Token

Wormhole

Avalanche

Nearly $1.5 billion worth of tokens from prominent crypto projects are slated for unlocking in August. As a matter of fact, a significant portion of this, 1 billion XRP tokens valued at $609 million, will be unlocked on August 1.
<h4 class="wp-block-heading" id="h-ripple-s-monthly-xrp-unlock">Ripple’s Monthly XRP Unlock</h4>
Ripple, the company behind the XRP Ledger blockchain and its native XRP token, has consistently unlocked up to 1 billion tokens on the first day of every month since 2017. This process is managed through several primary escrow wallets, such as Ripple (24) and Ripple (25), which evenly distribute the monthly unlocks.
Despite the large unlocks, Ripple often re-locks a substantial amount of the released XRP. For instance, in June, Ripple re-locked 800 million XRP from its unlock but still sold approximately 300 million XRP, worth $182 million at the time, according to TradingView data.
Nonetheless, although up to 1 billion XRP tokens are unlocked monthly, the actual amount entering circulation is often much lower due to a re-escrow process, as noted in a 2017 XRP Ledger blog post.
<h4 class="wp-block-heading" id="h-other-significant-unlocks">Other Significant Unlocks</h4>
Other major token unlocks in August include those from layer-1 network Avalanche and cross-chain bridging platform Wormhole, with a combined release of $449 million worth of tokens, according to Token Unlocks data.
<ul>
 <li>Wormhole: On August 3, Wormhole will unlock 600 million Wormhole (W) tokens, 33.3% of its circulating supply, valued at $180.5 million. This follows its long-awaited airdrop on April 4.</li>
 <li>Avalanche: On August 20, Avalanche will unlock 9.4 million AVAX tokens, 2.4% of its circulating supply, with a current market value of $268 million.</li>
</ul>
<h4 class="wp-block-heading" id="h-additional-august-unlocks">Additional August Unlocks</h4>
Several other projects will also unlock significant portions of their token supplies on August 1:
<ul>
 <li>Sui: Releasing 64 million tokens, 2.56% of its circulating supply, valued at $50 million.</li>
 <li>dYdX: Unlocking 8.33 million tokens, 3.65% of its circulating supply, worth nearly $11 million. These tokens will be distributed among investors, founders, staff, and future employees.</li>
 <li>ZetaChain: Unlocking 53.9 million tokens, 18.9% of its circulating supply, with a market value of around $34.5 million. ZetaChain launched in February.</li>
</ul>
<h4 class="wp-block-heading" id="h-mid-august-unlocks">Mid-August Unlocks</h4>
Additional notable token unlocks later in the month include:
<ul>
 <li>ImmutableX: Unlocking 32.5 million IMX tokens, 2.11% of its circulating supply, valued at $49 million on August 9.</li>
 <li>Aptos: Releasing $80 million worth of its native APT token on August 12.</li>
 <li>The Sandbox: Unlocking $69 million worth of SAND tokens on August 14.</li>
 <li>Starknet: Unlocking 64 million STRK tokens, 4.4% of its circulating supply, valued at $35 million on August 15.</li>
 <li>Arbitrum: Releasing 92.6 million ARB tokens, 2.8% of its circulating supply, with a market value of $67 million on August 16.</li>
</ul>
The upcoming token unlocks in August represent a significant movement in the crypto market. While substantial amounts are set to be released, mechanisms like re-locking processes help manage the potential impact on the market, ensuring a balanced approach to maintaining token value and market stability.
On another note, In an interview with&nbsp;UNLOCK Blockchain, Reece Merrick, Ripple’s Managing Director for the Middle East and Africa, emphasized Ripple’s unique position at the convergence of two distinct worlds: the traditional financial establishment and the realm of digital assets.&nbsp;Merrick’s&nbsp;insights shed light on Ripple’s trajectory and the evolving landscape it navigates.
Reflecting on Ripple’s origins,&nbsp;Merrick&nbsp;noted, “Our aim has always been to bridge traditional finance and decentralized finance.” Ripple’s early focus on addressing cross-border payment inefficiencies using blockchain and crypto, notably XRP and the XRP Ledger, laid the foundation for its current endeavors.
Full interview <a href="https://www.unlock-bc.com/122605/reece-merrick-ripple-dance-traditional-new-finance-uae/" class="ek-link" rel="noopener noreferrer nofollow">here</a>.
The post <a href="https://www.unlock-bc.com/126379/major-august-token-unlocks-1-5b-surge-led-by-ripples-600m-xrp-release/" rel="noopener noreferrer nofollow">Major August Token Unlocks: $1.5B Surge Led by Ripple’s $600M XRP Release</a> appeared first on <a href="https://www.unlock-bc.com" rel="noopener noreferrer nofollow">UNLOCK Blockchain</a>.

Major August Token Unlocks: $1.5B Surge Led by Ripple’s $600M XRP Release

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