On August 1st, Ripple is set to release 1 billion XRP tokens valued at $609 million, potentially impacting the market. With ongoing partnerships and positive market performance, now might be a strategic time to consider 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 hinted at significant 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 substantial portion. For example, in June, they re-locked 800 million XRP and released 300 million into circulation.
Other notable 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.
Several 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 the expanding partnership between Ripple and Archax to tokenize real-world assets on the XRP Ledger, along with upcoming token releases from other projects, investing in XRP now could be a wise decision.
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.
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, with a 0.64% increase in the past day and a 1.30% increase in the past week.
With all these developments, now might be the perfect time to consider investing in XRP. Subscribe to our newsletter for more insights and updates on Ripple (XRP).