The “what came first” the chicken or the egg argument is seen even in the cryptocurrency space.
Many cryptocurrency exchanges recognize that the expression COINS IN CIRCULATION are an extremely important “value measurement” of a cryptocurrency versus how many coins are available in their COIN SUPPLY.
The COINS IN CIRCULATION data is critical to cryptocurrency businesses because that figure is multiplied by the price of the coin to determine value. Whitepapers explain this in detail, unfortunately the public does not generally read Whitepapers or fine print and neither do the administrative personnel that are responsible to collect it.
Cryptocurrency Exchanges that list cryptocurrency coins do not hire technicians to handle the administrative aspects of the business. They hire administrative personnel that are not trained in the nuances of cryptocurrency language (whether written or spoken) that define one aspect of the business or another.
It is the Administration personnel that verifies cryptocurrency or token data not technical personnel. COINS IN CURCULATION versus their AVAILABLE SUPPLY or preferably both are invaluable pieces of information.
We wrote to CoinMarketCap LinkedIn page and asked why they had not published Bankcoin Reserve (BCR)’s true COINS IN CIRCULATION number and the response was…
“Because your website identifies its coins that are in circulation as COIN SUPPLY.
They directed me to their Frequently Asked Questions (FAQ) page because this issue comes up often enough that it has a permanent position on the FAQ page.
What is the difference between “Circulating Supply”, “Total Supply”, and “Max Supply”?
Circulating Supply is the best approximation of the number of coins that are circulating in the market and in the general public’s hands.
Total Supply is the total amount of coins in existence right now (minus any coins that have been verifiably burned).
Max Supply is the best approximation of the maximum amount of coins that will ever exist in the lifetime of the cryptocurrency.