Roughly $1.988 billion worth of tokens are scheduled to unlock over the coming month, according to data from Tokenomist, the vesting schedule tracking platform formerly known as TokenUnlocks.

What’s actually unlocking

Token unlocks are exactly what they sound like. Tokens that were previously restricted, typically allocated to early investors, team members, or ecosystem funds, become available for trading on a set schedule.

Tokenomist, which tracks over 1,500 projects by sourcing data from official project documentation and on-chain records, has been reporting elevated unlock activity throughout June. Weekly unlock totals exceeded $640 million earlier in the month, with near-term aggregates hovering between $650 million and $695 million over recent seven-day periods.

Hyperliquid’s HYPE token has been a frequent contributor to these high-value unlock windows, appearing in weeks where total figures exceeded $540 million.