The float register

This page separates three things: what is circulating now, what has already been issued but is outside circulation, and what a hard cap allows but has not been issued yet. It then compares the two gaps with the reported 2% trading depth returned in this read.

Market value leaves part of the supply story outside the number.

Market value uses circulating supply. Across these 31 coins, units that already exist outside circulation are worth $172.3B at today's prices. A separate $148.3B is allowed by published hard caps but has not been issued. Hyperliquid has 76.7% of its current total outside circulation.

Read 09 September 2026

Circulating, existing outside, and not issued.

Each bar keeps the three readings apart. Solid teal is circulating. Solid orange already exists outside circulation. The outlined end is allowed by a published cap but has not been issued.

That distinction matters. Units that do not yet exist cannot be described as held, locked or ready to sell.

Circulating now

Already exists outside circulation

Not issued yet

Counted in their prices$2.33TAcross 31 coins, stablecoins set aside.

Already exists outside circulation$172.3Bat today's prices. The typical coin has 7.5% outside.

Not issued yet$148.3Bat today's prices, where a hard cap is published.

Existing outside, against depth34 to 1$5.0B is the reported 2% depth returned in this read.

Every coin, with the three supply readings kept apart.

The last column prices only the units that already exist outside circulation and divides that by the reported 2% depth returned in this read. It is a comparison of scale, not a claim that those units can be sold.

Each coin with circulating supply, current total supply, the value already outside circulation, the value not yet issued, reported 2% depth and their comparison.
Coin	Circulating	Current total	Already exists outside	Not issued yet	Reported 2% depth	Existing outside, against depth
Bitcoin BTC	20m	20m	$4m0.0% of current total	$72.0B	$1.6B	0 to 1
Ethereum ETHno published ceiling	122m	122m	$00.0% of current total	Not available	$920m	Not available
BNB BNB	133m	133m	$00.0% of current total	$49.6B	$269m	Not available
XRP XRPa quarter of current supply is outside	62.7bn	100.0bn	$52.9B37.2% of current total	$20m	$305m	173 to 1
Solana SOLno published ceiling	586m	634m	$4.9B7.5% of current total	Not available	$493m	10 to 1
TRON TRXno published ceiling	94.9bn	94.9bn	$47k0.0% of current total	Not available	$208m	0 to 1
Zcash ZEC	17m	17m	$2m0.0% of current total	$5.1B	$77m	0 to 1
Hyperliquid HYPEmost current supply is outside circulation	222m	955m	$63.1B76.7% of current total	$3.8B	$41m	1,532 to 1
Dogecoin DOGEno published ceiling	155.8bn	155.8bn	$152k0.0% of current total	Not available	$163m	0 to 1
Rain RAINa quarter of current supply is outside	709.2bn	1,142.4bn	$7.0B37.9% of current total	$122m	$267k	26,116 to 1
Monero XMRno published ceiling	19m	19m	$13k0.0% of current total	Not available	$23m	0 to 1
WhiteBIT Coin WBTmost current supply is outside circulation	118m	294m	$14.2B59.8% of current total	$8.6B	$18m	801 to 1
Chainlink LINKa quarter of current supply is outside	748m	1.0bn	$3.0B25.2% of current total	$0	$105m	29 to 1
LEO Token LEOno published ceiling	920m	985m	$600m6.6% of current total	Not available	$168k	3,576 to 1
Cardano ADA	37.5bn	45.0bn	$1.6B16.6% of current total	$0	$139m	12 to 1
Stellar XLMa quarter of current supply is outsideno published ceiling	34.8bn	50.0bn	$2.8B30.4% of current total	Not available	$63m	45 to 1
Bitcoin Cash BCH	20m	20m	$11k0.0% of current total	$236m	$63m	0 to 1
Litecoin LTC	78m	78m	$143k0.0% of current total	$346m	$94m	0 to 1
Canton CCno published ceiling	39.6bn	39.6bn	$154k0.0% of current total	Not available	$6m	0 to 1
Uniswap UNIa quarter of current supply is outside	623m	890m	$1.8B30.0% of current total	$724m	$54m	33 to 1
Gram (prev. Toncoin) GRAMa quarter of current supply is outsideno published ceiling	2.8bn	5.2bn	$3.4B46.9% of current total	Not available	$11m	298 to 1
Avalanche AVAX	432m	463m	$251m6.8% of current total	$2.0B	$65m	4 to 1
Hedera HBAR	43.8bn	50.0bn	$482m12.3% of current total	$0	$51m	9 to 1
NEAR Protocol NEARno published ceiling	1.3bn	1.3bn	$00.0% of current total	Not available	$59m	Not available
Sui SUImost current supply is outside circulation	4.1bn	10.0bn	$4.7B59.0% of current total	$0	$66m	71 to 1
Shiba Inu SHIBno published ceiling	589,239.3bn	589,496.2bn	$1m0.0% of current total	Not available	$28m	0 to 1
Cronos CROmost current supply is outside circulation	48.5bn	98.9bn	$3.0B50.9% of current total	$65m	$6m	529 to 1
MemeCore Mmost current supply is outside circulation	2.3bn	5.4bn	$3.8B58.0% of current total	$5.5B	$3m	1,489 to 1
Bittensor TAOmost current supply is outside circulation	10m	21m	$3.0B54.3% of current total	$0	$34m	88 to 1
OKB OKB	21m	21m	$00.0% of current total	$0	$12m	Not available
Mantle MNTa quarter of current supply is outside	3.3bn	6.2bn	$1.8B46.9% of current total	$0	$8m	222 to 1

Charlie's analysisThree numbers answer three different questions. Circulating supply is the amount used for market value. Current total supply is what has been issued. A hard cap, when one is published, is only the maximum allowed. The typical coin here has 7.5% of current supply outside circulation, and 13 of 31 have a quarter or more there. Two coins with identical prices and identical market values can sit either side of that, and nothing on a price screen distinguishes them.

Why the comparison needs trading depth.

The supply gaps matter more when the market is thin. The depth shown here is only the reported 2% depth returned in this read, not every order everywhere.

Charlie's analysisThe reading only becomes useful when it is set against liquidity, which is why this page joins the two. Units already outside circulation are worth $172.3B; the reported 2% depth returned in this read comes to $5.0B. That is 34 to 1. For Rain, that ratio is 26,116 to 1. Neither number is a forecast. Together they compare the scale of non-circulating supply with the reported liquidity close to today's price, which market value alone cannot show.

Whether one issuer is carrying this.

Hyperliquid has the largest existing amount outside circulation, at $63.1B.

Charlie's analysisThis is not one issuer. 13 of 31 coins have a quarter or more of current supply outside circulation. Hyperliquid has the largest single amount at $63.1B; removing it still leaves $109.2B across the rest. 11 of the 31 publish no hard cap, so their unissued allowance is unknown rather than zero.

What argues against reading this as an overhang.

Charlie's analysisThe strongest argument against reading this as a warning is that current supply outside circulation covers unrelated things: vesting, staking, treasury holdings and burns. The public totals cannot tell them apart. The unissued allowance is even less immediate: it may be issued later or never issued. A large gap is a question for the issuer, not proof of an overhang.

Questions this page can answer.

Every answer below is drawn from the readings on this page and nothing else. The last one is refused.

How many are counted?Is the number wrong?Who has most outside? Against the book Is it about to arrive?One issuer or all? What was left out Should I avoid them?

How many of a coin's units are counted in its price?

Across these 31 coins, units that already exist outside circulation are worth $172.3B at today's prices. A further $148.3B is allowed by published hard caps but has not been issued. The typical coin has 7.5% of its current total outside circulation, and 13 have a quarter or more there.

Hyperliquid76.7%

WhiteBIT Coin59.8%

Sui59.0%

MemeCore58.0%

Bittensor54.3%

Cronos50.9%

Gram (prev. Toncoin)46.9%

Mantle46.9%

Rain37.9%

XRP37.2%

Stellar30.4%

Uniswap30.0%

The share of today's total supply that already exists but is not circulating.

Is circulating supply a wrong number?

No. It is the reported amount treated as circulating, and market value is calculated from it. It is not the same as current total supply, and providers may use different rules when deciding what circulates. Two coins with identical prices and identical market values can have completely different amounts sitting outside that number, and nothing on the price screen tells you which is which.

No chart. This is a distinction between two figures already shown, not a further measurement.

Which coins have the most already outside circulation?

Hyperliquid counts 222m units in its price out of a current total of 955m, leaving 76.7% already outside circulation, worth $63.1B at today's price. WhiteBIT Coin has 59.8% outside, Sui has 59.0% outside, MemeCore has 58.0% outside. The picture above is the whole board drawn the same way.

Hyperliquid$63.1B

XRP$52.9B

WhiteBIT Coin$14.2B

Rain$7.0B

Solana$4.9B

Sui$4.7B

MemeCore$3.8B

Gram (prev. Toncoin)$3.4B

Chainlink$3.0B

Cronos$3.0B

Bittensor$3.0B

Stellar$2.8B

Only units already included in current total supply. Not the amount still unissued.

Against what is standing there, how large is that?

Units already outside circulation are worth $172.3B against $5.0B of reported 2% depth returned in this read, which is 34 to 1. For Rain alone the ratio is 26,116 to 1. This compares scale; it does not say those units can or will be sold.

Rain26,116 to 1

LEO Token3,576 to 1

Hyperliquid1,532 to 1

MemeCore1,489 to 1

WhiteBIT Coin801 to 1

Cronos529 to 1

Gram (prev. Toncoin)298 to 1

Mantle222 to 1

XRP173 to 1

Bittensor88 to 1

Sui71 to 1

Stellar45 to 1

Units already outside circulation at today's price, divided by the reported 2% depth returned in this read.

Does that mean these tokens are about to hit the market?

No. Existing supply outside circulation covers several different things that can look identical here: units locked for years under a vesting schedule, units staked and earning, units reserved for a treasury that may never sell, and units burned. Units not yet issued are shown separately. Some existing units may enter circulation on a published schedule and some may never become circulating. Nothing here distinguishes them, and any page claiming to forecast an unlock from these numbers alone is guessing.

Refused as a forecast. What is measured is what sits outside the headline number today.

Is one coin carrying this?

Hyperliquid has the largest existing amount outside circulation at $63.1B. Take it out and the remaining 30 still have $109.2B outside a counted $2.31T. The pattern is the market's, not one issuer's.

Already outside circulation$172.3B

Without Hyperliquid$109.2B

Reported 2% depth$5.0B

What has been left out?

1 coins could not be read (Ripple USD — supply figures contradict each other). Coins pegged to a dollar are set aside because their supply expands and contracts by design, so this comparison means something different for them. 11 of the 31 coins publish no hard ceiling at all, so their unissued allowance is reported as unavailable, never zero. Where a source's own supply numbers contradict each other, the coin is dropped rather than guessed at.

No chart. An account of what was excluded, not a measurement.

So should I avoid the coins with the most outside circulation?

Not answered here. A large share outside circulation is a fact about token structure, not a verdict on it: a long vesting schedule can mean a team committed for years, and a small one can mean everything was released to insiders on day one. What this page gives you is the size of what sits outside the number you are quoted, so you can ask the issuer what it is, whether it can move and when. It does not answer that question for you.

Refused. The data cannot support the question.

What would make this reading wrong.

Charlie's analysisThis reading depends on published supply fields and on how the data provider classifies circulation. It would be wrong to treat today's price times non-circulating units as cash that could be realised. It would also be wrong to treat the reported 2% depth returned here as every order in every market. This is one reading, taken 09 September 2026.