Supply Ledger · Updated
Every grain counts.
Track the supply, not the hype.
On March 17, 2026, the SEC and CFTC jointly named 16 crypto assets as digital commodities, not securities. This page follows each one through two simple questions: where does new supply come from, and where is supply getting locked up or absorbed?
Five Thousand Years of Trust — One Circle!
From clay tablets in ancient Mesopotamia to money that moves in seconds, a 3D-animated journey through how people learned to trust each other with value, and why the banks in the middle may be headed for the extinction list.
The film will premiere right here on DigiCommodities.org.
How to read a supply ledger
Price is set at the margin by buyers and sellers. Supply mechanics tell you how much new selling pressure every buyer must absorb first.
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1
Supply in
Where new tokens come from: mining, staking rewards, escrow or treasury releases, unlocks. Even a fixed-supply asset can see circulating supply grow when insiders release tokens.
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2
Supply absorbed
Where tokens go quiet: ETFs, corporate treasuries, staking, burns, reserves, and coins leaving exchanges for long-term storage.
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3
Signals to watch
The handful of numbers that would show the balance is shifting. A "supply squeeze" only happens when absorption keeps outrunning new supply.
Market cap: the right formula for the wrong shape
The equation (x − h)² + (y − k)² = r² describes a circle perfectly, but you can't use it to describe a square. Market cap works the same way: it's built for company stock, and digital commodities are a different shape. We show it with a warning label because you'll see it everywhere else.
It borrows a stock idea
Market cap is price times circulating supply. For a company, that loosely reflects future profits. A commodity has no profits, so the number describes the last trade, not the value of the network.
It isn't money invested
When few coins trade, a small amount of buying moves the price, and every coin gets revalued at once. A billion dollars of buying can add several billion to market cap, and the same is true on the way down.
Its inputs are disputed
Data providers count circulating supply differently, sometimes by billions of tokens, so the same price can produce very different market caps.
The 16 at a glance
Click a column to sort. Prices and market caps from Perplexity Finance, .
* Market cap is shown for reference only, because you'll see it everywhere else. Read why it's the wrong shape for a commodity before relying on it.
Token ledger
Each card follows the same three questions so you can compare like with like.
Live · XRP Ledger governance
XRP Ledger amendment tracker
Validators don't approve a software release. They vote on the amendments inside it. An amendment goes live only after it holds more than 80% of trusted validators (28 of 35) for 14 days in a row. One dip below 80% restarts the clock.
| Amendment | Software | What it does | Validator votes | Status |
|---|---|---|---|---|
| Loading live votes… | ||||
Live votes from the XRPScan amendments API, read straight from the ledger. Rules: XRPL.org.
Live · on-chain activity
Daily network activity: BTC, ETH and XRP
Rolling 24-hour totals from each blockchain. Transaction counts measure use, not demand for the token. A single large transfer is often an exchange moving its own coins between wallets.
24-hour stats from the Blockchair API.
XRP large-payment tape
XRP payments over your chosen size, read live from the XRP Ledger. It counts only XRP actually delivered, which filters out fake “billion-dollar” payments made with IOUs or partial-payment tricks.
| Time | XRP delivered | From | To | Ledger |
|---|---|---|---|---|
| Connecting to the XRP Ledger… | ||||
Data from public XRP Ledger servers (xrplcluster.com). The tape starts with the last few minutes of ledgers, then updates about every 4 seconds while this page is open. Click any address to see it on XRPScan, which labels known exchanges and Ripple wallets.
Glossary for newcomers
- Circulating supply
- Tokens that can be traded today. This differs from total supply, which also counts locked or reserved tokens.
- Escrow
- Tokens locked by code until a set date. XRP's escrow releases 1 billion a month, and Ripple usually re-locks most of it.
- Staking
- Locking tokens to help secure a network in exchange for rewards. Staked tokens aren't for sale while staked, but most can be unstaked.
- Burn
- Sending tokens to an address no one controls, which removes them from supply permanently.
- Unlock
- A scheduled release of tokens held by early investors, teams, or foundations.
- Spot ETF
- A fund on a stock exchange that holds the actual token. It's a way for traditional investors to get exposure without a crypto wallet.
- Exchange reserves
- Tokens sitting on trading platforms. Falling reserves often mean coins are moving into long-term storage, though some of that may just be custody transfers.
- Amendment
- A rule change to the XRP Ledger. It ships in new software switched off, and only turns on after validators support it for two weeks.
- Validator
- A server that votes on which transactions and rule changes the network accepts. The XRP Ledger counts the votes of about 35 trusted validators.
- Wrapped token
- A token on one blockchain backed 1:1 by a token held elsewhere, like wXRP on Solana. You take on the custodian's and the bridge's risk.
Important
DigiCommodities.org is for education only. Nothing here is financial, investment, tax or legal advice. Crypto assets are volatile and can lose most or all of their value. Figures come from the third-party sources linked on each card and can be wrong or out of date. Always check primary sources and consider a licensed advisor before investing.
Prices: Perplexity Finance, . Supply data: linked per item. Ledger refreshed weekly.