What does 'Unverified Supply' mean?

If you see a warning sign under supply information on our pages that says “unverified supply”, you might wonder what that indicates.

Unverified supply label on CoinrankingUnverified supply means that the coin or token supply has not been verified by our team. 
Thus, there is a chance that the supply stated on the page may be incorrect. 

Verification Requirements

  • A smart contract address is provided.
  • Deliver supply modifier addresses if needed.
  • Having enough token holders.
  • If there’s an API to fetch the supplies, you can provide the link.

So, Why Is It Important For Cryptocurrencies To Have Verified Supply? 

Before we understand why we need accurate information on the supply, let’s first understand some terms that may be used: 

Circulating Supply

This refers to the number of cryptocurrency coins in circulation and available to the public and circulating in the market. 

Circulating supply can increase or decrease. It may increase because the maximum supply is not reached and coin issuance is still ongoing. The supply may decrease due to burning where the coins are permanently removed from circulation. 

Circulating supply can also be used to calculate market capitalization by multiplying the current market price with the circulation supply. For example, for a coin that has a price of $5 and total coins in circulation of 100,000, the market capitalization would be $500,000. 

Total Supply

This is the number of coins and tokens that currently exist. This is calculated by taking the total number of coins already mined and subtracting that from the total coins burned or destroyed. 

This number also includes coins that are held in a lockup or a vesting period which happens due to an Initial Coin Offering (ICO) or a private sale. 

Burned coins are excluded from total supply as they have been sent to an unknown address thus deemed unusable. 

Maximum Supply

Maximum supply includes tokens that have been issued and those that have yet to be issued. For instance, the maximum supply of Bitcoin is 21 million coins. This means that there will only ever be 21 million BTC and no more. No new coins will be produced. 

Why Should Supplies Be Verified? 

Supply information of the tokens determines the market capitalization which is essential in determining if the token is overvalued or undervalued. 

Market cap can also be used to predict price volatility and allows traders to make better decisions with trading.

The formula for calculating market cap is as follows: 

Cryptocurrency price x circulating supply = market cap

Since traders want the most accurate information to make trading decisions, it’s important that the circulating supply is accurately accounted for. 

How To Verify My Coin?

If you have an already listed coin on Coinranking and want to have it verified, you may either:

  • Contact us for an update. 
  • Fill out this form to update your information and we will get back to you as soon as possible. 

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