Approximately $1.5 billion worth of tokens from major crypto projects will be released in August. The bulk of this amount will consist of 1 billion XRP tokens; These tokens are worth $609 million at current prices on August 1.

Ripple, the firm behind the XRP Ledger blockchain and its native XRP token, has released 1 billion tokens on the first day of every month since 2017. It uses several main collateral wallets such as Ripple (24) and Ripple (25) to evenly distribute the tokens opened each month.

However, Ripple may re-lock most of the newly released XRP. Ripple re-locked 800 million XRP from opening on June 1; However, according to TradingView data, he moved to sell approximately 300 million XRP, which was worth $182 million at that time.

While 1 billion XRP tokens are released at the beginning of each month, it has been stated that the actual amount of XRP released into circulation will be “much less than that”; This occurs due to the recollateralization process. XRP Ledger explained this in a 2017 blog post.

Other major openings in August include openings from layer-1 networks Avalanche and cross-chain bridging platform Wormhole. These projects will release tokens worth $449 million in total.

According to Token Unlocks data, Wormhole will release 33.3% of its circulating supply on August 3, i.e. 600 million Wormhole (W) tokens with a current market cap of $180.5 million. This follows the long-awaited airdrop launch on April 4. On August 20, Avalanche will release 2.4% of Avalanche tokens in circulation, or 9.4 million AVAX, with a current market cap of $268 million.

Apart from XRP, three other projects such as layer-1 network Sui, decentralized exchange dYdX and “universal” blockchain ZetaChain will also release significant amounts of tokens on the first day of August.

Sui will release 2.56% of its circulating supply on August 1, or 64 million tokens with a current value of $50 million. dYdX will release 8.33 million tokens on the same day; These tokens are worth approximately $11 million and make up 3.65% of its circulating supply.

Tokens will be made available to investors, founders, and staff and future employees. Additionally, the new layer-1 network ZetaChain will release 18.9% of ZetaChain (ZETA) tokens in circulation on August 1, i.e. 53.9 million tokens worth $34.5 million at current prices.

This follows the launch in February. Crypto gaming network ImmutableX will release 2.11% of Immutable (IMX) tokens in circulation on August 9; This includes 32.5 million tokens worth $49 million.

Aptos, Sui’s rival layer-1 network, will release $80 million worth of Aptos tokens on August 12. Web3 gaming platform The Sandbox will release $69 million worth of The Sandbox tokens on August 14.

Two Ethereum layer-2 networks, Starknet and Arbitrum, will also release tokens.

On August 15, Starknet will release 64 million Starknet (STRK) tokens, equivalent to 4.4% of its circulating supply; The current market value of these tokens is $35 million. On August 16, Arbitrum will release 92.6 million Arbitrum (ARB) tokens, corresponding to 2.8% of its circulating supply; The market value of these tokens is $67 million.