The month of August is shaping up to be a big month for token unlocks, with just shy of $1.5 billion in tokens being released to the market.
Nearly $1.5 billion in tokens from major crypto projects are set to be unlocked in August, with 1 billion XRP (XRP) tokens—worth $609 million at current prices—making up a massive part of the month’s total on Aug. 1.
Ripple, the firm behind the XRP Ledger and the native token XRP, has unlocked 1 billion tokens on the first day of every month since 2017. It uses two main wallets, Ripple (24) and Ripple (25), to evenly split the unlocks each month.
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, per Token Unlocks data.
