Retail investors have flooded into this week’s trio of high-profile crypto token sales, pouring more than $1.4 billion into MegaETH, zkPass, and Momentum — all of which became massively oversubscribed within hours of launch.
MegaETH Raises $1.3 Billion, Oversubscribed 27x
Ethereum Layer-2 project MegaETH led the frenzy, closing its token auction Thursday with over $1.3 billion committed, despite setting a fundraising cap just shy of $50 million.
The sale offered 5% of MEGA’s 10 billion token supply and was 27.8 times oversubscribed, according to auction data.
MegaETH will now use a “special allocation mechanism” to distribute tokens, taking into account participants’ community engagement, past Ethereum activity, and whether they opted for token lock-ups.
The project’s token launch is scheduled for January 2026, with trading expected on both centralized and decentralized exchanges. If its implied valuation holds, MegaETH is already valued at over $27 billion — placing it among the largest early-stage crypto projects in history.
zkPass Surges Past $67M in Commitments
Privacy protocol zkPass was the first of the three projects to launch its sale earlier this week. Initially targeting $2 million, zkPass surpassed that amount within minutes and has now attracted over $67 million in allocation requests, despite three days left in the sale.
The ZKP token powers settlements, verification, and governance across the zkPass ecosystem. The protocol enables private data verification from websites to Web3 apps without revealing the underlying data — a breakthrough in privacy-preserving infrastructure.
Momentum Token Sale 1,739% Oversubscribed
Built on the Sui blockchain, decentralized exchange Momentum saw its token sale end in under an hour. The project raised $82 million, smashing its initial $4.5 million target by 1,739%.
The MMT token will serve as both a governance and utility asset, offering incentives, staking options, and discounted trading fees within the Momentum ecosystem.
The outsized retail participation in these three projects marks a resurgence of ICO enthusiasm not seen since the 2021 bull cycle. Analysts say the combination of blockchain infrastructure plays (MegaETH), privacy tech (zkPass), and DEX innovation (Momentum) has reignited investor optimism for early-stage crypto ventures.
With all three offerings oversubscribed by staggering margins, this week’s token sales show one clear trend — retail investors are back, and they’re betting big on the next wave of crypto infrastructure.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.