The Sandbox

Wormhole

Read

Avalanche

<ul>
 <li>Ripple will unlock $609 million in XRP tokens on August 1, continuing its monthly pattern since 2017.</li>
 <li>Wormhole is releasing 600 million W tokens, valued at $180.5 million, on August 3.</li>
 <li>ImmutableX, Aptos, and The Sandbox will unlock tokens worth $49M, $80M, and $69M, respectively, throughout August.</li>
</ul>
August is poised to see significant activity in the cryptocurrency market with nearly $1.5 billion in tokens scheduled for release. The largest share comes from Ripple, which will unlock up to 1 billion XRP tokens on August 1. This release, valued at approximately $609 million, follows Ripple’s established pattern of monthly unlocks since 2017. Ripple uses several escrow wallets, including <a href="https://xrpscan.com/account/rw2hzLZgiQ9q62KCuaTWuFHWfiX7JWg3wY" target="_blank" rel="noopener noreferrer nofollow">Ripple (24)</a> and <a href="https://xrpscan.com/account/rDqGA2GfveHypDguQ1KXrJzYymFZmKxEsF" target="_blank" rel="noopener noreferrer nofollow">Ripple (25)</a>, to manage these unlocks.
Despite the large volume of tokens being unlocked, Ripple may re-lock a substantial portion. Historically, Ripple has re-escrowed up to 800 million XRP from its June unlock. However, the company still sold around 300 million XRP worth $182 million, as recorded by TradingView. This practice of re-escrowing can significantly reduce the actual amount of XRP entering circulation.
Other Major Tokens Scheduled for Release
In addition to <a href="https://cryptonewsland.com/ripplex-unveils-filedgr-to-elevate-data-transparency/" target="_blank" rel="noopener noreferrer nofollow">Ripple</a>, several other major projects are set to unlock significant amounts of their tokens this month. On August 3, Wormhole will release 33.3% of its circulating supply, translating to 600 million Wormhole (W) tokens worth $180.5 million. This follows Wormhole’s airdrop launch earlier this year.&nbsp;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 $600M XRP token release to bring August crypto unlocks to $1.5B: The month of August is shaping up to be a big month for token unlocks, with just shy of $1.5 billion in tokens being released to the market. <a href="https://t.co/bCkXnug2XF" rel="noopener noreferrer nofollow">https://t.co/bCkXnug2XF</a> <a href="https://twitter.com/hashtag/CryptoNews?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#CryptoNews</a> <a href="https://twitter.com/hashtag/crypto?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#crypto</a> <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> <a href="https://t.co/2mD1vVhonI" rel="noopener noreferrer nofollow">pic.twitter.com/2mD1vVhonI</a>— @zimisss (@zimisss) <a href="https://twitter.com/zimisss/status/1817793471140577419?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 29, 2024</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
Avalanche will unlock 2.4% of its supply on August 20, releasing 9.4 million AVAX tokens valued at $268 million. This release is part of a broader schedule that also includes notable releases from Sui, dYdX, and ZetaChain.&nbsp;
Sui will unlock 2.56% of its circulating supply on August 1, amounting to 64 million tokens valued at $50 million. dYdX will release 8.33 million tokens worth nearly $11 million on the same day, targeting various stakeholders including investors and staff.&nbsp;
Meanwhile, ZetaChain will unlock nearly 18.9% of its supply, releasing 53.9 million ZETA tokens valued at approximately $34.5 million.
Additional Token Unlocks and Market Impact
Further into the month, ImmutableX will unlock 32.5 million IMX tokens on August 9, valued at $49 million. Aptos will follow with a release of $80 million worth of APT tokens on August 12. On August 14 the Sandbox will release SAND tokens valued at $69 million. Additionally participating are Ethereum layer-2 networks with Arbitrum releasing 92.6 million ARB tokens on August 16 and Starknet unlocking 64 million STRK tokens on August 15.
These unlocks will significantly impact the market, potentially affecting token values and overall market dynamics.&nbsp;
The upcoming token releases in August mark a busy period for the cryptocurrency market. With substantial unlocks from major players like Ripple, Wormhole, and Avalanche, market participants should stay informed about potential shifts in token availability and value.
<h4 class="wp-block-heading" id="h-read-also">Read Also:</h4>
<ul class="wp-block-yoast-seo-related-links yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/a-whirlwind-crypto-week-is-upon-us/" rel="noopener noreferrer nofollow">Brace Yourselves, Traders: A Whirlwind Crypto Week is Upon Us!</a></li>
 <li><a href="https://cryptonewsland.com/btc-dominance-highest-since-august-predicted-by-cowen/" rel="noopener noreferrer nofollow">BTC Dominance Highest Since August; Predicted by Cowen</a></li>
 <li><a href="https://cryptonewsland.com/cryptocurrency-3-most-affordable-altcoins-right-now-to-turn-1000-into-10000-by-august-2024/" rel="noopener noreferrer nofollow">Cryptocurrency: 3 Most Affordable Altcoins Right Now to Turn $1000 into $10,000 by August 2024</a></li>
 <li><a href="https://cryptonewsland.com/the-sandbox-to-launch-alpha-season-3-on-august-24/" rel="noopener noreferrer nofollow">The Sandbox to Launch Alpha Season 3 on August 24</a></li>
 <li><a href="https://cryptonewsland.com/robert-kiyosaki-predicts-bitcoin-to-hit-350000-by-august-2024/" rel="noopener noreferrer nofollow">Robert Kiyosaki Predicts Bitcoin to Hit $350,000 by August 2024</a></li>
</ul>
The post <a href="https://cryptonewsland.com/ripple-unlocks-609m-in-xrp-as-1-5b-in-crypto-tokens-release-this-august/" rel="noopener noreferrer nofollow">Ripple Unlocks $609M in XRP as $1.5B in Crypto Tokens Release This August</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.

Ripple Unlocks $609M in XRP as $1.5B in Crypto Tokens Release This August

Crypto News Land

Altri articoli pubblicati su 29 lug 2024

Ripple News: XRP Could Skyrocket to $1,000 if Used for 10% of SWIFT Payments, Says Analyst

Hong Kong’s Bitcoin Ambitions: Lawmaker To Discuss Reserve Opportunities With Industry Players

Senator Cynthia Lummis Proposes U.S. Strategic Bitcoin Reserve to Reduce National Debt

Crypto Price Update: Bitcoin Surge; Solana ETF and Major Altcoins

SHIB and Pepe Holders Jump on Raboo’s Moonwagon Poised To Place Top 20 This Year!

List of Top Four Altcoins Set For ‘Full-Blown Recovery’

Iscriviti alla nostra newsletter gratuita per aggiornamenti giornalieri sulle criptovalute!