Data: Retail investors poured $1.4 billion into the three oversubscribed ICO projects MetaETH, zkPass, and Momentum this week.

Jinse Finance reported that the privacy protocol zkPass, decentralized exchange Momentum, and Ethereum Layer 2 network MegaETH all saw severe oversubscription in their token sales this week, with retail investors rushing to participate in these emerging crypto projects. The zkPass protocol launched the sale of its utility token ZKP on Monday, surpassing its fundraising target of $2 million within minutes. Although the sale still has three days left, it has already received subscription applications totaling over $67 million. MegaETH's initial coin offering (ICO) for its MEGA token also launched on Monday and was declared "sold out" within just a few minutes; by the end of the auction on Thursday, the oversubscription ratio for this token sale reached 27.8 times, with committed subscription amounts exceeding $1.3 billion. Meanwhile, the decentralized exchange Momentum, built on the Sui blockchain, launched its MMT token sale on Monday and sold out in less than an hour. After the token sale ended, the project had raised over $82 million from users, exceeding its initial target of $4.5 million by 1,739%. The total supply of the token is 1 billion, with both governance and functional attributes, allowing holders to gain permissions and enjoy incentive mechanisms within the ecosystem.