What does CoinMarketCap circulating supply verification check?
CoinMarketCap circulating supply verification is an evidence-led review of the number a project reports as available in the market. The practical task is to explain how the figure was derived and how the project treats balances that are restricted, reserved or scheduled for release.
Start with the discrepancy your team needs to resolve. It may be an outdated displayed figure, a difference between an internal dashboard and the public token page, or a planned supply update. Record the displayed value and the date you checked it, then compare it with your latest calculation. Do not begin by changing a number to match another source; first identify which wallet balances and allocation records explain the difference.
A useful review file lets another person follow the calculation from source to conclusion. It should make clear:
- which token contract and network the calculation covers;
- which balances are included, excluded or treated as restricted;
- what evidence supports each classification; and
- when the underlying records were last reconciled.
This is different from simply confirming total supply. Total issued tokens, a maximum supply and a project’s circulating supply answer different questions. A reviewer needs the project’s stated method and supporting records, not just a headline number.
Which documents should you prepare before asking for a review?
Prepare a document set that connects the supply calculation to public, checkable records. The strongest file is consistent across the token contract, allocation schedule and project disclosures, with a clear note wherever a classification depends on project policy rather than an on-chain restriction.
Gather the current contract address and network, a dated balance snapshot, and a wallet register that identifies the purpose of each material address. Add vesting or lock agreements, treasury allocation records, token distribution schedules and any relevant unlock or migration documentation. If a balance belongs to a third party or a custody arrangement, include evidence that explains who controls it and whether it can be transferred.
Organize the materials in a review folder with a short index. For each wallet, include its address, balance source, allocation label, restriction or release terms, and the document supporting that label. Link to public explorer records where possible; for private agreements, provide a redacted copy that preserves the relevant parties, dates and token terms. Keep an unredacted version available for the project’s own records.
Before sending anything, check that the token decimals, contract address and snapshot date match across the workbook and source documents. If the project has already requested a CoinMarketCap listing or profile change, align the supply explanation with that submission; the CoinMarketCap listing guide covers the broader preparation. Use CoinMarketCap’s official support resources for its current contact and submission instructions.
How do you calculate and explain the figure?
Build the calculation from token balances first, then document how the project classifies each balance. A transparent schedule is more useful than a single total because it allows a reviewer to see which amounts are treated as available and why.
Create one row for each wallet or defined wallet group. Include the address or group name, observed balance, allocation purpose, restriction status, evidence reference and treatment in the circulating-supply calculation. Keep the arithmetic in the workbook rather than embedding it only in a narrative. Make the snapshot time and source visible so the calculation can be reproduced from the records provided.
| Record | What it establishes | Review check |
|---|---|---|
| Explorer balance | Tokens held at an address | Match the contract and snapshot date |
| Vesting or lock terms | Conditions and release schedule | Confirm the terms cover the wallet shown |
| Treasury record | Project allocation and intended use | Explain whether it is available or reserved |
| Distribution schedule | Planned or completed transfers | Reconcile planned releases with observed balances |
Do not automatically exclude every team, treasury or investor balance, and do not automatically count every token that has been issued. Explain the actual restriction and the project’s chosen treatment, then flag judgment calls instead of disguising them as on-chain facts. This distinction helps keep circulating supply separate from total supply and fully diluted valuation.
How should you present the CoinMarketCap supply request?
Present the request as a concise explanation supported by a traceable calculation, not as a collection of loosely related files. A reviewer should be able to identify the requested change, reproduce the main total and find evidence for the important classifications without searching through unrelated project material.
Use a short cover note with the token name, contract address, network, currently displayed figure, requested figure and snapshot date. Then describe the calculation method in plain language: what you counted, what you did not count and why. Reference the relevant workbook tabs and documents by filename. If an earlier submission used different assumptions, state what changed and point to the updated records.
Before sending, have someone who did not build the spreadsheet check the calculation and links. Ask them to trace a sample wallet from balance source to allocation evidence and then to its treatment in the total. Confirm that the public token page and project materials do not give conflicting explanations. If the issue concerns broader profile data, separate that request from the supply calculation or explain how the two are connected.
CoinMarketCap’s review and displayed data are controlled by the platform, so acceptance of a proposed classification or a particular displayed figure is not within the project’s control. The project can control the completeness, consistency and clarity of its evidence; keep a copy of the submitted file and the correspondence for future updates.
When should you refresh a circulating-supply calculation?
Refresh the calculation when a material event changes balances or the conditions attached to them. A supply file is a dated explanation, not a permanent statement: releases, distributions, burns, migrations and changes in wallet control can all make the previous snapshot less representative.
Set an internal review trigger around events your team can observe. For example, reconcile after a vesting release, a treasury transfer, a token migration or a change to a lock arrangement. Update the balance snapshot and allocation register together, and preserve the previous version so the team can explain what changed between submissions. A dated change log should identify the event, the affected wallets and the reason for any changed classification.
Coordinate the number across the token page request, website, tokenomics materials and investor communications. If a schedule changes but the on-chain balances have not yet moved, distinguish the new schedule from the current circulating figure. If the balances move before documentation is updated, record the event and revise the supporting file promptly.
For projects that need to correct a wider listing profile as well as the supply figure, the CoinMarketCap profile and listing guide helps separate listing preparation from a focused data update. Keep the calculation workbook as the source of truth for the project, and make each later version easy to compare with the last one.
What can the project control in a CoinMarketCap review?
The project can control the quality of its submission, but CoinMarketCap decides how it assesses the evidence and what appears on its page. Treat your proposed circulating supply as a documented position for review, not as a promise that the platform will adopt the figure or complete a change on a particular schedule.
That makes preparation the useful work: confirm the contract and snapshot, reconcile every included balance, explain restricted allocations, and ensure the documents support the methodology note. If a wallet’s status is ambiguous, describe the uncertainty and provide the relevant agreement or control details rather than presenting an assumption as settled fact. Keep a record of the submission and be ready to clarify a specific item if the platform asks.
Do not use a supply update to imply that tokens are liquid, freely transferable or available to the public when the underlying terms say otherwise. Separate an observed balance from the project’s interpretation of that balance, and ensure the language on public materials matches the evidence. If you need an independent document and calculation review, Bitcoin Insider can check the file for consistency before your team sends it.
How does supply verification fit with a CoinMarketCap listing?
Circulating supply verification addresses one part of a token’s public data; it does not replace preparing the rest of a CoinMarketCap profile. If the project is not yet listed, prepare the core listing materials and supply evidence as related but distinct workstreams. If the token is already listed, keep the request focused on the specific discrepancy or updated records.
For a first listing, use the CoinMarketCap listing guide to organize the broader application, then attach a supply workbook that explains the calculation. For an existing listing with a data issue, identify the exact field and provide the dated reconciliation. If the project is also checking its presence on another data provider, the CoinGecko listing guide explains that separate process; do not assume one platform’s displayed figure or review outcome determines the other’s.
Bitcoin Insider approaches this work with a document-first review: we check the wallet register against the calculation, flag unsupported classifications, and return a concise list of gaps before your team submits. To start, send the token contract and network, the current public figure, your workbook and the allocation or vesting records that support it. We will confirm the review scope and the next actions before work begins. For hands-on help, see circulating supply verification.
Prices
| Service | Price | Quote |
|---|---|---|
| Supply verification guide | from $1,450 / project |
Starting prices in USD. Custom bundles and volume discounts on request. Payment in USDT, USDC, BTC, ETH, SOL, TON or your project token.
How it works
- Capture the current public figureRecord the token page, displayed circulating supply and the date checked. Note the exact discrepancy or update your team wants reviewed.
- Reconcile balancesBuild a dated wallet register from the relevant contract and balance sources. Match each wallet to its allocation and any restriction or release terms.
- Assemble supporting recordsAdd vesting, lock, treasury and distribution documents, with a clear index that connects each file to the calculation.
- Review the methodologyHave a second person trace the arithmetic and the evidence behind classifications. Resolve inconsistencies or label judgment calls clearly.
- Submit and retain the recordFollow CoinMarketCap’s current instructions, provide a focused cover note and keep a copy of the file and any follow-up correspondence.
Frequently asked questions
What is the difference between circulating supply and total supply on CoinMarketCap?
Total supply describes tokens that have been issued under the project’s accounting, while circulating supply is the figure presented as available in the market under the provider’s treatment. Issued tokens may be subject to vesting, locks or other restrictions, so the two figures can differ. Document the distinction wallet by wallet rather than treating one as a direct substitute for the other.
Which documents should I send to support a circulating-supply update?
Prepare the token contract and network, a dated balance snapshot, a wallet register, the calculation workbook, and records for vesting, locks, treasury allocations and distributions. Include a short methodology note that explains what is included or excluded and why. An indexed folder with source links lets a reviewer connect the figure to its evidence without guessing which document supports each balance.
How long does CoinMarketCap supply verification take?
The preparation period depends on how quickly your team can reconcile wallet balances and gather supporting agreements. CoinMarketCap’s review schedule is set by the platform, so do not plan a public announcement around an assumed completion date. Agree an internal target after the records are assembled, and keep communications accurate if a platform review is still in progress.
Can CoinMarketCap change the circulating-supply figure to the number we submit?
Not necessarily. CoinMarketCap assesses submitted information and controls how its page is maintained, so it may interpret evidence differently or request clarification. The project’s strongest response is a reproducible calculation with dated sources, explicit treatment of restricted balances and supporting documents. Keep your requested figure clearly identified as the project’s proposed calculation.
Should locked team or treasury tokens be excluded from circulating supply?
Do not apply a blanket rule based only on the wallet label. Review the actual control, transfer restrictions and release terms, then explain how each balance is treated in the project’s calculation. Include the relevant agreement or schedule and distinguish a contractual restriction from a project’s intention not to move tokens. This makes the reasoning reviewable instead of relying on a label alone.
How much does hands-on circulating-supply verification cost?
The starting price is from $1,450 / project. The useful first step is to share the contract, current public figure, calculation workbook and allocation records so the review scope can be confirmed. That initial check identifies whether the work is primarily arithmetic reconciliation, document collection or alignment between the calculation and public disclosures.
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