Ripple has consistently released up to 1 billion tokens on the first day of each month since 2017. The company employs multiple main wallets, including Ripple (24) and Ripple (25), to ensure even distribution of these tokens. Although up to 1 billion XRP tokens are unlocked at the start of each month, the actual amount entering circulation is typically reduced due to re-escrow transactions.
Major Token Unlocks in August
Significant token unlocks in August involve the Layer-1 network Avalanche and the cross-chain bridge platform Wormhole. According to Token Unlocks data, these releases will amount to $449 million worth of tokens. Wormhole will unlock 600 million W tokens worth $180.5 million, representing 33.3% of its circulating supply on August 3. Avalanche will unlock 9.4 million AVAX tokens worth $268 million, or 2.4% of its circulating supply, on August 20.
Other Noteworthy Unlocks
In addition to XRP, other projects will unlock substantial portions of their supplies on August 1. These include the Layer-1 network Sui, the decentralized exchange dYdX, and the blockchain network ZetaChain. Sui will release 64 million tokens worth $50 million, while dYdX will unlock 8.33 million tokens worth approximately $11 million. ZetaChain will unlock about 53.9 million tokens, equating to a market value of $34.5 million.
Significant August Unlock Events
The following key events provide concrete insights into the crypto market:
- ImmutableX will unlock 32.5 million IMX tokens worth $49 million on August 9.
- Aptos will unlock native tokens worth $80 million on August 12.
- The Sandbox will unlock SAND tokens valued at $69 million on August 14.
- Starknet and Arbitrum, two Ethereum Layer-2 networks, will release tokens on August 15 and 16, respectively.
These detailed insights can help investors make informed decisions regarding their crypto portfolios.
Further Details
The crypto gaming network ImmutableX will unlock 32.5 million IMX tokens worth $49 million on August 9. Competitor Layer-1 network Aptos will unlock its native token APT worth $80 million on August 12. Furthermore, the Web3 gaming platform The Sandbox will release SAND tokens valued at $69 million on August 14.
Additionally, Ethereum Layer-2 networks Starknet and Arbitrum are set to unlock tokens on August 15 and 16, respectively. Starknet will release 64 million tokens worth $35 million, while Arbitrum will unlock 92.6 million tokens worth $67 million.