Definition ∞ Immediate circulation refers to the portion of a cryptocurrency’s total supply that is readily available for trading, transfers, and other economic activities from the moment of its initial distribution or launch. These tokens are not subject to vesting schedules, lock-ups, or other restrictions that would prevent their immediate use or sale. This metric is important for assessing the initial liquidity and potential market pressure of a newly introduced digital asset. It represents the liquid supply accessible to the public.
Context ∞ The amount of a token in immediate circulation at launch is a critical factor closely scrutinized by investors and analysts, as reported in cryptocurrency news. A large immediate circulation can sometimes lead to significant selling pressure if early participants decide to liquidate their holdings, potentially impacting price stability. Projects often strategically manage this initial supply to balance early liquidity with long-term price stability. Transparency around immediate circulation figures is considered a sign of a project’s commitment to fair distribution.
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