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- Ripple will unlock 1 billion XRP tokens worth $609 million on August 1st, potentially impacting the market.
- With Ripple’s ongoing partnerships and recent market performance, it might be a strategic time to consider buying XRP.
In August, nearly $1.5 billion worth of tokens from major crypto projects will be unlocked, starting with a substantial release of 1 billion XRP tokens worth $609 million on August 1 by Ripple. As previously discussed in a CNF post, Ripple CEO Brad Garlinghouse foresees exponential growth in RWA tokenization with the Archax partnership.
As of now, Ripple has been unlocking 1 billion XRP monthly since 2017 but often re-locks a large portion, as it did in June by re-locking 800 million XRP and releasing 300 million into circulation.
As highlighted in today’s CNF YouTube video, other significant unlocks 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 will also release tokens on August 1. Sui will unlock 64 million tokens worth $50 million, while dYdX will release 8.33 million tokens valued at nearly $11 million. ZetaChain is set to unlock 53.9 million tokens worth $34.5 million.
Should you invest in XRP now?
Besides Ripple and Archax’s expanding partnership to tokenize hundreds of millions in real-world assets on the XRP Ledger, as earlier reported by CNF, it is worth noting that later in the month, 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. At the time of writing, Ripple (XRP) is trading at $0.6105, having surged by 0.64% in the past day and 1.30% in the past week. Maybe it’s time to consider buying XRP. See the XRP price chart below.
