On August 1st, Ripple is set to unlock 1 billion XRP tokens valued at $609 million, potentially impacting the market. With Ripple’s ongoing partnerships and recent market performance, now might be a strategic time to think about investing in XRP.
In August, a total of nearly $1.5 billion worth of tokens from major crypto projects will be unlocked. Ripple will kick off the month with the release of 1 billion XRP tokens worth $609 million. Ripple CEO Brad Garlinghouse has expressed optimism about the exponential growth in RWA tokenization through the Archax partnership.
Since 2017, Ripple has been unlocking 1 billion XRP tokens monthly, but it often re-locks a significant portion. For instance, in June, 800 million XRP were re-locked, while 300 million were released into circulation.
Other notable token unlocks in August include 600 million Wormhole tokens valued at $180.5 million on August 3, and 9.4 million Avalanche tokens worth $268 million on August 20.
Several 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 the expanding partnership between Ripple and Archax to tokenize real-world assets on the XRP Ledger, as previously reported by CNF, it is worth noting that Immutable IMX will unlock 32.5 million tokens worth $49 million on August 9, Aptos will release $80 million worth of tokens on August 12, and The Sandbox will unlock $69 million worth of tokens on August 14.
Additionally, 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. Ripple (XRP) is currently trading at $0.6105, having seen a 0.64% increase in the past day and a 1.30% increase in the past week. Perhaps now is the right time to consider investing in XRP. Check out the XRP price chart below.
For more information:
– Buy Ripple (XRP) Guide
– Ripple XRP Wallet Tutorial
– Check 24-hour XRP Price
– More Ripple (XRP) News
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