The post UMBRA Trades 5X Above ICO Price After Oversubscribed Raise appeared on BitcoinEthereumNews.com. The ICO raised 200x its $750,000 minimum, and more than 50x its hard cap. With the privacy token meta in full swing, the native asset of a new privacy protocol, Umbra, is trading almost five times higher than its initial coin offering (ICO) price, after launching on Friday. Just a few days after its ICO, which priced UMBRA at $0.30, the token is currently changing hands around $1.30 with a fully diluted valuation (FDV) above $36 million, and reached as high as $2.48 yesterday, per data from CoinGecko. UMBRA all-time price chart. Source: CoinGecko Oversubscribed Token Sale Incubated by MetaDAO, Umbra’s ICO experienced overwhelming demand, raising more than 200x its minimum raise and 50x its hard cap. Described as a privacy layer for the Solana blockchain, the project concluded its ICO on Oct. 10 with more than $150 million committed, which carried a minimum raise threshold of $750,000. Following the massive inflows, Umbra’s founder, known as Kru, took to X to address the situation, announcing that the raise is capped at $3 million at roughly an $8.55 million FDV, setting the UMBRA ICO price at $0.30 per token. Umbra ICO. Source: X Considering the $3 million cap, depositors saw roughly 98% of their commitments refunded, with around 2% actually being included in the presale toward UMBRA allocation, MetaDAO explained in a separate X post on Friday. In their X thread, Kru explained the relatively low raise cap: “Umbra has never been about chasing valuations or hype; it’s about building something users need with purpose, integrity, and people we trust. This decision wasn’t made out of restraint, but out of reason. Three million gives us everything we need to execute our roadmap, fund audits, and grow the team sustainably.” They added that the show of investor interest is yet another signal… The post UMBRA Trades 5X Above ICO Price After Oversubscribed Raise appeared on BitcoinEthereumNews.com. The ICO raised 200x its $750,000 minimum, and more than 50x its hard cap. With the privacy token meta in full swing, the native asset of a new privacy protocol, Umbra, is trading almost five times higher than its initial coin offering (ICO) price, after launching on Friday. Just a few days after its ICO, which priced UMBRA at $0.30, the token is currently changing hands around $1.30 with a fully diluted valuation (FDV) above $36 million, and reached as high as $2.48 yesterday, per data from CoinGecko. UMBRA all-time price chart. Source: CoinGecko Oversubscribed Token Sale Incubated by MetaDAO, Umbra’s ICO experienced overwhelming demand, raising more than 200x its minimum raise and 50x its hard cap. Described as a privacy layer for the Solana blockchain, the project concluded its ICO on Oct. 10 with more than $150 million committed, which carried a minimum raise threshold of $750,000. Following the massive inflows, Umbra’s founder, known as Kru, took to X to address the situation, announcing that the raise is capped at $3 million at roughly an $8.55 million FDV, setting the UMBRA ICO price at $0.30 per token. Umbra ICO. Source: X Considering the $3 million cap, depositors saw roughly 98% of their commitments refunded, with around 2% actually being included in the presale toward UMBRA allocation, MetaDAO explained in a separate X post on Friday. In their X thread, Kru explained the relatively low raise cap: “Umbra has never been about chasing valuations or hype; it’s about building something users need with purpose, integrity, and people we trust. This decision wasn’t made out of restraint, but out of reason. Three million gives us everything we need to execute our roadmap, fund audits, and grow the team sustainably.” They added that the show of investor interest is yet another signal…