Learn to obtain Circulation Supply, Market Cap, and Rank for your Token on CoinMarketCap.
As a result of our earlier tutorial to update Circulation Supply on Coingecko, some altcoins have already experienced an upgrade in rank and visibility on CG. Today, you’ll learn to get a Circulating Supply for your token on CMC. Your coin gets a dynamic Market Capitalization, improves its Rank on CoinMarketCap, and gets other perks. Let’s get started.
What’s Circulating Supply?
According to the CMC’s FAQ, the Circulating Supply is the most suitable estimation of the circulating assets in the market (owned by the public at large). Further, CMC believes that Circulating Supply is a much better metric than Total Token Supply to use to calculate the market cap for an asset. Such use of the Circulating Supply is similar to the use of the public float to calculate the market cap for traditional exchange-listed companies.
Advantages
An updated Circulating Supply (CS) provides the coin with many competitive advantages. Some of the basic advantages are dynamic market capitalization, ranking, and additional demand by investors/traders.
Circulating Supply Example
An example of a coin with its CS, market cap, and rank on CoinMarketCap.
Market cap
So, the first unbeatable advantage of having CS (Circulating Supply) is the visibility of the Market Capitalization of the coin on CoinMarketCap. With the guidance by CMC, the Market Cap is tokens (in circulation) multiplied by the price of the token. Moreover, the market capitalization (along with CS) is updating in real-time because CMC’s tracker uses a supply module that checks all wallet balances and makes use of relevant block explorer APIs.
Prioritize
Another great benefit of being on CoinmarketCap is the Rank. What is it? Rank is the place an altcoin holds in the CMC crypto-asset listing. For example, the Rank for Bitcoin is #1. Therefore, the stronger the rank, the more visible the coin. Also, CMC ranks the coins by market cap. Thus, having big circulating supply and token price is to be expected. Moreover, the more markets and exchanges the coin can be traded on, the stronger the rank for the coin.
Ranking on CoinMarketCap
Get an improved CMC Ranking. As you can see,without verified CS you cant ret high rank on CoinMrketCap
How to update Circulating Supply on CMC
Once you’ve confirmed the requirements and have the token reflected on CMC, you can update its Circulating Supply on CoinMarketCap. There are two big parts to the process: filling out the form/request and filling in the spreadsheet.
Step 1. Fill in and submit the form
After adding the token to CoinMarketCap, only open the Request Form and select “Update supply figures.” Do not forget to go through the requirements. You lose time if the parameters for your token do not fulfill the criteria.
Submitting the Supply Update to CMC
Token Supply request form on CMC.
Then, include the official email address for your project. It should be the same domain for the website for your project. Include the subject in the format «[Full project’s name] – [Token Symbol] – [Update supply].» Don’t forget to check all boxes.
Next, open the spreadsheet template, and copy it. Likewise, name it “[Token name] – CMC Form Public.”
Then, click on a «Share» button to share your spreadsheet publicly.
Next, copy the public URL for your spreadsheet and fill it into the form.
Now, open the official Twitter handle for your project and post with the following message: “Great news, we have just submitted a token supply data to the @CoinMarketCap!” Then, copy the URL to the Tweet and add it in the form like, “This is the URL to the Twitter post confirming this request is legitimate: [LINK TO THE TWEETER POST].”
Then click the Submit button.
Step 2. Complete the spreadsheet
Complete the process by filling the spreadsheet with appropriate information regarding a token supply. A sample you can use is in the “A-Sample” list.
If you lack the experience or the time, seek assistance from our team at our CMC verification service
Requirements
Despite the information in your spreadsheet, the following is what CMC’s team needs to update the CS:
- Exchange Listings:
The token needs to be listed on three exchanges (from the CEX or/and DEX lists). In the event that you don’t have enough exchanges (where your coin can be traded). - Reasonable Liquidity:
For instance, the market for the token (on CEX) would have at least $500-$1500 in BIDs and $500-$1500 in ASKs in the 2% spread. A decentralized exchange market (like PancakeSwap or Uniswap) would have around $300k-$400k in the liquidity pool. Learn more about liquidity. - Market Depth:
There needs to be reasonable depth in the market(s). For example, the market needs to be 30 BIDs deep and 30 ASKs deep on an exchange. - Completed Trades:
An adequate level of completed trades. For example, 1-2 transactions/trades per 15-30 minutes should be fine. Volume should be around $100k/daily per market. - Minimal Spread on Markets/Exchanges:
Spread is the highest BID (buy order) minus the lowest ASK (offer to sell) on the CEX’s market. Ideal spread should be 0.25%-0.5% but at most 2%. Don’t worry about the spreads on the DEX since it comes with an AMM (Automated market making). - Price Consistency:
Minimal outliers on market pairs. It means that the price of a token should be the same on all your markets/exchanges. - Confidence Scores:
Your every market will have a confidence score for all the criteria mentioned above. For example, the greater the liquidity and volume in a market, the greater the confidence score. - Processing Time:
How long does it take? While CMC shows 72 hours, the update for CS can be delayed by one week. Why? Because the staff at CMC will normally need to clarify certain information in the given spreadsheet. Thus, you’ll need to use the official (working) email address to complete the circulation supply form. You should also monitor incoming mail to avoid missed mail from CoinMarketCap.
Recommendations
There are certain recommendations for updating and filling circulating supply (CS) on CoinMarketCap.
- Be Always Honest:
Communicate with their managers via your official email. - Update CS Early:
Try to update CS at the earliest possible after listing on CMC. - Provide Real Data:
First, provide accurate information. For example, if you locked a substantial part of your tokens, tag all such locked wallets with “locked.” Then, when unlocking, the CMC identifies unlocking actions automatically and corrects a token’s circulating supply. Additionally, if a project attempts to fake or artificially inflate its supply numbers, the CoinMarketCap manager permanently excludes a currency from the rankings. - Remain in Contact with CMC:
It’s to be expected when CMC allows for CS, but the circulating sum is not the same as the information in your spreadsheet. Why? It’s because the manager at CoinMarketCap makes an estimation on what’s available freely in the market based on the information that you’ve provided in the spreadsheet. Don’t worry about this. Email CMC and ask them to clarify so that you know what wallets they’ve labeled as «out of circulation.» Transfer tokens from such wallets to any new wallets.
Enable CS when listing on CMC
Every new token added to the CoinMarketCap first appears in the “recently listed” category. Therefore, to stand out from the crowd among the coins in this category, update the Circulating at the earliest. Therefore, the users to the CMC will see favorable numbers. Therefore, more people will visit your website and buy your cryptocurrency.
