Nearly $1.5 billion in tokens from major crypto projects are set to be unlocked in August, with 1 billion XRP tokens — worth $609 million at current prices — making up a massive part of the month’s total on Aug. 1.
Ripple, the firm behind the XRP Ledger blockchain and its native XRP (XRP $0.61) token, has unlocked up to 1 billion tokens on the first day of every month since 2017. It uses several main escrow wallets, including Ripple (24) and Ripple (25), to evenly split the unlocks each month.
However, Ripple may look to re-lock much of the newly released XRP. Ripple relocked 800 million XRP from its June 1 unlock; however, it still made moves to sell around 300 million XRP — worth $182 million at the time — according to data from TradingView.
While up to 1 billion XRP tokens are unlocked at the start of each month, the actual amount of XRP that would be released into circulation is “likely much less than this” due to a re-escrow process, wrote XRP Ledger in a 2017 blog post.
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