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

MegaETH blew past its fundraising cap with over $1.3 billion committed, achieving a theoretical valuation of over $27 billion after closing on Thursday.

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. 

The zkPass protocol launched the sale of its utility ZKP token on Monday and surpassed 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 bills 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.

Read more