Crypto Token Sales Skyrocket: zkPass, Momentum, and MegaETH Oversubscribed

Friday Oct 31 2025 02:40

Duration

2 min

  1. 1. Crypto Token Sales Skyrocket: A Closer Look at zkPass, Momentum, and MegaETH

  2. 1.1 zkPass Exceeds Target in Minutes

  3. 1.2 MegaETH Attracts $1.3 Billion in Commitments

  4. 1.3 Momentum Oversubscribed by 1739%

Crypto Token Sales Skyrocket: A Closer Look at zkPass, Momentum, and MegaETH

This week witnessed an unprecedented surge in demand for crypto tokens from several promising projects, highlighting the robust enthusiasm of retail investors for new opportunities in the space. Privacy protocol zkPass, decentralized exchange (DEX) Momentum, and Ethereum layer-2 (L2) network MegaETH each experienced massive oversubscription during their respective token sales.

zkPass Exceeds Target in Minutes

The zkPass protocol launched the sale of its utility token, ZKP, on Monday and swiftly surpassed its $2 million target within mere minutes. Despite the offering remaining open for three days, it garnered allocation requests exceeding $67 million. zkPass positions itself as a decentralized oracle protocol, adept at transforming private data residing on websites into verifiable proofs on-chain or within Web3 applications, all without exposing the underlying raw data. The ZKP token serves as a utility within the zkPass ecosystem, facilitating settlements, verification processes, and participation in the protocol.

MegaETH Attracts $1.3 Billion in Commitments

Similarly, MegaETH's initial coin offering (ICO) for its MEGA token reportedly "sold out" within minutes of its launch on Monday. By the time the sale concluded on Thursday, it had been oversubscribed by a staggering 27.8 times, amassing commitments exceeding $1.3 billion. The ICO represented 5% of the total 10 billion token supply, with a raise cap set just under $50 million. According to the auction's FAQ, a "special allocation mechanism" will be employed to determine each user's token allocation, factoring in past engagement within the MegaETH and Ethereum communities, as well as the selection of a lock-up period.

Momentum Oversubscribed by 1739%

Concurrently, Momentum, a decentralized exchange (DEX) built on the Sui blockchain, initiated the sale of its MMT token on Monday, achieving a complete sell-out in under an hour. Following the token sale's conclusion, Momentum had successfully raised over $82 million from users, representing a remarkable 1739% oversubscription compared to the initial target of $4.5 million. With a total supply of 1 billion tokens, MMT functions as both a governance and utility token, granting access and incentives within the Momentum ecosystem. This overwhelming demand for these tokens underscores the intense investor interest in promising projects within the cryptocurrency space and their eagerness to participate in their early-stage growth.

Risk Warning: This article is provided for informational purposes only and does not constitute investment advice, investment research, or a recommendation to trade. The views expressed are those of the author and do not necessarily reflect the position of Markets.com. When considering shares, indices, forex (foreign exchange), and commodities for trading and price predictions, remember that trading CFDs involves a significant degree of risk and may not be suitable for all investors. Leveraged products can result in capital loss. Past performance is not indicative of future results. Before trading, ensure you fully understand the risks involved and consider your investment objectives and level of experience. Cryptocurrency CFD trading restrictions may apply depending on jurisdiction.

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Written by:

Noah Lee

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