Circulating Supply
The estimated number of coins or tokens currently available to the market, excluding locked or unissued supply.
Circulating supply is the amount of an asset estimated to be available for trading, transfer, or use by the public. It usually excludes unmined coins, locked allocations, treasury reserves, vesting tokens, and other supply that cannot currently circulate.
Circulating supply is used to calculate market capitalization: price multiplied by circulating supply. Different data providers may estimate supply differently, especially when locks, bridges, burns, or lost coins are hard to verify.
Changes in circulating supply can come from mining, staking rewards, token unlocks, burns, bridge issuance, or vesting schedules. Sudden unlocks can increase liquid supply even when total supply is unchanged.
Related terms
Explore connected entries beyond the alphabetical index.
Market Capitalization
→A sizing estimate calculated by multiplying an asset's reference price by its reported circulating supply.
Total Supply
→The amount of a coin or token that currently exists, including circulating, locked, reserved, and escrowed units.
Maximum Supply
→The upper bound on asset issuance under a cryptocurrency's current protocol rules.