zkPass, MegaETH, and Momentum Token Offerings Exceed Subscription Limits

Token sale events for the privacy protocol zkPass, decentralized exchange Momentum, and Ethereum layer-2 network MegaETH have seen significant demand this week, as retail investors rush to participate in these budding crypto projects.

The zkPass protocol initiated the sale of its utility ZKP token on Monday and exceeded its $2 million goal within minutes. With three days remaining, it has garnered over $67 million in allocation requests.

zkPass positions itself as a decentralized oracle protocol that converts private data stored on websites into verifiable proofs onchain or in Web3 applications, without revealing the raw data.

The token serves as a utility token for transactions within the zkPass ecosystem, verification, and protocol participation.

MegaETH’s token auction wraps up with $1.3 billion secured

MegaETH’s initial coin offering for its MEGA token also reportedly “sold out” in minutes after its launch on Monday. By the time it concluded on Thursday, the token sale was 27.8 times oversubscribed, totaling over $1.3 billion in commitments.

The ICO was for 5% of the total 10 billion token supply, with a cap of just under $50 million. With the auction now finished, a “special allocation mechanism” will determine each user’s allocation, according to the auction FAQ.

Consideration will be given to past engagement in the MegaETH and Ethereum communities and any lock-up choices made to determine which users receive an allocation of the MEGA token.

Related: Hyperliquid Strategies wants $1B to invest further into the HYPE

The token launch date is listed as January 2026 in the project’s white paper, and it will be available for trading on both centralized and decentralized exchanges operating on MegaETH.

Momentum token oversubscribed by 1739%

Meanwhile, Momentum, a decentralized exchange built on the Sui blockchain, initiated the sale of its token MMT on Monday, selling out within an hour.