Unlocked supply represents the cumulative total of tokens whose time-based restrictions have expired. On Tokenomist's Released Progress bar, it appears as a distinct metric alongside claimed supply, providing a comprehensive view of a token's distribution lifecycle. The critical distinction is that unlocked does not mean distributed — tokens can be unlocked but still sitting in a vesting contract, multisig wallet, or distribution mechanism awaiting withdrawal. This nuance matters because unlocked supply represents the maximum potential sell-side pressure at any given moment. Every unlocked token is eligible to enter the open market, but only claimed tokens have actually moved to beneficiary wallets. The gap between unlocked and claimed supply is a leading indicator: a widening gap suggests beneficiaries are deferring withdrawals (potentially bullish — they're not rushing to sell), while a narrowing gap indicates active claiming that often precedes market selling. On the Released Progress bar, unlocked supply is always shown relative to total supply, giving you a percentage view of how far the token has progressed through its overall distribution schedule. A token with 80% unlocked supply has a fundamentally different risk profile than one with 20% unlocked — the former has already absorbed most of its vesting-related sell pressure, while the latter faces years of dilution ahead. Tokenomist's Supply Analytics tracks this progression in real time across all covered tokens.