Tokenomics Academy
Circulating Supply vs Total Supply
Circulating supply estimates tokens available to the market; total supply generally includes existing tokens that may not circulate.
How to interpret it
Maximum supply is a separate protocol-level limit when one exists. Definitions can vary among data providers, especially for locked, burned, bridged, or treasury-held tokens.
Research context
Compare supply figures with issuance rules and vesting schedules to understand potential dilution rather than treating one ratio as a forecast.
Data quality matters
Any current figure should identify its source, timestamp, coverage, and calculation method. This educational page does not present live market or protocol data.
Research checklist
- Provider definitions
- Locked and treasury balances
- Burn treatment
- Emission and vesting schedule
Questions and answers
What should I verify when researching circulating supply vs total supply?
Check the definition, source, timestamp, coverage, and methodology. Separate reported data from interpretation and avoid treating one metric as an investment conclusion.