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="noreferrer noopener">Ripple (24)</a> and <a href="https://xrpscan.com/account/rDqGA2GfveHypDguQ1KXrJzYymFZmKxEsF" target="_blank" rel="noreferrer noopener">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="noreferrer noopener">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">https://t.co/bCkXnug2XF</a> <a href="https://twitter.com/hashtag/CryptoNews?src=hash&amp;ref_src=twsrc%5Etfw">#CryptoNews</a> <a href="https://twitter.com/hashtag/crypto?src=hash&amp;ref_src=twsrc%5Etfw">#crypto</a> <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://t.co/2mD1vVhonI">pic.twitter.com/2mD1vVhonI</a>— @zimisss (@zimisss) <a href="https://twitter.com/zimisss/status/1817793471140577419?ref_src=twsrc%5Etfw">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, Im... 
The post <a href="https://cryptonewsland.com/ripple-unlocks-609m-in-xrp-as-1-5b-in-crypto-tokens-release-this-august/">Ripple Unlocks $609M in XRP as $1.5B in Crypto Tokens Release This August</a> appeared first on <a href="https://cryptonewsland.com">Crypto News Land</a>.

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

Crypto News Land

Other articles published on Jul 29, 2024

Ethereum’s New ETFs Attract $2.2 Billion, Influencing Trading Surge

South Korean Prosecutors Shut Down $1.3M Crypto Mining Scam Involving Ponzi Scheme and Embezzlement

Ethereum ETFs Debut Strongly: BlackRock and Bitwise Lead with $470.5M Combined Inflows

New Memecoin Pepe Eats Solana Will Hit $10 Million Before Exchange Listing, While SHIB and DOGE U...

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

Polkadot Price Analysis: DOT Unable To Gain Momentum

Join our free newsletter for daily crypto updates!