Nearly $1.5B in Tokens from Major Crypto Projects Set to Unlock in August, with 1B XRP Tokens Making Up the Bulk

Ripple, the firm behind the XRP Ledger and the native token XRP, has unlocked up to 1 billion tokens on the first day of every month since 2017.

Major crypto projects are set to see nearly $1.5 billion in tokens解锁 in August, with 1 billion XRP tokens — valued at $609 million at current prices — making up a bulk of the month’s total on Aug. 1.

Ripple, the company behind the XRP Ledger and its native token XRP, has been unlocking up to 1 billion tokens on the first day of each month since 2017. It uses several primary escrow wallets, including Ripple (24) and Ripple (25), to split the unlocks evenly each month.

However, Ripple could be set to re-lock the majority of the newly released XRP. In June, Ripple relocked 800 million XRP out of its June 1 unlock, yet it still sold around 300 million XRP — valued at $182 million at the time — according to TradingView data.

While up to 1 billion XRP tokens are unlocked at the beginning of each month, “the actual amount of XRP that would be released into circulation is likely much less than this” due to a re-escrow process, wrote XRP ledger in a 2017 blog post.

Other major unlocks in August include those from layer-1 network Avalanche and cross-chain bridging platform Wormhole, releasing a combined $449 million worth of tokens, according to Token Unlocks data.

Wormhole (W) will unlock 33.3% of its circulating supply — 600 million W tokens with a current market value of $180.5 million — on Aug. 3. It comes after completing its long-awaited airdrop launch on April 4.

On Aug. 20, Avalanche will unlock 2.4% of the circulating supply of AVAX tokens, amounting to 9.4 million AVAX with a current market value of $268 million.

Tokens unlocking on Aug. 1

Besides XRP, three other projects, including layer-1 network Sui, decentralized exchange (DEX) dYdX, and “universal” blockchain ZetaChain, will also unlock significant portions of their total supply on the first day of August.

Sui will unlock 2.56% of its circulating supply, releasing 64 million tokens valued at $50 million on Aug. 1.

dYdX will unlock 8.33 million tokens worth nearly $11 million the same day — amounting to 3.65% of its circulating supply. The tokens will be unlocked for three groups: investors, founders and staff, and future employees.

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