Ripple has released up to 1 billion tokens on the first day of each month since 2017. Ripple uses several main wallets, including Ripple (24) and Ripple (25), to distribute the token unlocks evenly. While up to 1 billion XRP tokens are unlocked at the beginning of each month, the actual amount entering circulation will likely be much less due to re-escrow transactions.
Token Unlocks in August
Among the major token unlocks in August, according to Token Unlocks data, are those from the Layer-1 network Avalanche and the cross-chain bridge platform Wormhole, releasing a total of $449 million worth of tokens. Wormhole (W) will unlock 600 million W tokens worth $180.5 million, or 33.3% of its circulating supply, on August 3. This follows its long-awaited airdrop launch on April 4. On August 20, Avalanche will unlock 9.4 million AVAX tokens worth $268 million, or 2.4% of its circulating supply.
In addition to XRP, three more projects will unlock significant portions of their supplies on the first day of August, including the Layer-1 network Sui, the decentralized exchange dYdX, and the blockchain network ZetaChain. Sui will unlock 64 million tokens worth $50 million, representing 2.56% of its circulating supply, on August 1.
On the same day, dYdX will unlock 8.33 million tokens worth approximately $11 million, representing 3.65% of its circulating supply. The tokens will be unlocked for three groups: investors, founders, and staff and future employees. Meanwhile, the new Layer-1 network ZetaChain (ZETA) will unlock approximately 18.9% of its circulating supply on August 1. At current prices, 53.9 million tokens represent a market value of about $34.5 million. This follows its launch in February of this year.
Details on the Subject
The crypto gaming network ImmutableX will unlock 32.5 million IMX tokens worth $49 million, representing 2.11% of its circulating supply, on August 9. Sui’s competitor Layer-1 network Aptos will unlock its native token APT worth $80 million on August 12, and the Web3 gaming platform The Sandbox will unlock SAND worth $69 million on August 14.
Two Ethereum Layer-2 networks, Starknet and Arbitrum, are also preparing to release tokens. On August 15, Starknet will unlock 64 million tokens worth $35 million, representing 4.4% of its circulating supply. On August 16, Arbitrum (ARB) will unlock 92.6 million tokens worth $67 million, representing 2.8% of its circulating supply.
