Retail throws $1.4B into ‘oversubscribed’ MetaETH, zkPass, Momentum ICOs
Retail investors committed over $1.4 billion across oversubscribed token sales for MetaETH, zkPass, and Momentum ICOs this week.Summary
Token sale events for the privacy protocol zkPass, the decentralized exchange (DEX) Momentum, and the Ethereum layer-2 network MegaETH (referred to as MetaETH in the title) saw massive oversubscription from retail investors.
MegaETH's token auction for its MEGA token reportedly sold out quickly, ultimately raising over $1.3 billion against a $50 million cap, making it 27.8 times oversubscribed. Due to this massive demand, a "special allocation mechanism" will determine user allocations, considering factors like past community engagement and lock-up selections.
Meanwhile, zkPass, a decentralized oracle protocol, surpassed its $2 million target within minutes and accumulated over $67 million in allocation requests. Momentum, a DEX on the Sui blockchain, raised over $82 million, exceeding its $4.5 million target by 1739%.
(Source：Cointelegraph)