Cryptocurrencies

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What is the circulation amount of Syscoin (SYS) coins?

Syscoin's circulating supply, vital for liquidity assessment, currently stands at 684.5 million SYS, while its capped total supply ensures long-term stability.

Dec 19, 2024 at 01:57 am

Key Points:

Circulating Supply: 684.5 million SYS (as of January 2023, source: CoinGecko)
Total Supply: 888 million SYS (maximum supply capped)

Circulating Supply

The circulating supply of Syscoin is the number of SYS coins that are currently in circulation, excluding coins that have been lost, locked up, or otherwise taken out of circulation. As of January 2023, according to CoinGecko, the circulating supply of SYS is approximately 684.5 million coins. This value may fluctuate slightly over time as coins are minted, burned, or otherwise accounted for.

Factors Affecting Circulating Supply:

Block Reward: New SYS coins are created as a block reward for miners who successfully add blocks to the blockchain.
Coin Burn: A portion of transaction fees on the Syscoin network are burned, effectively reducing the total supply of SYS.
Lost or Stolen Coins: If private keys are lost or coins are stolen, those coins are effectively removed from circulation.
Staking: SYS holders can stake their coins to earn rewards, which increases the amount of locked-up SYS and reduces circulating supply.

Significance of Circulating Supply

The circulating supply of SYS is a crucial indicator of the availability and liquidity of the coin. It influences factors such as:

Market Cap: Calculated by multiplying the circulating supply by the current SYS price.
Coin Distribution: The distribution of SYS among different stakeholders, including miners, exchanges, and holders.
Liquidity: The ease with which SYS can be traded on exchanges and used for transactions.

FAQs:

Q: Why is the circulating supply of Syscoin different from the total supply?

A: The total supply represents the maximum number of SYS coins that can ever be created, while the circulating supply accounts for coins that are actively in circulation.

Q: How does staking affect the circulating supply of Syscoin?

A: When SYS holders stake their coins, those coins are locked up and cannot be sold or traded. This effectively reduces the amount of SYS in circulation, making it less liquid.

Q: What is the expected circulating supply of Syscoin in the future?

A: The circulating supply of SYS is expected to gradually increase as new coins are minted through block rewards. However, the maximum supply of 888 million SYS will ensure that inflation remains manageable.

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