Update Circulating Supply to Get Market Capitalization on CMC: CoinMarketCap

Learn how to Get Circulation Supply, Market Cap, and Rank for your Token on CoinMarketCap.

Thanks to our previous guide for updating Circulation Supply on Coingecko, many altcoins have already increased their ranking and visibility on CG. Today, you’ll learn how to get a Circulating Supply for your token on CMC. As a result, your coin gets a dynamic Market Capitalization, improves its Rank on CoinMarketCap, and obtains other advantages. So, let’s do it.

What’s Circulating Supply?

According to the CMC’s FAQ the Circulating Supply is the best assumption of the number of assets circulating in the market (existing in the general public’s hands). Also, CMC believes that Circulating Supply is a much better metric than Total Token Supply for determining an asset’s market capitalization. Such a method of using the Circulating Supply is similar to using public float to determine the market cap of traditional companies on stock exchanges.

Advantages

An updated CS (Circulating Supply) provides a coin with many competitive advantages. Some of the core benefits include dynamic market capitalization, ranking, and additional demand from investors/traders.

circulating supply example
Example of a coin with CS, market cap, and ranking on CoinMarketCap.

Market capitalization

So, the first unbeatable advantage of getting CS (Circulating Supply) is the visibility of the Market Capitalization of a coin on CoinMarketCap. Due to CMC’s guidance, the Market Cap is the number of tokens (in circulation) multiplied by the token’s price. Thus, a coin automatically obtains dynamic Market Cap stats after updating a circulation supply. Moreover, market capitalization (as well as CS) is updating in real-time because CMC’s tracker uses a supply module that references all wallet balances and uses relevant block explorer APIs. 

Rank

Another great benefit of having CS on CoinmarketCap is the Rank. What’s that? The Rank is the positioning of an altcoin in CMC’s list of crypto-assets. For example, Bitcoin has a Rank of #1. So, the higher the ranking, the better visibility of a coin. Also, CMC sorts all coins by market cap. So, having a high circulating supply and token price is reasonable. Furthermore, the bigger the number of markets and exchanges where a coin is available for trading, the better coin’s ranking.

Ranking on CoinMarketCap
Get a higher Ranking on CMC.

Additional buyers

An additional advantage of having a dynamic circulation supply, market cap, and ranking is bringing more buyers for a token. Why? The answer is obvious. First, much more potential buyers could notice a cryptocurrency that has a rank on CMC. Second, these traders and investors would have more reasons to purchase a cryptocurrency with a circulating supply’s data and market cap traction on CoinMarketCap.

How to update Circulating Supply on CMC?

After checking the requirements and having a token visible on CMC, you can update its Circulating Supply on CoinMarketCap. The process consists of two main steps: submitting the form/request and filling out the spreadsheet.

Step 1. Fill out and submit the form

Only after listing a token on CoinMarketCap, open a Request Form and select “Update supply figures.” Also, remember to check the requirements. Otherwise, you waste time if your token’s parameters don’t satisfy the criteria.

submitting supply update to CMC
Token Supply request form on CMC.

Then, enter the official email address of your project. It should have the same domain as your project’s website domain. Also, enter the subject in a format like “[Project’s full name] – [Token Symbol] – [Update supply]” Don’t forget to check all boxes.

enter official email
Filling out the form on CoinMarketCap.

After that, open a spreadsheet’s template, and make a copy. Correspondingly, name it “[Token name] – CMC Form Public.” 

make a copy of spreadsheet
Copy CMC’s spreadsheet.

Then, press a “Share” button to make your spreadsheet public.

Share CMC's spreadsheet to public
Get a CMC spreadsheet link (public).

After that, copy a public link to your spreadsheet and enter it into the form.

Now, open your project’s official Twitter account and post with the following text: “Great news, we have just submitted a token supply data to the @CoinMarketCap!” Then, copy the link to your Tweet and enter it into the form like, “This is the link to the Twitter post showing that this request is authentic: [LINK TO THE TWEETER POST].”

URL of your token on CMC
Coin’s page URL, Spreadsheet URL, and confirmation URL.

Also, enter the link to the CoinMarketCap page of your token (example: https://coinmarketcap.com/currencies/tokpie/) in the “Project(s)’ CMC URL(s)” field.

Finally, click on the Submit button.

Step 2. Fill in spreadsheet

To finalize the process, fill in the spreadsheet with relevant data about a token supply. A good example you can find is in the “A-Sample” list.
If you don’t have the time or experience, ask Tokpie’s team for help via email at info@tokpie.com.

Requirements

Despite the data in your spreadsheet, CMC’s team has the following requirements for updating the CS:

  • A token must be available for trading on three exchanges (from the CEX or/and DEX lists). So, if don’t have enough exchanges (where your coin is available for trading) apply to list token on Tokpie – a CEX exchange supported by CMC.
  • Reasonable liquidity. For instance, a token’s market (on CEX) must have at least $500-$1500 worth of BIDs and $500-$1500 worth of ASKs inside the 2% spread. A decentralized exchange market (like PancakeSwap or Uniswap) should contain around $300k-$400k in the liquidity pool. Learn more about liquidity.
  • A market(s) must have Reasonable order depth. For example, the market should have 30 BIDs and 30 ASKs on a centralized exchange.
  • A reasonable number of executed trades. For example, having 1-2 trades/transactions every 15-30 minutes will be enough. Volume should be around $100k/daily in each market.
  • Minimal spread on markets/exchanges. Spread is the difference between the highest BID (order to buy) and the lowest ASK (order to sell) inside the CEX’s market. The best spread should be around 0.25%-0.5% but at most 2%. Fortunately, you don’t have to care about the spreads on the DEX because it has an AMM (Automated market making).
  • Minimal outliers on market pairs. It means a token’s price should be the same on all your markets/exchanges.
  • Decent confidence scores. Each of your markets has a confidence score representing all the above conditions. For example, the higher a market’s liquidity and volume, the bigger its confidence score.

How long does it take?

Although CMC states 72 hours, the CS updating can take a week. Why? Because CMC’s team usually wants to clarify some data in the submitted spreadsheet. So, you must use a working (official domain) email address to submit the circulation supply form. Also, you should regularly check incoming messages to avoid missed letters from CoinMarketCap.

Recommendations

Some recommendations exist for the spreadsheet’s filling and updating circulating supply (CS) on CoinMarketCap. First, always be honest with CMC, and communicate with their managers via your official email. In addition, try to update CS as fast as possible after listing on CMC.

Provide real data

First, provide accurate data. For example, if you locked a considerable part of your tokens, mark all such locking wallets as “locked.” Later, after unlocking, the CMC automatically detects unlocking events and increases a token circulating supply accordingly. Besides, if a project attempts to manipulate or artificially inflate its supply figures, CoinMarketCap’s manager permanently disqualifies a currency from the rankings.

Be in contact with CMC

It’s a common situation when CMC enables CS, but the circulating amount differs from the data in your spreadsheet. Why does it happen? It happens because CoinMarketCap’s manager uses an approximation of what is freely circulating in the market based on the information that you have provided in the spreadsheet. Don’t worry about that. Write to CMC and ask a clarification to understand what wallets they marked as “out of circulation.” Then, transfer tokens from such wallets to any new wallets. 

Enable CS after listing on CMC

Every new token that appears on the CoinMarketCap becomes visible in the “recently listed” list first. So, to stand out from other coins in that list, update the Circulating as fast as possible. As a result, CMC’s visitors will see attractive figures. Therefore, more people will visit your website and buy your cryptocurrency. 

Other ways to boost altcoin

For any questions or cooperation, you can contact Tokpie at info@tokpie.com

Token Circulation Supply: How to Update? Why Is It Important?

Discover what’s the circulation supply of your token. What advantages can a high circulation supply bring to your project. Find a full guide on how to improve your token circulating supply.

Thanks to our instructions to add a coin to Coingecko, hundreds of projects successfully appeared on CG. But, if you’re the owner or CEO of a blockchain startup, you should take care of your token circulation supply. But what is the token circulating supply? Why is it so important? How to change the circulation supply of your cryptocurrency on Coingecko? This article explains everything. Besides, discover the guide on how to update circulating supply on CoinMarketCap.

Also, make your cryptocurrency more attractive by adding it for free on the top Token Voting platforms, Metamask, TrustWallet, MEW, Trezor, Ledger, CMC, CG, Coincodex, LiveCoinWatch, CoinCheckup, Coindataflow, DigitalCoin, Coincost, Blockspot, CoinLore, TokenInsight, Coindar, and BitDegree. Moreover, integrate Bank Cards and Apple Pay to sell more tokens and list an asset on Binance at no cost as well as on Coinbase. Besides, enable price and market cap traction on BscScan and Etherscan. And increase your coin liquidity on PancakeSwap or Uniswap at no charge. Finally, discover a step-by-step guide to making the best altcoin.

What is the circulation supply?

In simple words, a Circulating supply is the free float of your project’s cryptocurrency. Another definition is the number of your project’s tokens that people can buy and sell on exchanges’ spot markets right now.

What is the circulation supply formula?

Simultaneously, the Circulating supply formula can vary depending on the tokenomics of a project. In general, there are two types of tokenomics. The first is when a company creates a fixed amount of tokens. The second one is when a company issues coins whose total supply can vary in the future.   

Fixed total supply of tokens

90% of projects issue a strict amount of tokens without any possibility to generate new coins in the future. In that case, the Circulation supply formula is as follow:

Circulating supply = Total Supply - Team & foundres' tokens - Treasury tokens - Locked tokens

Important to note that potential token-buyers prefer to have coins whose price will not be affected by additional token supply. 

Flexible total supply of tokens

The second type is when a project creates mintable cryptocurrency. So, the total supply might be increasing or decreasing in the future due to the smart contract conditions. In this case, the Circulation supply formula is quite simple:

Circulating supply = Total Supply

Why is circulation supply so important?

It’s hard to overestimate the importance of the circulation supply. It affects the market capitalization of your project and rank on coin trackers. A high rank on trackers, in turn, automatically attracts potential buyers, users, and partners into your project. Moreover, a high circulation supply inspires current and future token-holders to keep your cryptocurrency.

It’s important to note that the circulating supply only works when trackers display it. So it doesn’t matter what you state on your project website about total and circulation supply.

How to improve market cap with circulating supply?

Obviously, to increase your cryptocurrency market capitalization, you should increase its circulating supply reported by trackers if your token price is stable then, the higher your token’s circulating supply, the bigger its market capitalization.

How to increase the rank of my cryptocurrency?

There are many ways to increase the rank of your cryptocurrency. But, the most efficient way is to increase your circulation supply. Look at the list of coins on Coingecko. As you see, the higher the market cap (token circulating supply x price), the higher the rank of a coin. Therefore, to move up your token’s position, first, you should take care of its circulating supply. 

Rank and Market cap on Coingecko
List of coins on Coingecko

Moreover, with your coin’s rank increasing, more and more people will be noticing your project. It will increase your website’s organic traffic, the number of new token buyers and users.   

Does circulation supply inspire token buyers?

In addition to the above, a high circulation supply inspires token holders and potential buyers. Why? It’s straightforward. Investors prefer to have cryptocurrency which price will not be affected by a suddenly increased supply. So, a priory, cryptocurrencies with a high percentage of circulating emissions are more attractive for buyers. 

If you have just added your token on Coingecko, then it appears in the Recently Added Coins List. Now, imagine you’re an investor and ask yourself: “what line would I click to learn more about the project – a line with a question mark or a line that states a market cap”? The answer is obvious. So, don’t lose a chance to get free traffic and buyers – update your token’s circulation supply (CS) as soon as possible. Read the next paragraph to know how to update CS for your cryptocurrency. 

recently added tokens on Coingecko
Coins added on Coingecko recently

How can I change the token circulating supply on CoinGecko?

The process of updating your token’s circulation supply has three stages and can be very time consuming, especially if you don’t know how to fill the form (step 1). So if you don’t have time or enough experience, reach our team at info@tokpie.com so that we could help. Otherwise, perform the following steps by yourself.

1st Step: Preparing Token Distribution Details

Remember that this is an essential step. So, if you don’t know how to fill it correctly, ask for help here info@tokpie.com. During this stage, you need to create the table in a required format, fill it with information and get a sharable (public) link.

Creating a table

By using your project’s official email address, create a copy of this template in google docs. 

Filling in the table with token distribution details

After creating a table from a template, fill it with the information about your token distribution. Remember that this is a crucial step. So, if you don’t know how to fill it correctly, ask for help here info@tokpie.com.

Getting a public link to the spreadsheet

After filling the table, get a public link on it in your google docs interface. You will need this link ready to complete the 4th Step later.

2nd Step: Filling the request form 

Fill the GoinGecko’s form as shown below.

Request form page 1
Coingecko Request form page 1
Request form page 2
Request form page 3
Coingecko Request form page 3

3rd Step: Sending request to the Coingecko team

Also, by using your project’s official email address, send a request message to CoinGecko. Find the message template below:

 “Hello, kindly update our circulation supply on the [your token symbol] token page: [link to your token page on Coingecko].

Here is the Google Sheet link to the supply distribution data: [public link to the table you prepared in the 1st Step above].”

4th Step: Waiting and replying to CoinGecko’s questions

After you complete steps 1-3, wait for a reply from CoinGecko. In most cases, they ask you to clarify some information about your token supply. So, to pass this stage smoothly, make sure that you fill the distribution spreadsheet correctly. Coingecko will update your token circulation supply, market capitalization, and rank within 48-72 hours if everything is fine. 

The bottom line

It’s hard to see when blockchain startups’ owners and directors ignore the circulation supply factor — such a vital aspect of the cryptocurrency business. The increase of token circulating supply opens the unlimited, straightforward, and forever free road to new token buyers and users’ flow. So, don’t wait; use this guide to stand out your cryptocurrency from the coins of lazy owners. 

Useful links to boost crypto-asset for free

For any questions or cooperation, you can contact Tokpie at https://t.me/tokpie