SUI Circulation Reaches 4.139 Billion of 10 Billion Max Supply

SUI's circulating supply stood at roughly 4.139 billion tokens in November 2026, equal to 41.3904% of the token's fixed 10 billion maximum. The precise figure listed is 4,139,043,544.13 SUI. The snapshot anchors how analysts should read Sui's market capitalization against its fully diluted valuation.

The count is a month-end measure. It records how many tokens qualified as circulating at the close of November, not how much SUI traded at any specific moment during the month. That distinction matters for liquidity analysis, because intraday tradable supply can differ from the month-end ledger figure.

Where do the remaining tokens sit?

About 5.861 billion SUI falls outside the reported circulating total. That gap does not imply every non-circulating token is locked or will hit the market simultaneously. A release schedule governs distributions across seven years, and the schedule can be adjusted.

The gap between the two supply measures drives the gap between the two valuation methods. Market capitalization multiplies a token's price by circulating supply; fully diluted valuation applies the same price to the maximum supply. The two figures share one price input but use different token counts — roughly 4.139 billion versus 10 billion in SUI's case, a ratio of about 1 to 2.4.

More than half of total SUI supply is assigned to a Community Reserve initially managed by the Sui Foundation. The reserve funds several designated functions:

• grants
• validator delegation
• research and development
• validator subsidies

The reserve functions as the protocol's long-term treasury for ecosystem growth and validator economics rather than as a single unlock event.

What is SUI's baseline?

Sui Mainnet launched on May 3, 2023, with roughly 5% of SUI circulating. The token serves four core roles on the network: fee payment, staking, on-chain liquidity and governance. Since launch, circulation has expanded from about 5% to 41.39% of maximum supply under the seven-year distribution plan.

The circulation total describes only the amount counted as circulating. It does not signal whether holders intend to sell. Token counts alone carry no information about holder behavior, lockup terms or market intent.

As the seven-year schedule continues, monthly month-end figures will track the steady expansion of circulating supply toward the 10 billion cap, with each tranche's actual market impact depending on reserve allocation decisions by the Sui Foundation rather than on the schedule alone.