CoinGecko Supply Methodology

CoinGecko displays three types of supply values:

1. Max Supply

The maximum number of coins that are coded to exist during the lifetime of the cryptocurrency. This is comparable to the maximum number of issuable shares in the stock market.

• Max Supply = Theoretical maximum as coded

Note: Some projects have an infinite max supply, i.e. there is no predetermined maximum, and the supply can increase indefinitely. 

For Example:
Bitcoin has a Max Supply of 21,000,000 which was used to introduce scarcity. On the other hand, Ethereum has an infinite supply for long-term flexibility and utility.

2. Total Supply

This represents the total amount of coins that have been minted, minus any coins that have been permanently removed from circulation (burned). It is analogous to the outstanding shares in the stock market.

• Total Supply = On-chain supply - Burned tokens

Note: Burned tokens refer to tokens that have been sent to a burner address where no one has the ability to access the fund.

For Example: 

Project A initially had 1,000,000 coins. If 100,000 coins are sent to a burn address, the total supply becomes 900,000.

3. Circulating Supply

The circulating supply refers to the number of cryptocurrency coins or tokens that are publicly available and circulating in the market, excluding those that are locked or vested.

• Circulating Supply = Total Supply - Locked/Vested Wallets*

For Example:

Assuming Project A has a Total Supply of 900,000, with the following details:

• Address A holds 200,000 coins vested for the team with a quarterly release.
• Address B holds 100,000 coins reserved for future marketing operations.
• Address C holds 100,000 coins vested for an investor with a 1-year vesting period.

Circulating Supply =

900,000 - Balance on Address A (200,000) - Address B (100,000) - Address C (100,000) = 400,000

* Locked/ Vested Wallets include foundation/ treasury wallets that are unlocked but uncirculated as they are held by the team.

You may refer to this guide here on how to fill up the Circulating Supply form.