# Supply ### Circulating Supply The ***Circulating Supply (CS)*** means the amount of coins/tokens/cryptocurrencies that are circulating in the market and are tradeable by the public. It is analogous to the flowing shares in the stock market. The goal of CS is to help calculate and determine its relative cryptocurrency's market capitalization. The method of using CS is analogous to the method of using [public float](https://en.wikipedia.org/wiki/Public_float) to determine the market capitalization of companies in traditional investing. ### Max Supply TokenInsight defines ***Max Supply*** as the maximum number of tokens/coins coded to exist in the lifetime of that cryptocurrency. It is analogous to the maximum number of issuable shares in the stock market. *Max Supply = Theoretical Max Number of Tokens as Coded* ### Market Capitalization #### Market Capitalization (Cryptocurrencies) TokenInsight's Market Capitalization of a specific cryptocurrency reflects a reference of its market scale and share. It is analogous to market capitalization in traditional investing, but it normally has two forms. One is ***Circulating Market Capitalization***, the other is ***Fully Diluted Market Capitalization***. The ***Circulating Market Capitalization*** (CMC, also known as ***Market Cap*** on our website) is the total market value of a cryptocurrency's Circulating Supply. It is analogous to the free-float capitalization in the stock market. *Circulating Market Cap (Market Cap) = Current Price x Circulating Supply* The CMC is calculated by multiplying the existing dynamic reference price of that cryptocurrency by the Circulating Supply (CS) of that cryptocurrency. The ***Fully Diluted Market Capitalization*** (FDMC, also known as ***Fully Diluted Valuation***, FDV) is the market cap when the Max Supply is in circulation: *FDMC (or FDV) = Current Price x Max Supply* The FDMC (or FDV) is calculated by multiplying the existing dynamic reference price of that cryptocurrency by the Max Supply (MS) of that cryptocurrency. Below we give two examples of how we calculate Bitcoin's different market capitalization. Suppose: **Example 1: Circulating Market Capitalization** * BTC Price in USD (TokenInsight) = 40,000 USD / BTC * Current CS of BTC = 19,000,000 BTC * BTC Market Cap in USD (TokenInsight) = (40,000 USD / BTC) \* (19,000,000 BTC) = 760,000,000,000 USD = 760 Billion USD Hence, the TokenInsight BTC Circulating Market Capitalization is 760 Billion USD. **Example 2: Fully Diluted Market Capitalization** * BTC Price in USD (TokenInsight) = 40,000 USD / BTC * Current Max Supply of BTC = 21,000,000 BTC * BTC FDMC (or FDV) in USD (TokenInsight) = (40,000 USD / BTC) \* (21,000,000 BTC) = 840,000,000,000 USD = 840 Billion USD Hence, the TokenInsight BTC Fully Diluted Market Capitalization is 840 Billion USD. #### Market Capitalization (Global) The ***Global Market Capitalization*** of the whole cryptocurrency market (top of the website, below the menu bar) is the sum of the all listed project's ***Circulating Market Capitalization** (Or **Market Cap**)* on TokenInsight. --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://tokeninsight.gitbook.io/support/methodologies/supply.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.