August will be a key month for crypto token unlocks, with nearly $1.5 billion in tokens set to be released. Ripple is leading the way, unlocking 1 billion XRP tokens worth $609 million on August 1 as part of its ongoing strategy.
Additionally, Token Unlocks reports that major tokens like SUI, dYdX, Avalanche, and Wormhole will also have significant unlocks this month.
Significant Token Releases in August: Ripple, Avalanche, and Wormhole
Ripple is not alone in its major token release this August. Avalanche and Wormhole are also set to make substantial contributions to the market.
On August 3, Wormhole will unlock 600 million W tokens, which accounts for 33.3% of its circulating supply and is valued at $180.5 million. Later in the month, on August 20, Avalanche will release 9.4 million AVAX tokens worth $268 million, representing 2.4% of its circulating supply. Together, these releases will add $449 million worth of tokens to the market.
Key Token Unlocks in August: Sui, dYdX, ZetaChain, and More
August will see significant token unlocks from various projects. On August 1, Sui will release 64 million tokens valued at $50 million, dYdX will unlock 8.33 million tokens worth nearly $11 million, and ZetaChain will add 53.9 million tokens valued at around $34.5 million to the market.
Other notable releases throughout the month include ImmutableX on August 9, unlocking 32.5 million tokens valued at $49 million; Aptos on August 12, releasing $80 million worth of APT tokens; and The Sandbox on August 14, with $69 million worth of SAND tokens.
Ethereum layer-2 networks Starknet and Arbitrum will also contribute to the unlocks. On August 15, Starknet will release 64 million tokens valued at $35 million, while Arbitrum will unlock 92.6 million tokens worth $67 million on August 16.
Impact of August’s Token Unlocks on the Market
This wave of token unlocks has the potential to significantly impact the market by introducing a large amount of liquidity and potential trading activity. As these releases unfold, market dynamics are expected to shift, making it crucial to watch how they affect prices and investor sentiment throughout August.
With the stage set for these major releases, excitement is building in the crypto community. Are you ready for the changes ahead?
⚠️Disclaimer
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.
