There are currently 120.50M Ethereum (ETH) coins in circulation. Unlike Bitcoin, ETH has no maximum supply cap and uses a dynamic issuance model with staking rewards and burning mechanisms.
120.50M
Total ETH Supply
$407.66B
Market Cap
24%
Staked ETH
Ethereum's current total supply stands at 120.50 million ETH as of March 2024. Unlike Bitcoin's fixed supply model, Ethereum features a dynamic supply mechanism that adapts based on network activity and staking participation. Let's analyze these numbers and understand what they mean for investors and the Ethereum ecosystem.
Real-time Market Data
Distribution Visualization
Important Notice:
Cryptocurrency investment carries significant risks:
- High price volatility and potential for significant losses
- Smart contract and technical risks
- Regulatory changes can impact value
- Past performance does not guarantee future results
Always conduct thorough research and never invest more than you can afford to lose.
Understanding Ethereum's Supply Distribution
Staked ETH (24%)
~29M ETH locked in staking contracts
DeFi Protocols (7.5%)
~9M ETH in DeFi applications
Exchange Reserves (11.6%)
~14M ETH on centralized exchanges
Active Circulation (56.9%)
~68.5M ETH in active wallets
Supply Dynamics
- Daily Issuance: ~1,700 ETH created through staking rewards
- Burn Rate: Variable based on network activity (EIP-1559)
- Net Supply Change: Currently near zero or slightly deflationary
- Total Burned: ~3.8M ETH since EIP-1559 implementation
Historical Timeline
2014 - Initial Coin Offering
Ethereum raised over 31,500 BTC ($18.3 million) through its ICO, with ETH priced at $0.311
2015 - Genesis Launch
Initial supply of 72M ETH created, with 60M distributed to ICO participants
2015-2022 - PoW Era
Mining rewards created ~13,000 ETH per day
August 2021 - EIP-1559
Introduction of base fee burning mechanism
September 2022 - The Merge
Transition to Proof of Stake, reducing issuance by ~87%
2024 - Present
Dynamic supply with staking rewards and EIP-1559 burning
Supply Growth Over Time
72M
2015
Genesis
100M
2019
PoW Era
115M
2021
Pre-Merge
120.5M
2024
Current
Supply Comparison with Major Cryptocurrencies
| Cryptocurrency | Current Supply | Maximum Supply | Supply Model |
|---|---|---|---|
| Ethereum (ETH) | 120.50M | Unlimited | Dynamic/Deflationary |
| Bitcoin (BTC) | 19.6M | 21M | Fixed/Deflationary |
| BNB | 152M | 200M | Deflationary |
| Solana (SOL) | 410M | Unlimited | Inflationary |
Frequently Asked Questions
Why doesn't Ethereum have a maximum supply cap?
Ethereum's design prioritizes network security and sustainability over a fixed supply. The dynamic issuance model allows for adequate rewards for validators while maintaining network security.
How is new ETH created?
New ETH is created through staking rewards at a rate of approximately 1,700 ETH per day. This is significantly lower than the previous mining rewards of 13,000 ETH per day before The Merge.
What affects Ethereum's supply?
Ethereum's supply is affected by staking rewards (creation), EIP-1559 burning mechanism, network activity, and validator participation rates.
Conclusion
Ethereum's supply mechanism represents a unique approach in the cryptocurrency space, balancing network security with potential deflationary characteristics. Key takeaways:
- Current supply of 120.50M ETH with no maximum cap
- 24% of supply locked in staking, reducing circulating supply
- EIP-1559 burning mechanism provides deflationary pressure
- Supply dynamics closely tied to network usage and staking participation
Data powered by: CoinGecko API, TradingView Widgets, and CoinGecko Price Ticker for real-time market data.
