How Many Ethereum Are There?

6 min read
how many ethereum are there

Ethereum is one of the most popular cryptocurrencies available in the market, second only to Bitcoin in market capitalization. But the question that many people ask is, how many Ethereum are there?

How Many Ethereum Are There?

Let’s explore the answer to that question, along with some interesting facts about Ethereum.

Ethereum Overview 

Undoubtedly, there is no need to explain what Ethereum is because almost everyone in the crypto world knows about the second most popular cryptocurrency, Ethereum. But let’s take a quick look at this digital asset.

how many ethereum are there

Ethereum is a decentralized platform for building and executing smart contracts and decentralized applications. It was launched in 2015 by Vitalik Buterin and has gained much popularity since then. The cryptocurrency used on the Ethereum platform is called Ether, which is used to pay for transaction fees and computational services.

Like Bitcoin, Ethereum uses a Proof-of-Work (PoW) consensus mechanism, so its production is done due to the mining process. You may wonder if Bitcoin and Ethereum are similar to each other. We recommend you read about the differences between Ethereum and Bitcoin to determine the better investment for you.

However, you should note that on the latest upgrade to this cryptocurrency, known as Ethereum 2.0, this process is changed to Proof-of-Stake (PoS), which allows staking instead of mining.

The process of staking Ethereum comes with rewards too. Therefore, learning about how to stake Ethereum can be beneficial for Ethereum owners. 

Another interesting fact about Ethereum is its unique feature called the Ethereum Improvement Proposal (EIP). This proposal is used to suggest changes or improvements to the Ethereum network, and the community of Ethereum users votes on it. If an EIP is approved, it can be implemented into the Ethereum network, making it one of the most democratic blockchain networks in the world.

What is the Total Supply of Ethereum

Every cryptocurrency has a maximum supply. For example, the maximum supply of Bitcoin is 21 million coins. But Ethereum is different; there is no such limit on Ethereum.

The Ethereum protocol allows for the creation of new coins based on a concept called mining rewards. Whenever a new block is added to the Ethereum blockchain, the miner who successfully verifies the block is rewarded with a certain amount of Ether. This mining reward was initially set at 5 ETH per block but has since been reduced to 2 ETH per block.

Ethereum’s supply is influenced by factors like network upgrades, Ethereum 2.0’s transition, and economic policies. Understanding these dynamics is crucial for predicting future supply changes.

As of October 9, 2023, the total supply of Ethereum was 120.25 million ETH, which was slightly lower than one year ago (120.53 million ETH). This indicates that Ethereum has become more deflationary over time due to the Ethereum 2.0 upgrade and other factors.

However, this may change in the future depending on the development and adoption of Ethereum 2.0, which is expected to introduce major changes to the network’s consensus mechanism, scalability, and security.

Haven’t purchased Ether yet? Buy Ethereum on Blocktrade with different payment methods. You can buy Ethereum with credit cards or buy Ethereum with debit cards. All the methods are available on Blocktrade. 

Even if you want to use your smartphone to purchase this cryptocurrency, Blocktrade allows you to buy Ethereum with ApplePay or GooglePay, too. 

Why is the Total Supply of Ethereum Important? 

The total supply of Ethereum is important for several reasons, including:

what is the importance of total supply of ethereum
  • Economic Stability: As mentioned, Ethereum’s total supply is not capped. However, it has a planned issuance rate, which helps maintain economic stability and prevents excessive inflation. Understanding the total supply is crucial for investors and users to assess the economic policies and potential risks associated with Ethereum.
  • Market Capitalization: Total supply is a key factor in calculating the market capitalization of Ethereum, which is a widely used metric to assess the cryptocurrency’s value and relative size in the market. Market capitalization is calculated by multiplying the price of one Ethereum unit by the total supply.
  • Investment Decisions: Total supply data helps investors make informed decisions. An understanding of the total supply can indicate how much room there is for potential future growth and how the market may react to changes in supply. It can also provide insights into the potential scarcity or abundance of Ethereum tokens.
  • Blockchain Governance: Ethereum’s developers and community members need to consider supply-related parameters when deciding network upgrades and economic policies.

The total supply of Ethereum is important because it reflects the dynamics and evolution of the network. It also influences ETH’s price, scarcity, and demand, which are key factors for investors and users.

How Many Ethereum Are There in Circulation?

As of October 2023, the total number of Ethereum in circulation is around 120.25 million ETH, with a market capitalization of over $400 billion. Furthermore, the daily mining rate of Ether is around 15,000 ETH.

However, this number constantly changes due to adding new blocks to the blockchain. The Ethereum protocol is designed to adjust the mining reward based on the total number of coins in circulation. Hence, as the number of coins increases, the mining reward decreases. This means that the rate at which new Ethereum is created will slow down over time.

What is the Importance of Coins in Circulation?

Coins in circulation in the context of Ethereum refer to the amount of Ether (ETH), Ethereum’s native cryptocurrency, actively traded and used in various transactions and applications. Here’s why the circulation of coins in Ethereum is important:

  • Liquidity: Coins in circulation enhance liquidity, making it easier for users to buy, sell, and trade ETH. 
  • Utility: ETH is not only a store of value but also a utility token used to pay for transactions and interact with smart contracts on the Ethereum blockchain. A significant number of coins in circulation ensures that users can access and use the Ethereum network effectively.
  • Network Security: As with the latest upgrade to the system, Ethereum relies on a Proof of Stake (PoS) consensus mechanism, where users can “stake” their ETH to secure the network. Having a substantial amount of ETH in circulation is essential for the security and decentralization of the network.
  • Market Capitalization: The market capitalization of Ethereum is determined by the circulating supply multiplied by the current price of ETH. A higher market cap can attract more investors and developers to the platform.
  • Price Stability: A balanced circulation of coins can contribute to price stability by preventing large fluctuations caused by limited supply.

Bottom Line

While there is no limit to the number of Ethereum that can be created, the rate of new coin creation is decreasing over time. Ethereum is a unique blockchain network with many exciting features, and it is worth keeping an eye on it if you are a cryptocurrency enthusiast or blockchain investor. Whether you’re looking to invest in Ethereum or simply curious about this popular cryptocurrency, understanding its supply is crucial. Knowing the factors that influence Ethereum’s supply and demand can help you make informed decisions and achieve your investment goals.


Is there a maximum supply of Ethereum?

No, unlike most cryptocurrencies, Ethereum supply is infinite. It means there is no certain number for its supply. However, it has an annual maximum supply. The amount of ETH that can be created and issued per year is currently set at 18 million ETH.

How many Ethereum are destroyed?

It was in August 2021 when a group of Ethereum stakeholders decided to make a major change to this cryptocurrency’s governing rules and technology. This hard fork took place at a conference in London, called London hard fork, which resulted in the evolution of a new version of Ethereum, known as Ethereum 2.0. Due to the changes that occurred to the system, 2.35 million ETH tokens have been removed from circulation. They can never be recovered or used again.

Can we run out of Ethereum?

Since there is no hard cap on the total supply of Ethereum, it is impossible to run out of this cryptocurrency. However, it should be noted that almost 18 million ETH is created annually. But that’s enough for everyone wanting to stake Ethereum or buy it.

Can ETH surpass Bitcoin?

No one can forecast the exact future of cryptocurrency. However, some crypto experts do some research and consider different factors to predict the price of a cryptocurrency in the future. But that’s not guaranteed that a cryptocurrency will perform better than the other. That’s the same for Ethereum and Bitcoin. 

Will I lose Ethereum when 2.0 comes out?

According to the Ethereum Foundation, the transition to Ethereum 2.0 will be a gradual process that will not result in any loss of existing Ethereum holdings. The current Ethereum blockchain will continue to operate alongside the new Ethereum 2.0 blockchain until the transition is complete. Once the transition is complete, users can convert their existing Ethereum tokens to the new Ethereum 2.0 tokens at a 1:1 ratio.

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This is not financial advice. Mentioning coins and tokens is not a recommendation to buy, sell, or participate in the associated network. We would like to encourage you to do your own research and invest at your own risk.

Editorial team

We are a team of crypto enthusiasts. Each of us has extensive theoretical and practical experience in trading, cryptocurrencies, and blockchain. We also like to dig deep and explore. Our goal is to help you make the right and relevant decisions.

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