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

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

Nearly $1.5 billion in tokens from major crypto projects are set to be unlocked in August, with 1 billion XRP tokens — valued at $609 million at current prices — making up a significant portion of the month's total on August 1.

As the first day of each month marks a large token unlock for XRP, up to 1 billion tokens are released from several main escrow wallets, including Ripple (24) and Ripple (25), which evenly split the unlocks each month. However, much of the newly released XRP may be re-locked by Ripple.

According to data from TradingView, Ripple re-locked 800 million XRP from its June 1 unlock but still sold around 300 million XRP — valued at $182 million at the time.

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

Tokens set to unlock on the first day of August

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. On August 3, Wormhole will unlock 33.3% of its circulating supply, amounting to 600 million Wormhole (W) tokens with a current market value of $180.5 million, following their airdrop launch on April 4.

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

Other August unlocks

Other than XRP, another three projects will also be unlocking significant portions of their supply on the first day of August, including layer-1 network Sui, decentralized exchange dYdX and “universal” blockchain ZetaChain. Sui will be unlocking 2.56% of its circulating supply, releasing 64 million tokens with a current value of $50 million on August 1. DYdX will be unlocking 8.33 million tokens valued at nearly $11 million on the same day, amounting to 3.65% of its circulating supply. Notably, the tokens will unlock for three groups: investors, founders and staff, and future employees. Meanwhile, the new layer-1 network ZetaChain will be unlocking nearly 18.9% of its circulating supply of ZetaChain (ZETA) tokens on August 1. At current prices, 53.9 million tokens have a market value of around $34.5 million, following its launch in February.

Crypto gaming network ImmutableX will unlock 2.11% of the circulating supply of Immutable (IMX) tokens on August 9, amounting to 32.5 million tokens, which command a current market value of $49 million. Aptos, Sui’s rival layer-1 network, will unlock $80 million worth of its native Aptos tokens on August 12, while Web3 gaming platform The Sandbox will unlock $69 million worth of its native The Sandbox tokens on August 14.

Two Ethereum layer-2 networks, Starknet and Arbitrum, are also set to release tokens. On August 15, Starknet will unlock 64 million Starknet (STRK) tokens, amounting to 4.4% of the token’s circulating supply. The tokens have a current market value of $35 million. On August 16, Arbitrum will unlock 92.6 million Arbitrum (ARB) tokens, amounting to 2.8% of its circulating supply. The market value of the yet-to-be-unlocked tokens stands at $67 million.

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