August Crypto Unlockings: $1.5B in Tokens, Including 1 Billion XRP

August Crypto Unlockings: What It Means for Crypto Markets

August Crypto Unlockings– In August, nearly $1.5 billion worth of tokens from major crypto projects are scheduled to be unlocked, with 1 billion XRP tokens leading the charge on August 1, valued at approximately $609 million based on current prices.

Ripple, known for its XRP Ledger blockchain and XRP token, has consistently unlocked up to 1 billion tokens at the beginning of each month since 2017. These tokens are distributed evenly from escrow wallets like Ripple (24) and Ripple (25).

Despite the monthly unlock, Ripple often considers re-locking a substantial portion of the newly released XRP. For instance, following the June 1 unlock, Ripple relocked 800 million XRP, yet it proceeded to sell around 300 million XRP, valued at $182 million at that time, as reported by TradingView.

However, the actual amount of XRP entering circulation after these unlocks is usually less than the total unlocked due to a re-escrow process, as explained in a 2017 blog post by XRP Ledger.

Other significant token unlocks in August include those from Avalanche, a layer-1 network, and Wormhole, a cross-chain bridging platform, together releasing tokens valued at $449 million according to Token Unlocks data.

On August 3, Wormhole plans to unlock 33.3% of its circulating supply, totaling 600 million Wormhole (W) tokens currently valued at $180.5 million. This event follows its eagerly awaited airdrop launch on April 4.

Tokens Unlocking on August 1: XRP, Sui, dYdX, and ZetaChain

On August 1, besides XRP, three other projects are set to unlock significant portions of their token supplies. Sui, a layer-1 network, will release 64 million tokens, accounting for 2.56% of its circulating supply, valued at $50 million.

dYdX, a decentralized exchange, plans to unlock 8.33 million tokens worth nearly $11 million on the same day, constituting 3.65% of its circulating supply. Notably, these tokens are designated for investors, founders, staff, and future employees.

ZetaChain, a new universal blockchain launched in February, will unlock nearly 18.9% of its circulating ZETA tokens, totaling 53.9 million tokens with a market value of around $34.5 million.

These unlocks mark significant events in the crypto world as these projects continue to develop and expand their ecosystems.

Other Token Unlocks in August: ImmutableX, Aptos, The Sandbox, Starknet, and Arbitrum

In addition to the initial August 1 releases, several other significant token unlocks are scheduled throughout the month across various crypto projects:

• ImmutableX: On August 9, the crypto gaming network will unlock 32.5 million IMX tokens, equivalent to 2.11% of its circulating supply, valued at $49 million.
• Aptos: Sui’s competitor in the layer-1 network space, Aptos, plans to unlock $80 million worth of APT tokens on August 12, with each token currently valued at $7.05.
• The Sandbox: On August 14, Web3 gaming platform The Sandbox will unlock $69 million worth of SAND tokens, each valued at $0.34.
• Starknet: On August 15, Starknet will release 64 million STRK tokens, amounting to 4.4% of its circulating supply, valued at $35 million.
• Arbitrum: Following on August 16, Arbitrum will unlock 92.6 million ARB tokens, representing 2.8% of its circulating supply, with a market value of $67 million.

These token unlocks signify key events in their respective projects, impacting their market dynamics and signaling developments in the broader crypto ecosystem.

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