August is poised to be a pivotal month for the cryptocurrency market, with several major projects set to unlock nearly $1 billion worth of tokens. This influx of tokens is expected to stir significant market activity.
Ripple’s Consistent Token Unlocks
Since 2017, Ripple [XRP] has maintained a steady pattern of unlocking 1 billion tokens on the first day of each month. August will be no exception, with an estimated $600 million worth of XRP set to be unlocked. However, Ripple often relocks a substantial portion of these tokens into escrow, leaving the exact amount that will remain in circulation uncertain.
Other Notable Token Unlocks in August
dYdX
dYdX [DYDX] is set to kick off August with a major token unlock event. Over 8 million dYdX tokens, valued at more than $11 million, are scheduled for release. The majority of these tokens are allocated to investors, which could lead to heightened market activity.
Sui Network
On August 1st, the Sui Network [SUI] will unlock over 64 million tokens, valued at nearly $50 million. These tokens are primarily allocated to Series A and B investors, indicating a significant distribution to early backers of the project.
Wormhole
Wormhole [W] will see one of the largest token unlocks in August, with 600 million tokens set to be released on August 3rd. This unlock, valued at over $174 million, is designated entirely for community initiatives and launch purposes.
Aptos
Aptos [APT] is preparing for a notable token unlock event on August 12th, with approximately 11.3 million APT tokens to be released. Valued at over $79 million, this unlock will target a mix of community members, the foundation, core contributors, and investors. Most tokens will be allocated to core contributors and the community.
Arbitrum
Arbitrum [ARB] will unlock over 92.6 million ARB tokens in August, valued at more than $67 million. A significant portion of these tokens is designated for the team.
Avalanche’s Major Token Unlock
Avalanche [AVAX] is gearing up for the largest token unlock of August, with approximately 9.5 million AVAX tokens, valued at over $273 million, set to be released. A substantial portion of these tokens, around 4.5 million AVAX valued at approximately $128.7 million, will be allocated to the team.
Market Implications
As these token unlock events unfold, the cryptocurrency market is likely to experience increased volatility and trading activity. Investors and market participants will be closely watching how these newly unlocked tokens impact market dynamics and overall sentiment.
