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The total supply held by "liquid" entities. The liquidity of an entity is defined as the ratio of cumulative outflows and cumulative inflows over the entity's lifespan. An entity is considered to be illiquid / liquid / highly liquid if its liquidity L is ≲ 0.25 / 0.25 ≲ L ≲ 0.75 / 0.75 ≲ L, respectively. For more information see our introductory article on Bitcoin liquidity.
Latest value: 2,532,114.23629829 (as of 13 Feb 2026)