XRP Token Release Totaling $600M Leads August’s $1.5B Crypto Unlocks
YEREVAN (CoinChapter.com) — August will see nearly $1.5 billion in token releases, with $609 million worth of XRP tokens being unlocked on August 1.
Ripple, behind the XRP Ledger and its native XRP token, unlocks 1 billion XRP tokens on the first day of each month using several main escrow wallets, including Ripple (24) and Ripple (25).
Despite the large unlock, Ripple often re-locks a portion. For instance, in June, Ripple re-locked 800 million XRP tokens. However, it sold around 300 million XRP, valued at $182 million at the time, according to TradingView data.
August Token Unlocks: Avalanche and Wormhole Set for Major Releases
Other significant token unlocks are scheduled for August. For example, the layer-1 network Avalanche and the cross-chain bridging platform Wormhole will release a combined $449 million worth of tokens.
On August 3, Wormhole will unlock 33.3% of its circulating supply, or 600 million Wormhole (W) tokens, valued at $180.5 million. This event follows their airdrop launch on April 4.
Avalanche will release 9.4 million AVAX tokens on August 20, equating to 2.4% of its circulating supply, with a market value of approximately $268 million.
August 1 Token Unlocks: Sui, dYdX, and ZetaChain
Other projects will see significant token unlocks on August 1. First, the layer-1 network Sui will unlock 2.56% of its circulating supply, releasing 64 million tokens valued at $50 million.
Additionally, the decentralized exchange dYdX will unlock 8.33 million tokens, worth nearly $11 million, accounting for 3.65% of its circulating supply. These tokens will unlock for investors, founders, and future employees.
Furthermore, the universal blockchain ZetaChain will unlock 18.9% of its circulating supply, releasing 53.9 million ZETA tokens with a market value of around $34.5 million. This follows its launch in February.
Major Token Unlocks in August: ImmutableX, Aptos, and The Sandbox
Other token unlocks are scheduled throughout the month.
For example, on August 9, ImmutableX will release 32.5 million IMX tokens. These tokens are worth $49 million and account for 2.11% of its circulating supply.
Additionally, on August 12, Aptos, a layer-1 network rivaling Sui, will unlock $80 million worth of its native Aptos (APT) token.
Then, on August 14, the Web3 gaming platform The Sandbox will release $69 million worth of its native SAND tokens.
Starknet and Arbitrum to Release Millions in Tokens Mid-August
Two Ethereum layer-2 networks, Starknet and Arbitrum, will release tokens in August.
On August 15, Starknet will unlock 64 million STRK tokens. This amounts to 4.4% of its circulating supply and is valued at $35 million.
On August 16, Arbitrum will unlock 92.6 million ARB tokens. This represents 2.8% of its circulating supply, with a market value of $67 million.
The post XRP Token Release Totaling $600M Leads August’s $1.5B Crypto Unlocks appeared first on CoinChapter.
