Circulating supply is the number of units of a cryptocurrency that already exist and are in the hands of holders. Units that haven't been created yet, or that are locked and can't be sold, are not counted.
Examples
In October 2026 there were just over 20.1 million bitcoin in circulation. The total passed 20 million on 9 March 2026. By then more than 95% of the maximum supplyMaximum supplyThe largest number of units of a cryptocurrency that can ever exist under its rules, such as 21 million for bitcoin. was in circulation, even though the last fraction of a bitcoin is still more than a hundred years away.
With XRP the gap is wider. The cap is 100 billion, but in October 2026 about 63 billion were in circulation. A large part of the rest is locked up and released gradually.
Why does it matter?
Market capitalisationMarket capitalisationThe total value of all units of a coin in circulation, calculated as the price of one unit times the number of units. is calculated as price multiplied by circulating supply. If a large share of a coin has yet to reach the market, supply can grow a lot, which can push the price down. So it is worth checking whether releases like that lie ahead for a coin you are interested in.
The figure doesn't tell the whole story either. It also counts units that are lost for good, such as bitcoin whose owner lost the private keyPrivate keyA secret number that proves you own the crypto in your wallet. Whoever holds the private key controls the crypto..
Everything in Myntkaup Learn is written and regularly reviewed by the Myntkaup editorial team. It is for education and is not investment advice. Editorial policy. Updated 18 October 2026.