Circulating supply is the amount of a token that is considered available in the market or active circulation.
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Short definition
Circulating Supply is circulating supply is the amount of a token that is considered available in the market or active circulation.
Simple explanation
Circulating supply excludes some locked, reserved, or unreleased tokens depending on the data source.
Why it matters
Circulating supply is used to calculate market cap, but definitions can vary.
Example context
Tokens locked for team vesting may not count as circulating supply until they unlock.