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DEX · SELF-REPORTED SUPPLY

Self-Reported Circulating Supply: How to Read the Number Before a Swap

Circulating supply on DEX pages is often self-reported. It drives the market cap figure, so its source matters more than its precision.

By ChartsPod Editorial Team · Reviewed by ChartsPod Research
Published · Updated · 5 min read

Short answer

DEX Screener uses self-reported circulating supply (via enhanced token info or CoinGecko) when available; otherwise market cap equals FDV. CoinGecko's onchain API returns market_cap_usd as null for unverified tokens. Before a swap, find where the circulating figure comes from, compare it with total supply and on-chain holdings of team or treasury wallets, and look for unlock schedules. A low self-reported circulating supply makes market cap look small while large amounts remain to be released.

What the number means

ReadingInterpretation
Market cap = FDVNo circulating figure supplied
Market cap ≪ FDVLarge non-circulating supply
Null market cap (CoinGecko)Unverified token
Self-reportedClaimed, not proven
Illustrative supply breakdown (%)Illustrative supply breakdown (%): Reported circulating 18 %; Team/treasury wallets 47 %; Locked/vesting 35 %.ILLUSTRATIVE SUPPLY BREAKDOWN (%)Reported circulating18 %Team/treasury wallets47 %Locked/vesting35 %
Check wallets against the claim. Original ChartsPod editorial graphic.

Check Self-Reported Circulating Supply against a live market before relying on it.

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Checks before the swap

Self-Reported Supply checksSelf-Reported Supply checks: Source of circulating figure; Total supply; Large holder wallets; Unlock schedule; Verification status.SELF-REPORTED SUPPLY CHECKSSource of circulating figureTotal supplyLarge holder walletsUnlock scheduleVerification status
Each takes under a minute. Original ChartsPod editorial graphic.

Example

Illustrative: reported circulating supply is 18% of total, giving a $9M market cap; FDV is $50M. Upcoming unlocks could add supply equal to several times what currently trades.

Related: DEX Token Market-Cap Data: Null vs Zero - Handle Missing Fields Correctly, Token Market Cap: How to Read the Number Before a Swap.

DEX Screener uses self-reported circulating supply (via enhanced token info or CoinGecko) when available; otherwise market cap equals FDV.

Compare Self-Reported Circulating Supply across Binance, Bybit, OKX and Hyperliquid markets.

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Questions readers ask

Where does DEX circulating supply come from?

Often self-reported or from CoinGecko.

Why is market cap null on CoinGecko?

It's null for unverified tokens.

What should I compare it with?

Total supply, large wallets and unlocks.

Sources and methodology

DEX Screener behaviour comes from its official documentation; pool and token concepts from CoinGecko, Uniswap, Raydium and Solana documentation, as read on 17 October 2026. Examples use illustrative numbers and do not refer to any real token. Nothing here is a recommendation to trade any token.

  1. DEX Screener: Token listing — listing after first liquidity and trade; supply inputs.
  2. CoinGecko onchain API: Top pools by token address (pool schema) — pool fields and nullability (fdv_usd, market_cap_usd, reserve_in_usd).

This article explains research tools and workflows. It is not financial advice, does not recommend buying or selling any asset and does not predict prices. Crypto derivatives carry a risk of rapid and total loss of margin.

CHARTSPOD EDITORIAL EDITION · RESEARCH AND EDUCATION ONLY · NOT FINANCIAL ADVICE.