Nearly $1.5 billion in cryptocurrency tokens will be issued in August, including XRP tokens, most of which will enter the market on August 1st.
The total value of the XRP tokens to be issued is $609 million at the current exchange rate, which represents a substantial portion of the August releases from various crypto projects.
Ripple’s XRP Takes the Lead
Ripple, the company behind the XRP Ledger blockchain and its native XRP token since 2017, will release up to 1 billion tokens on the first day of each month. The company employs several primary escrow wallets, such as Ripple (24) and Ripple (25) wallets, to ensure an even distribution of tokens each month. However, Ripple often re-locks most of the newly issued XRPs.
This is corroborated by a 2017 XRP Ledger blog post, which indicates that the actual amount of XRP in circulation is likely much lower. For instance, 800 million XRP were re-locked from the June 1 issuance, while about 300 million XRP were sold, valued at $182 million at that time, according to TradingView data.
Other Major Token Issuances
In August, XRP tokens are not the only ones being issued. The Avalanche Layer 1 network and the Wormhole cross-chain bridge platform will jointly issue tokens worth $449 million, as reported by Token Unlocks.
On August 3, the Wormhole will release 33.3% of its circulating supply, totaling 600 million Wormhole (W) tokens, valued at $180.5 million based on current market values. Subsequently, on August 20, Avalanche will issue 2.4% of its circulating supply, equating to 9.4 million AVAX tokens, valued at $268 million according to current market rates.
Additionally, three other projects, including the Sui Layer 1 network, the decentralized exchange dYdX, and the ZetaChain “universal” blockchain, will also issue a significant number of tokens on the first day of August.
The Sui network will issue 2.56% of its circulating supply, or 64 million tokens, worth $50 million at current exchange rates. The dYdX exchange will issue 8.33 million tokens on August 1, valued at nearly $11 million—representing 3.65% of its circulating supply. The new ZetaChain Layer 1 network will release nearly 18.9% of its outstanding supply on August 1, with 53.9 million tokens valued at about $34.5 million at current rates.
Moreover, the ImmutableX crypto-gaming network is also preparing for a token issuance. On August 9, it will release 2.11% of its circulating supply, totaling 32.5 million Immutable (IMX) tokens, valued at $49 million in the current market. The Aptos, a competitor to Sui, will issue $80 million worth of its native Aptos tokens on August 12, while The Sandbox game platform in Web3 is set to issue a native Sandbox token worth $69 million on August 14.
Lastly, two Ethereum layer 2 networks, Starknet and Arbitrum, are also planning token releases. On August 15, Starknet will issue 64 million Starknet (STRK) tokens, amounting to 4.4% of its circulating supply. Then, on August 16, Arbitrum will issue 92.6 million Decision (ARB) tokens, representing 2.8% of its circulating supply. The market value of the unreleased tokens is estimated to be $67 million.
Almost $1.5 billion worth of crypto tokens will be issued in August, including XRP tokens, most of which will hit the market on August 1st.
The value of the XRP tokens to be issued is $609 million at the current exchange rate, which makes up a significant portion of the August issuance of various crypto projects.
Ripple’s XRP is in the Lead
Ripple, the company behind the XRP Ledger blockchain and its native XRP token since 2017, will release up to 1 billion tokens on the first day of each month. The company employs several key escrow wallets, such as Ripple (24) and Ripple (25), to evenly distribute releases each month. It’s important to note that Ripple often re-locks a majority of the newly issued XRPs.
This is backed by a 2017 blog post explaining the XRP Ledger, which states that the actual circulating supply of XRP is likely much lower. For instance, 800 million XRP were locked back from the June 1 issuance, but about 300 million XRP were sold, amounting to about $182 million at the time as per TradingView data.
Other Major Token Issuances
In August, a variety of other tokens will also be issued besides XRP. The Avalanche Layer 1 network and the Wormhole cross-chain bridge platform will collectively issue tokens worth $449 million, according to Token Unlocks.
Wormhole and Avalanche Token Releases
On August 3, the Wormhole platform will issue 33.3% of its circulating supply, a total of 600 million Wormhole (W) tokens, valued at approximately $180.5 million based on current market rates. Following this, on August 20th, the Avalanche network will issue 2.4% of its circulating supply, totaling 9.4 million AVAX tokens, worth around $268 million.
Other Notable Projects
Additionally, three significant projects, including the Sui Layer 1 network, the decentralized exchange dYdX, and the ZetaChain “universal” blockchain, are also set to issue substantial amounts of tokens on August 1.
Token Distribution Details
| Project | Supply Issued (%) | Token Amount | Market Value ($) |
|---|---|---|---|
| Sui | 2.56% | 64 million | $50 million |
| dYdX | 3.65% | 8.33 million | $11 million |
| ZetaChain | 18.9% | 53.9 million | $34.5 million |
Upcoming Token Issuances in August
Moreover, the crypto-gaming network ImmutableX is also preparing for a token issuance. On August 9, it will release 2.11% of its circulating supply, amounting to 32.5 million Immutable (IMX) tokens, currently valued at $49 million. Other notable projects on the horizon include:
- Aptos – Will issue $80 million worth of native Aptos tokens on August 12.
- The Sandbox – Preparing to release a native token valued at $69 million on August 14.
- Starknet – Plans to issue 64 million Starknet (STRK) tokens, representing 4.4% of its circulating supply on August 15.
- Arbitrum – Will issue 92.6 million Decision (ARB) tokens, equating to 2.8% of its circulating supply on August 16, valued at approximately $67 million.
Investment Insights
As token issuances ramp up in August, investors should be aware of the market conditions. Factors like supply changes, regulatory news, and technological upgrades can all influence price trends. Monitoring these individual projects and their respective tokenomics is crucial for making informed investment decisions.
Benefits and Practical Tips for Investors
Here are some benefits and practical tips for engaging with crypto token issuances:
- Diversification: Investing in a range of tokens allows for spreading risk across various assets.
- Research: Always investigate the project’s roadmap, team, and community backing before investing.
- Watch Market Trends: Keep an eye on market sentiment and broader economic indicators that could affect prices.
- Timing: Consider the timing of token releases, as initial surges or drops can occur.
Conclusion
As we approach August, the crypto landscape is poised for significant movement with the wave of token issuances scheduled. By staying informed and proactive, investors can position themselves to take advantage of opportunities and navigate challenges effectively.
