The post XRP News Today: Ripple Leads $1.5 Billion Crypto Token Unlock in August appeared first on Coinpedia Fintech News
August is gearing up to be a landmark month for crypto token unlocks, with nearly $1.5 billion worth of tokens set to hit the market. Leading the pack is Ripple, which will unlock 1 billion XRP tokens valued at $609 million on August 1. This is part of Ripple’s ongoing strategy since 2017, where it releases tokens from two main wallets, Ripple (24) and Ripple (25), on the first day of each month.
A recent report from Token Unlocks, a platform closely monitoring token releases, revealed that August is witnessing substantial unlocking events for major tokens like SUI, dYdX, Avalanche, Wormhole, and more.
What should you be aware of?
Major Token Unlocks on the Horizon
Joining Ripple in the significant token releases are Avalanche and Wormhole, which together will add $449 million worth of tokens to the market. On August 3, Wormhole will release 600 million W tokens, representing 33.3% of its circulating supply and valued at $180.5 million. Later in the month, on August 20, Avalanche will unlock 9.4 million AVAX tokens worth $268 million, amounting to 2.4% of its circulating supply.
Early August Unlocks from Sui, dYdX, and ZetaChain
On the first day of August, you will also see notable unlocks from several other projects. Sui will release 64 million tokens valued at $50 million, dYdX will unlock 8.33 million tokens worth nearly $11 million, and ZetaChain will add 53.9 million tokens valued at around $34.5 million to the market.
Throughout August, other significant unlocks include ImmutableX on August 9, which released 32.5 million tokens valued at $49 million; Aptos on August 12, which released $80 million worth of APT tokens; and The Sandbox on August 14, which released $69 million worth of SAND tokens.
Ethereum layer-2 networks Starknet and Arbitrum will also contribute. On August 15, Starknet unlocked 64 million tokens valued at $35 million, and Arbitrum released 92.6 million tokens worth $67 million on August 16.
Investors, Hold Steady!
This wave of token unlocks could considerably impact the market, as it brings a substantial amount of liquidity and potential trading activity. As market dynamics shift, all eyes are on how these releases will influence prices and investor sentiment throughout August.
The stage is set and we’re excited – are you?