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Solana Circulating Supply: How Many SOL Tokens Are There?

Explore Solana’s circulating supply: how many SOL are in circulation, how emissions and burning affect supply, and what it means for the network’s long-term value.

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Updated June 30, 2025 4 min read

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Gemini-Solana (SOL)- Scaling Crypto to the Masses

Summary

Understanding how many tokens exist — and how many are in circulation — can help you better evaluate Solana as an digital asset or platform. You're not alone if you've ever wondered how coins like SOL are distributed or what “circulating supply” means. In this guide, we’ll break down what circulating supply is, why it matters, how Solana’s tokenomics work, and what it means for you as a crypto user or investor.





What Is Solana?

is recognized for being fast, affordable, and scalable. Started in 2020, it includes a Proof of History (PoH) system paired with Proof of Stake (PoS) to support thousands of transactions every second and show minimal latency.


Every transaction and activity on Solana is powered by its native token, SOL. Holders help secure the network and earn rewards while influencing the network’s overall security and performance. Smart contracts and dApps are deployed on the Solana network with SOL, and users spend SOL to use those apps. 


To participate in the network, validators stake their SOL to help secure the network. SOL holders help secure the network through staking and can influence protocol development through community involvement and validator delegation.


SOL is an essential part of the network's operation. Since its demand is connected to how many people use the network, supply-related information becomes essential.

What Is Circulating Supply?

Circulating supply refers to the number of coins or tokens actively available for trading and spending in the market. It does not include tokens that are locked, reserved, burned, or otherwise not in public hands.


This metric is important because it impacts:

  • Market capitalization: Calculated by multiplying the current price by the circulating supply. A higher supply at the same price means a larger market cap.

  • Token valuation: Helps gauge how scarce or inflated a token might be, influencing investor decisions.

  • Liquidity: More tokens in circulation often mean easier trading and reduced price volatility.

It’s also useful when comparing cryptocurrencies. Two tokens may have similar prices, but vastly different supplies — and therefore, vastly different market caps and growth potential.

For Solana, understanding how many SOL tokens are circulating gives you a clearer picture of how the ecosystem is growing and how the network rewards participation through inflation.

How Does Solana’s Supply Model Work?

based on emission schedules, validator rewards, and community activity.

Initial Distribution

When Solana launched, it had an initial total supply of 500 million SOL. However, not all tokens were released at once. 


This phased distribution helped bootstrap the network while preserving incentives for long-term growth.

Inflation and Emissions

Solana uses a disinflationary model. Here's how it works:


  • It started with an annual inflation rate of around 8%.

  • That inflation rate decreases by ~15% each year until it reaches a long-term floor of 1.5%.

  • New SOL tokens are introduced primarily to reward validators and delegators who help secure the network.


This emission model balances growth and scarcity, providing incentives without overflooding the crypto market.

Transaction Fees and Burning

To counter inflation, Solana burns a portion of the transaction fees collected on the network. Currently, about 50% of all fees are burned, permanently removing SOL from circulation.


This creates a subtle deflationary pressure over time, especially as network activity increases.

Current Solana Circulating Supply

As of 2025, the circulating supply of Solana is approximately 445 million SOL. This number fluctuates slightly based on token emissions, , and burning mechanisms.


Solana’s total maximum supply is not hard-capped. Instead, it has a built-in inflationary model. Initially set at an 8% annual inflation rate, this number decreases by 15% each year until it stabilizes at 1.5% annually.


This means new SOL is regularly minted and distributed to validators and delegators as staking rewards, gradually increasing the total and circulating supply. However, the decreasing inflation rate helps moderate long-term token dilution.

How Does Solana’s Supply Change Over Time?

Solana’s supply changes due to:

  • Staking rewards: Validators and delegators earn SOL for securing the network. While staked tokens are technically part of the circulating supply, it is illiquid, which limits immediate trading availability and tightens the current market supply.

  • Burning: A portion of transaction fees paid in SOL is burned, reducing the total supply.

  • Unlocked tokens: Early investor and team allocations may unlock over time, gradually entering circulation.

These mechanisms create a dynamic supply environment where both inflationary and deflationary forces are at play. The system aims to reward participation without runaway dilution.

Solana’s Inflation Schedule

started at 8% annually and decreased by 15% each year until it hit a long-term floor of 1.5%. This tapering rewards validators without overwhelming the market with new tokens.

  • Year 1: 8.00%

  • Year 2: 6.80%

  • Year 3: 5.78%

  • Year 4: 4.91%

  • Year 5 and beyond: trending toward 1.5%

This gradual reduction helps keep the network sustainable while still incentivizing validators through rewards.

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Total vs. Circulating Supply: What’s the Difference?

The total supply includes all tokens created, minus any burned. The circulating supply includes only the tokens available to the public.

For example, if 500 million SOL have been created, but 55 million are locked or unspendable, the circulating supply would be 445 million SOL.

Knowing the difference between these figures helps users and investors understand how much supply is actually accessible versus how much exists overall.

How Does SOL Supply Compare to Other Cryptos?

Let’s take a look at how Solana stacks up against some other major tokens:

  • Bitcoin (BTC): Max supply of 21 million. Fully capped. Predictable emission schedule. Highly deflationary.

  • Ethereum (ETH): No max supply, but burning via EIP-1559 and staking mechanics have reduced ETH’s net inflation significantly.

  • Cardano (ADA): Max supply of 45 billion ADA, with staking rewards issued regularly.

  • Polkadot (DOT): No hard cap, but new tokens are used to incentivize validators and fund the treasury.

Solana sits somewhere in the middle. It doesn’t have a hard cap like bitcoin, but its emissions taper off and it burns part of the fees. This approach balances long-term sustainability with network growth and participation.

Does SOL Have a Max Supply?

.


Instead of a hard cap, it uses a flexible inflation model that gradually reduces over time. Combined with fee-burning, this system keeps the total supply from ballooning indefinitely.


While some investors prefer assets with a fixed cap (like bitcoin), Solana’s model is aimed at supporting an active, secure, and growing blockchain without requiring new monetary policies.

If you're investing in SOL or just following the project closely, here are some key supply-side trends worth tracking:

  • Staking Levels: Over 60% of SOL is staked, reducing liquid supply on exchanges.

  • Burn Activity: As usage grows, more SOL is burned, helping counter inflation.

  • Emission Rate: Solana’s inflation rate decreases by 15% annually until it reaches a floor of 1.5%.

  • Token Unlocks: Team and investor allocations unlock gradually — track release timelines.

  • Ecosystem Growth: More apps mean more SOL used or staked, affecting circulation.

Understanding these factors can give you a sharper edge when evaluating SOL’s market behavior.

FAQs

What is Solana’s total supply?

Solana’s total supply is over 500 million SOL, but due to staking and long-term holdings, not all of it is in active circulation.

Is SOL supply inflationary or deflationary?

It’s inflationary, but the rate decreases annually. About 50% of transaction fees are burned, creating deflationary pressure.

Does staking remove SOL from circulation?

Not technically — it remains in circulation, but becomes temporarily illiquid while staked.

Where can I verify the current SOL supply?

Check live metrics on Solana Explorer, CoinMarketCap, or Messari for real-time supply data.

Why should investors watch the circulating supply of SOL?

The number of SOL in circulation affects liquidity, price action, and token availability on exchanges. A lower liquid supply during high demand may increase volatility and pricing pressure.

The Bottom Line

Solana’s circulating supply reflects how the network grows, secures itself, and balances reward incentives with liquidity.


Understanding how SOL is issued, burned, and staked gives you better insight into how its value might evolve. With a flexible emission model and strong community participation, Solana’s approach strikes a balance between speed, scale, and sustainability.


Want to learn more or get started with SOL? Buy, trade, and explore Solana securely with today.


This content is for informational purposes only and is not intended as investment advice. Digital assets are volatile and subject to regulatory risk.


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Cryptopedia Staff

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