Token

Arbitrum

Wormhole

<p>XRP price prediction is capturing headlines as Ripple’s $600M token release kicks off a significant month for the crypto market. Nearly $1.5 billion in tokens from major projects are set to be unlocked this August, marking a pivotal moment for investors and analysts alike.</p> 
<h2 id="strong-ripple-s-600m-xrp-token-release-strong"><strong>Ripple’s $600M XRP Token Release</strong></h2> 
<p>Ripple, the firm behind the <a href="https://xrpl.org/" rel="nofollow noopener" target="_blank">XRP Ledger</a> and the native XRP token, has reportedly maintained a consistent pattern since 2017, unlocking up to 1 billion XRP tokens on the first day of every month. This August, Ripple continues this trend, with 1 billion XRP tokens, valued at approximately $600 million at current prices, being released.</p> 
<p>According to data from news sources, while Ripple unlocks up to 1 billion XRP tokens each month, the actual amount of XRP that enters circulation is often significantly less. This is due to Ripple’s practice of re-locking a substantial portion of the newly-released tokens. For instance, in June, Ripple re-locked 800 million XRP from its monthly unlock and sold about 300 million XRP, worth $182 million at the time.</p> 
<p>A 2017 blog post from the XRP Ledger supports this by stating, “The actual amount of XRP released into circulation is likely much less than this due to a re-escrow process.” This strategy helps manage XRP’s market supply and stabilize its price.</p> 
<figure id="attachment_33020" aria-describedby="caption-attachment-33020" style="width: 100%" class="wp-caption alignnone">
 <img loading="lazy" loading="lazy" decoding="async" class="wp-image-33020" src="https://thebitjournal.b-cdn.net/wp-content/uploads/2024/07/Heres-How-XRP-Price-will-be-Impacted-from-Ripples-Stablecoin-Launch-1024x536-1.webp" alt="XRP Price Prediction" width="1147" height="600" title="XRP Price Prediction Soars with $600M Token Release, Boosts August Crypto Unlocks to $1.5B 5">
 <figcaption id="caption-attachment-33020" class="wp-caption-text">
  XRP Price Prediction
 </figcaption>
</figure> 
<h2 id="strong-major-august-token-unlocks-strong"><strong>Major August Token Unlocks</strong></h2> 
<p>Aside from XRP price prediction, other significant crypto projects are set to unlock tokens this August. News sources suggest that Layer-1 network Avalanche and cross-chain bridging platform Wormhole are expected to release a combined total of $449 million worth of tokens. Wormhole will reportedly unlock 33.3% of its circulating supply, translating to 600 million W tokens valued at $180.5 million, on August 3. This follows Wormhole’s long-awaited airdrop launch on April 4.</p> 
<p>Avalanche will unlock 2.4% of its circulating supply of AVAX tokens on August 20, amounting to 9.4 million AVAX with a current market value of $268 million. These unlocks are critical for the market, influencing both liquidity and price dynamics.</p> 
<h2 id="strong-other-notable-august-unlocks-strong"><strong>Other Notable August Unlocks</strong></h2> 
<p>News sources reveal that from August 1 will see additional significant unlocks from layer-1 network Sui, decentralized exchange dYdX, and the universal blockchain ZetaChain. Sui will release 64 million tokens, valued at $50 million, making up 2.56% of its circulating supply. Similarly, dYdX will unlock 8.33 million tokens, worth nearly $11 million, amounting to 3.65% of its circulating supply. These tokens will unlock for investors, founders and staff, and future employees.</p> 
<p>ZetaChain will reportedly unlock nearly 18.9% of its circulating supply, translating to 53.9 million tokens valued at $34.5 million. This unlock follows ZetaChain’s launch in February, indicating significant market activity for the new layer-1 network. On August 9, ImmutableX, a crypto gaming network, will reportedly unlock 32.5 million IMX tokens, worth $49 million. Additionally, Aptos, a rival layer-1 network to Sui, will release $80 million worth of its native token APT on August 12.</p> 
<p>&nbsp;</p> 
<figure id="attachment_33021" aria-describedby="caption-attachment-33021" style="width: 100%" class="wp-caption alignnone">
 <img loading="lazy" loading="lazy" decoding="async" class="wp-image-33021" src="https://thebitjournal.b-cdn.net/wp-content/uploads/2024/07/Ripple-News-XRP-Soars-with-244-Fund-Inflow-Surge-Amid-ETF-Speculation-1024x536-1.webp" alt="XRP Price Prediction" width="1147" height="600" title="XRP Price Prediction Soars with $600M Token Release, Boosts August Crypto Unlocks to $1.5B 6">
 <figcaption id="caption-attachment-33021" class="wp-caption-text">
  XRP Price Prediction
 </figcaption>
</figure> 
<p>Additionally, news reports also highlight that the Web3 gaming platform The Sandbox will unlock $69 million worth of SAND on August 14, while Ethereum layer-2 networks Starknet and Arbitrum will release tokens mid-month. Starknet will unlock 64 million tokens worth $35 million on August 15, and Arbitrum will unlock 92.6 million tokens valued at $67 million on August 16.</p> 
<h2 id="strong-xrp-price-prediction-navigating-the-impact-of-token-unlocks-on-market-volatility-strong"><strong>XRP Price Prediction: Navigating the Impact of Token Unlocks on Market Volatility</strong></h2> 
<p>The extensive token unlocks scheduled for August, totalling nearly $1.5 billion, highlight a dynamic and potentially volatile month for the crypto market. Ripple’s $600M XRP token release, in particular, is a significant event that has spurred various XRP price predictions. As the market absorbs these tokens, investors and analysts will closely watch the impacts on liquidity, pricing, and overall market sentiment. With major projects like Avalanche, Wormhole, Sui, and others also contributing to this month’s unlocks, the crypto landscape is poised for notable shifts and developments.</p> 
<p>The extensive token unlocks, including major projects like Avalanche, Wormhole, Sui, and others, will contribute to notable shifts and developments in the crypto landscape. <a href="https://thebitjournal.com/">The BIT Journal</a> responsibly provides latest crypto news and updates, investors should keep a close eye on it.</p>

XRP Price Prediction Soars with $600M Token Release, Boosts August Crypto Unlocks to $1.5B

Indice dei contenuti

The Bit Journal

Altri articoli pubblicati su 29 lug 2024

Movie Review: “House of Ga’a” tells a compelling African story with a universal appeal

Trump’s Bold Bitcoin Agenda for 2024

Bitcoin Cash, BSV skyrocket 14% post Trump’s pro-crypto vows

Crypto Related Stocks Like Coinbase, Marathon Digital And Others Surge After Trump's Pro-Bitcoin ...

Biden Proposes SC Reform To Challenge Donald Trump’s Immunity Ruling

Streamlining Project Deployment in the Blockchain Industry in 2024

Iscriviti alla nostra newsletter gratuita per aggiornamenti giornalieri sulle criptovalute!