MegaETH

Momentum

MEGA

Token sale events for privacy protocol zkPass, decentralized exchange Momentum and Ethereum layer-2 network MegaETH have been massively oversubscribed this week, as retail investors clamor to get a slice of emerging crypto projects.&nbsp;
The zkPass protocol launched the sale of its utility ZKP token on Monday and <a href="https://x.com/zkPass/status/1982781596249022626" rel="noopener noreferrer nofollow" target="_blank">surpassed</a> its $2 million target within minutes. The offering still has three days to go, but has received over $67 million worth of allocation requests.
zkPass <a href="https://docs.zkpass.org/zkpass-dao/usdzkp" rel="noopener noreferrer nofollow" target="_blank">bills</a> itself as a decentralized oracle protocol that takes private data held on websites and transforms it into verifiable proofs onchain or in Web3 apps, without exposing the underlying raw data.
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 <img src="https://s3.cointelegraph.com/uploads/2025-10/019a380c-d0b9-7cd0-a5d7-806c557f3edd" title="" alt="Retail throws $1.4B into ‘oversubscribed’ MetaETH, zkPass, Momentum ICOs">
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 Source: <a href="https://x.com/HeyDrops/status/1982796001661403147" rel="noopener noreferrer nofollow" target="https://x.com/HeyDrops/status/1982796001661403147">Crazydrops&nbsp;</a>
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The token itself is a utility token that can be used for settlements within the zkPass ecosystem, verification, and participation in the protocol.
<h2 id="megaeth-s-token-auction-closes-with-1-3-billion-committed">MegaETH’s token auction closes with $1.3 billion committed</h2>
MegaETH’s <a href="https://cointelegraph.com/learn/articles/initial-coin-offering" rel="noopener noreferrer nofollow">initial coin offering</a> for its MEGA token also reportedly <a href="https://cointelegraph.com/news/megaeth-token-sale-oversubscribed-by-8-9x-with-450m-committed" rel="noopener noreferrer nofollow">“sold out” within minutes</a> after opening on Monday, and by the time it <a href="https://sale.megaeth.com/" rel="noopener noreferrer nofollow" target="_blank">closed</a> on Thursday, the token sale was 27.8 times oversubscribed with over $1.3 billion committed.
The ICO was for 5% of the total 10 billion token supply,&nbsp; with a raise cap of just under $50 million. Now that the auction is over, a “special allocation mechanism” will be used to decide each user’s allocation, according to the auction FAQ.
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 <img src="https://s3.cointelegraph.com/uploads/2025-10/019a380c-da2a-72e3-905e-b4edadedb240" title="" alt="Retail throws $1.4B into ‘oversubscribed’ MetaETH, zkPass, Momentum ICOs">
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 MegaETH opened its token auction on Monday and has been oversubscribed by over 27 times at the close. Source: <a href="https://sale.megaeth.com/" rel="noopener noreferrer nofollow" target="https://sale.megaeth.com/">MegaETH</a>
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Past engagement in the MegaETH and Ethereum communities, and whether a <a href="https://cointelegraph.com/explained/vesting-in-crypto-explained" rel="noopener noreferrer nofollow">lock-up was selected</a>, will all be taken into account to decide which users receive an allocation of the MEGA token.
Related: <a href="https://cointelegraph.com/news/hyperliquid-strategies-files-1b-raise-buy-hype" rel="noopener noreferrer nofollow">Hyperliquid Strategies wants $1B to buy further into the HYPE</a>
The token launch date is <a href="https://static.megaeth.com/MEGA%20MiCA%20Whitepaper.pdf" rel="noopener noreferrer nofollow" target="_blank">listed</a> as January 2026 in the project’s white paper, and it will be tradeable on centralized exchanges and decentralized exchanges operating on MegaETH.
<h2 id="momentum-token-oversubscribed-by-1-739">Momentum token oversubscribed by 1,739%</h2>
Meanwhile, Momentum, a decentralized exchange built on the Sui blockchain, <a href="https://buidlpad.com/projects/momentum" rel="noopener noreferrer nofollow" target="_blank">launched </a>the sale of its token MMT on Monday, selling out in under an hour.
After the token sale ended, it had raised over $82 million from users, 1739% over the initial target of $4.5 million.
It has a total supply of 1 billion and serves as <a href="https://docs.mmt.finance/?utm_source=chatgpt.com" rel="noopener noreferrer nofollow" target="_blank">both</a> a governance and utility token, providing access and incentives within the ecosystem.
Magazine: <a href="https://cointelegraph.com/magazine/elon-musk-grokipedia-far-right-or-necessary-wikipedia-competitor/" rel="noopener noreferrer nofollow">Grokipedia: ‘Far right talking points’ or much-needed antidote to Wikipedia?</a>

Retail throws $1.4B into ‘oversubscribed’ MetaETH, zkPass, Momentum ICOs

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