Token

Billion

Coin

<ul class="news-points">
 <li>Nearly $1.5 billion worth of tokens will be unleashed in August, with Ripple leading the charge.</li>
 <li>Ripple unlocks 1 billion XRP tokens, worth $609 million, on August 1.</li>
 <li>Other notable unlocks in August include AVAX, Sui, W, SAND, ZetaChain, dYdX, IMX, etc.</li>
</ul>
A massive <a href="https://token.unlocks.app/" target="_blank" rel="noopener noreferrer nofollow">$1.5 billion wave of token unlocks</a> is set to hit the crypto market in August, with Ripple’s XRP leading the way. The XRP token is poised to release 1 billion tokens, valued at approximately $609 million, on August 1st.&nbsp;
Ripple’s massive unlock is part of the platform’s strategic move that began in 2017. The platform engages in a process that unlocks up to 1 billion XRP tokens from two main wallets—Ripple (24) and Ripple (25)—on the first day of each month.
Usually, Ripple re-locks the newly released tokens as part of the strategy. For instance, the platform <a href="https://coinmarketcap.com/community/articles/6659d5848e7a5e61815c66ef/" target="_blank" rel="noopener noreferrer nofollow">offloaded</a> 1 billion tokens on June 1 and relocked 800 million subsequently. As per a report in February, the platform <a href="https://coinedition.com/ripple-unlocked-600m-xrp-but-re-locks-800m-heres-why/" rel="noopener noreferrer nofollow">locked</a> 800 million tokens, worth more than $400 million in its escrow wallet following a comparatively lower amount of release for the month.
Ahead of the monthly token unlock, XRP is trading on a positive track, mark…
The post <a href="https://coinedition.com/crypto-market-to-see-1-5-billion-in-token-unlocks-in-august-ripples-xrp-leads/" rel="noopener noreferrer nofollow">Crypto Market to See $1.5 Billion in Token Unlocks in August, Ripple’s XRP Leads</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Crypto Market to See $1.5 Billion in Token Unlocks in August, Ripple’s XRP Leads

Coin Edition

Other articles published on Jul 29, 2024

The Finance Magnates Pacific Summit 2024

How Blockchain and Smart Contracts can Revolutionize Procurements

5 Best Meme Coins to Watch for Massive Gains as the Next Meme Rally Approaches

Bitcoin On Fire: 20% Surge In 3 Weeks Teases Record-Breaking Potential

Pendle Coin: A New Era in Crypto Investments

10,000,000 Transactions per Week: Cryptonica Reaches a New Milestone

Join our free newsletter for daily crypto updates!