August is set to see a significant influx of crypto tokens, with nearly $1.5 billion worth being released.
A major portion of this will come from XRP, with 1 billion tokens—valued at $609 million—unlocked on August 1st.
Since 2017, Ripple, the company behind XRP and the XRP Ledger, has been consistently releasing 1 billion tokens at the start of each month. They utilize two primary wallets, Ripple (24) and Ripple (25), to evenly distribute these tokens monthly.
Other big token releases in August include those from Avalanche and Wormhole, totaling $449 million, according to Token Unlocks.
Wormhole will unlock 600 million W tokens, worth $180.5 million, on August 3rd, following its airdrop launch in April.
Avalanche will release 9.4 million AVAX tokens, valued at $268 million, on August 20th, which is 2.4% of its circulating supply.
August’s Other Big Token Releases
In addition to XRP, three other projects—Sui, dYdX, and ZetaChain—will unlock significant portions of their tokens on August 1st.
Sui will release 64 million tokens, valued at $50 million, which is 2.56% of its circulating supply.
dYdX will unlock 8.33 million tokens, worth nearly $11 million, making up 3.65% of its supply. These tokens will be distributed among investors, founders, staff, and future employees.
ZetaChain will release 53.9 million tokens, valued at around $34.5 million, which is 18.9% of its circulating supply. This comes after its launch in February of this year.
On August 9, ImmutableX will release 32.5 million IMX tokens, worth $49 million, which is 2.11% of its circulating supply.
Aptos, a competitor to Sui, will unlock $80 million worth of its APT tokens on August 12. Then, on August 14, The Sandbox will release $69 million worth of its SAND tokens.
Two Ethereum layer-2 networks, Starknet and Arbitrum, will also unlock tokens.
Starknet will release 64 million tokens on August 15, worth $35 million and representing 4.4% of its supply. Arbitrum will release 92.6 million tokens on August 16, valued at $67 million and making up 2.8% of its supply.
