How much is the circulation of Status(SNT) currency?

As of August 2023, the current circulation of Status (SNT) currency is approximately 2,140,306,897 tokens, which represents the number of SNT tokens that are currently in circulation after considering initial distribution, token burns, and other adjustments.

Dec 10, 2024 at 06:42 pm

How Much is the Circulation of Status (SNT) Currency?

Understanding Status (SNT) Circulation:

Status (SNT) is an Ethereum-based token that serves as the native currency within the Status Network, a decentralized messaging and payment platform. The circulation of SNT plays a crucial role in its utility and value within the ecosystem.

Factors Affecting SNT Circulation:

1. Initial Token Distribution:

   • The initial distribution of SNT occurred through a token sale in 2017, which raised approximately $100 million.
   • At the time of the sale, a total of 3,481,948,000 SNT tokens were created.

2. Token Allocation:

   • The SNT tokens were distributed according to the following allocation:

     • 51% allocated to the public (sold during the token sale)
     • 15% allocated to the founding team and early contributors
     • 15% allocated to the Status Network Foundation (governance and development)
     • 10% allocated to marketing and community outreach
     • 9% allocated to advisors and strategic partners

3. Token Burns:

   • Status has implemented a mechanism to burn a portion of SNT tokens to reduce the overall supply and increase the value of the remaining tokens.
   • To date, a total of approximately 300 million SNT have been burned.

Current Circulation:

The current circulation of SNT, as of August 2023, is approximately 2,140,306,897. This represents the total number of SNT tokens that are currently in circulation, taking into account the initial distribution, token burns, and any other adjustments.

Factors Affecting SNT Price:

The price of SNT is influenced by various factors, including:

• Token Supply and Demand: The circulation of SNT directly affects its supply and demand dynamics, influencing its price.
• Network Usage: Increased adoption and usage of the Status Network and its services lead to increased demand for SNT, driving its price higher.
• Market Sentiment: Overall market sentiment and macroeconomic factors can impact the price of all cryptocurrencies, including SNT.
• Regulatory Developments: Regulatory developments and government regulations related to cryptocurrencies can affect the demand and price of SNT.
• Competition: The emergence of other decentralized messaging and payment platforms creates competitive pressure and can influence the price of SNT.