Crypto Basics 1 min read
Circulating Supply
Also known as: Liquid Supply
The number of coins that are both publicly mined / issued and not locked — the supply actually tradable today.
Supply schedule
- Max supply — theoretical cap (BTC: 21M, ETH: uncapped).
- Total supply = already minted, but may include locked tokens.
- Circulating supply = total − locked / burned.
Why it moves
- Mining / staking emissions gradually raise it.
- Scheduled token unlocks release vested supply in chunks — often bearish short-term.
- Burns (EIP-1559 on Ethereum, exchange burns) remove tokens permanently.
Where it shows up
Anywhere you see a Market Cap figure, the circulating supply is hiding in the formula. Always check the tokenomics before comparing «cheap» and «expensive» projects.