Circulating supply
An estimate of the asset units available to the market under a data provider's methodology.
In more detail
Circulating supply tries to distinguish available units from allocations treated as locked or otherwise restricted. Providers can draw that boundary differently, including how they handle treasury holdings. This helps explain why two dashboards may show different figures for the same token without either using its stated maximum supply.
How you might use it
"These two dashboards disagree." One counts a treasury allocation as circulating, while the other treats it as locked.
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