Circulating Supply

Total BTC ever mined

Property	Value
Category	Supply Analysis
Unit	BTC
Resolution	1d
Assets	BTC
Tier	Basic
API Endpoint	GET /v1/holder/supply
Field	circulating_supply

Overview

Circulating Supply is the total number of Bitcoin that have ever been mined. New coins enter circulation with each block as miners receive the block subsidy reward.

Formula

$\text{Circulating Supply} = \sum \text{all mined BTC}$

Interpretation

• Grows with every new block (~every 10 minutes).
• Growth rate halves every ~210,000 blocks (roughly every 4 years) due to Bitcoin halvings.
• Hard-capped at 21 million BTC.

Use Cases

• Per-coin metrics: Denominator for Realized Price (Realized Cap ÷ Circulating Supply).
• Inflation tracking: Monitor the rate of new supply issuance.
• Scarcity analysis: Compare current supply to the 21M cap.

API Usage

curl -H "Authorization: Bearer YOUR_API_KEY" \
  "https://api.blocklens.co/v1/holder/supply?start_date=2024-01-01&end_date=2024-12-31&limit=365"

Related Metrics

• LTH Supply — Long-term holder supply
• STH Supply — Short-term holder supply
• Realized Price — Realized Cap / Circulating Supply