feeding frenzy, smashing its $4.5 million target.
By the time the sale concluded, it had successfully raised over $82 million from its community, representing a staggering 1,739% oversubscription. With a total supply of 1 billion, its MMT token is intentionally designed with a dual role: it grants holders governance power and acts as a utility token to unlock access and incentives within the DEX’s sophisticated concentrated liquidity ecosystem.
The simultaneous, overwhelming success of all three projects, MegaETH, zkPass, and Momentum, across distinct sectors of the blockchain space underscores a broad, aggressive new surge of retail capital pouring into early-stage crypto investments.
Final Thoughts
Let’s be real: when MegaETH, zkPass, and Momentum pull in $1.4 billion combined, you can’t ignore it. That massive oversubscription is shouting one thing: the appetite for fresh, innovative crypto projects is absolutely ravenous. But this retail FOMO (fear of missing out) isn’t just a sign of optimism; it’s a stark reminder. When billions are thrown at a limited supply, fair allocation becomes a massive headache, and it underscores just how much high-stakes speculation is baked into these early-stage digital asset bets.
Frequently Asked Questions
What is the special allocation mechanism for MegaETH?
It’s a system that determines final token distribution by considering a user’s past engagement in the Ethereum/MegaETH community and whether they selected a token lock-up.
What is the main function of the zkPass protocol?
zkPass is a decentralized oracle that uses zero-knowledge proofs to verify private data from websites on-chain without revealing the underlying sensitive information.
How much was Momentum’s token sale oversubscribed?
Momentum’s MMT token sale was oversubscribed by 1,739%, raising over $82 million against a $4.5 million target.
