Most market cap sites pull Monero's circulating supply from an aggregator (CoinGecko, CoinMarketCap), which refreshes infrequently and can lag the real chain by hundreds of thousands of XMR. We compute the supply directly from the current block height using Monero's published emission formula.

The formula

supply ≈ 18,132,009 + (current_height − 2,641,623) × 0.6

• 18,132,009 XMR — approximate total emitted before tail emission began
• Block 2,641,623 — the block at which tail emission activated (≈ May 2022)
• 0.6 XMR per block — the fixed tail emission reward that continues forever

At block 3,661,449: 18,132,009 + (3,661,449 − 2,641,623) × 0.6 = 18,743,905 XMR

How we verify the block height

Our backend runs a full Monero node (via our self-hosted BTCPay Server) that is in constant sync with the Monero network. The block height reported above is read directly from our node every few minutes — not from any third-party aggregator or block explorer.

Caveats — why this is an estimate, not an exact figure

The formula above gives the supply from base block rewards only. It does not include transaction fees, which are also added to each coinbase transaction. Over 1M+ blocks since tail emission began, accumulated fees add roughly 10,000–20,000 XMR to the true total.

For the exact total (block rewards + all tx fees, summed from genesis), see moneroinflation.com, which runs the full Monero consensus code to verify every block's emission. Our number is typically within ~0.1% of theirs, and always closer to the truth than CoinGecko's (which commonly lags by hundreds of thousands of XMR).

Verify it yourself

• Monero's official tail emission documentation
• Emission constants in the Monero source code
• moneroinflation.com — independent full-node supply verifier
• monero_inflation_checker — the tool behind moneroinflation.com