On August 1st, Ripple is set to release 1 billion XRP tokens worth $609 million, potentially influencing the cryptocurrency market. Given Ripple’s recent partnerships and strong performance, now might be a strategic time to think about investing in XRP.
Throughout August, a total of nearly $1.5 billion in tokens from various crypto projects will be unlocked, kicking off with Ripple’s release of 1 billion XRP tokens on August 1. Ripple CEO Brad Garlinghouse has expressed optimism about the growth of RWA tokenization through the partnership with Archax.
Since 2017, Ripple has been unlocking 1 billion XRP tokens monthly, but they often re-lock a significant portion. For instance, in June, they re-locked 800 million XRP and released 300 million into circulation.
In addition to Ripple, other notable token unlocks in August include 600 million Wormhole tokens worth $180.5 million on August 3, and 9.4 million Avalanche tokens valued at $268 million on August 20.
Various other projects are also scheduled to release tokens on August 1. Sui will unlock 64 million tokens worth $50 million, dYdX will release 8.33 million tokens valued at nearly $11 million, and ZetaChain is set to unlock 53.9 million tokens worth $34.5 million.
Considering Ripple and Archax’s growing partnership in tokenizing real-world assets on the XRP Ledger, as previously reported by CNF, the month of August will also see Immutable IMX unlocking 32.5 million tokens worth $49 million on August 9, Aptos releasing $80 million worth of tokens on August 12, and The Sandbox unlocking $69 million worth of tokens on August 14.
Furthermore, Starknet will release 64 million tokens worth $35 million on August 15, and Arbitrum will unlock 92.6 million tokens valued at $67 million on August 16. Currently, Ripple (XRP) is trading at $0.6105, having increased by 0.64% in the past day and 1.30% in the past week. It may be a good time to consider investing in XRP. Check out the XRP price chart below.
For more information on buying Ripple (XRP) or to learn about Ripple XRP Wallets, check out our guide. Stay updated with the latest Ripple (XRP) news by subscribing to our daily newsletter for insights and updates. No spam, only valuable information. Subscribe now!