The total number of coins or tokens that currently exist for a cryptocurrency, including both circulating and locked or reserved tokens.
Detailed Explanation
Total supply counts all tokens that have been created minus any that have been verifiably burned (destroyed). It differs from circulating supply (tokens actively available for trading) and max supply (the absolute maximum that will ever exist). Locked tokens in vesting schedules, team allocations, and staking contracts count toward total supply but not circulating supply. These metrics are essential for evaluating tokenomics.
Why It Matters
Total supply directly impacts token valuation and price potential. A token with 1 billion total supply priced at $1 has a $1 billion fully diluted valuation. Understanding the gap between circulating supply and total supply reveals future dilution risk as locked tokens are released. Token unlock events can create significant selling pressure. Comparing market cap to fully diluted valuation helps investors assess whether a token is fairly priced.
Key Considerations
Total supply is a snapshot metric that changes as new tokens are minted or burned. Track supply dynamics over time to understand inflation rates. Compare circulating supply to total supply to gauge how much dilution remains. Token unlock schedules from platforms like TokenUnlocks.app reveal when large supply increases are expected.
Example
A DeFi token has a total supply of 100 million tokens, but only 40 million are circulating (the rest are locked in team vesting). At $5 per token, the circulating market cap is $200M while the fully diluted valuation is $500M, suggesting significant dilution ahead.
Related Terms
Frequently Asked Questions
The total number of coins or tokens that currently exist for a cryptocurrency, including both circulating and locked or reserved tokens.
Total supply directly impacts token valuation and price potential.
CoinGecko and CoinMarketCap display total supply for all listed tokens. For on-chain verification, check the token contract on the relevant block explorer (Etherscan for Ethereum, Solscan for Solana). Project documentation often details supply mechanics and schedules.