July is set to see over $1.9 billion in token unlocks, led by RAIN, Hyperliquid, and Pump.fun. The July 6–12 period could bring significant market volatility as fresh supply enters circulation.
July is shaping up to be a huge month for token unlocks. According to data from CryptoRank, Tokenomist, and DefiLlama, more than $1.9 billion worth of crypto tokens are set to enter circulation over the next few weeks. Let’s find out which projects will dominate July’s token unlocks.
That is a lot of fresh supply hitting the market in a short period of time.
Historically, large token unlocks tend to increase market volatility. Early investors, team members, and venture capital firms gain access to previously locked tokens. Sometimes markets absorb the supply without much trouble. Other times, heavy selling pressure follows.
This month, however, most of the attention is focused on just a few projects.
Two projects account for the majority of July's unlock activity.
Rain ($RAIN) is preparing to unlock roughly $812 million worth of tokens on July 11. The release includes approximately 51.8 billion RAIN tokens, representing around 4.5% of the total supply.
Just a few days earlier, Hyperliquid ($HYPE) will unlock around $630 million worth of tokens on July 6. While the percentage of supply being unlocked is smaller at roughly 1%, the overall value remains significant.
Together, RAIN and HYPE represent almost three-quarters of all token unlocks scheduled for July.
That concentration means traders will likely be watching both events very closely.
The biggest concentration of supply arrives during a single week.
Hyperliquid's unlock on July 6 will be followed by Rain on July 11. Then, on July 12, Pump.fun ($PUMP) enters the picture with another major release.
Pump.fun plans to unlock approximately $117 million worth of tokens.
What stands out is not only the dollar value but the percentage. Nearly 9% of PUMP's total supply will become available in one event. Large percentage unlocks often attract attention because they can create additional selling pressure if holders decide to take profits.
For that reason, many analysts expect the July 6 to July 12 period to be one of the most closely watched stretches of the month.
Not every project follows a single unlock schedule.
Unlike cliff unlocks, these releases happen gradually. Still, they continue adding supply to the market every day.
Several other projects are also preparing meaningful unlocks throughout July.
Later in the month, TON ($GRAM) will unlock around $57.5 million worth of tokens on July 23.
Individually, these unlocks may not have a major price impact on the broader market. However, combined with larger releases from RAIN and HYPE, they contribute to a very busy supply calendar.
Token unlocks do not always lead to price declines. In many cases, markets price in these events well ahead of time.
Still, supply matters.
With more than $1.9 billion worth of tokens entering circulation this month, investors will wait to see whether demand can absorb the incoming supply.
For now, July looks set to become one of the busiest months for token unlocks this year. The biggest tests arriving during the second week of the month.
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