The number of coins that have already been produced or mined is reflected in the total supply measure. Not all of the coins included in this metric are usable, and burned coins are not included. It is equal to the total amount of already-mined (or issued) coins subtracted by the number of coins that were burned or otherwise disposed of.
As opposed to the circulating supply, which accounts for all tokens or coins that have been produced and are usable. Coins that can be created but haven’t yet done so are not included.
The market capitalization of a cryptocurrency is calculated using the circulating supply rather than the total supply. The former is typically more accurate since usable coins and tokens, as opposed to those that are inaccessible, typically have a greater impact on cryptocurrency pricing.
