What is the circulating supply of Highstreet (HIGH) coins?

What is the Circulating Supply of Highstreet (HIGH) Coins?

Highstreet is a blockchain-based metaverse platform that enables users to create, own, and monetize virtual worlds. The platform's native token, HIGH, is used for various transactions within the metaverse, such as purchasing land, creating NFTs, and participating in governance.

The circulating supply of a cryptocurrency refers to the number of coins that are currently in circulation and available for trading. It is a crucial metric that provides insight into the availability and liquidity of a coin. In the case of HIGH, the circulating supply is a significant factor that influences its price and market capitalization.

Determining the Circulating Supply of HIGH Coins

The circulating supply of HIGH coins is determined by subtracting the number of coins held in reserve from the total supply. This includes coins that have been burned, lost, or locked in smart contracts.

Step 1: Identify the Total Supply

The total supply of HIGH coins is fixed and predetermined. This information is publicly available on the Highstreet website or through blockchain explorers. As of March 2023, the total supply of HIGH is set at 100,000,000 coins.

Step 2: Account for Burned Coins

Coin burns involve the permanent destruction of a portion of the circulating supply. This can be done for various reasons, such as reducing the overall supply or increasing the scarcity of the coin. Highstreet has conducted several coin burns in the past, removing a significant number of HIGH coins from circulation.

Step 3: Exclude Reserved Coins

Reserved coins are coins that are set aside for specific purposes, such as future development, marketing initiatives, or team compensation. These coins are not immediately available for trading and are not included in the circulating supply.

Step 4: Consider Locked Coins

Locked coins are coins that are temporarily unavailable for trading due to smart contracts or vesting periods. These coins may be used for collateral, rewards, or other purposes that restrict their immediate liquidity.

Step 5: Calculate Circulating Supply

Once all these factors have been taken into account, the circulating supply of HIGH coins can be calculated using the following formula:

Circulating Supply = Total Supply - Burned Coins - Reserved Coins - Locked Coins

In March 2023, the circulating supply of HIGH coins is approximately 65,000,000, based on the following assumptions:

• Total Supply: 100,000,000 HIGH
• Burned Coins: 15,000,000 HIGH
• Reserved Coins: 10,000,000 HIGH
• Locked Coins: 10,000,000 HIGH

Factors Affecting the Circulating Supply of HIGH Coins

Several factors can influence the circulating supply of HIGH coins over time, including:

• Coin Burns: Burning coins reduces the circulating supply and increases the scarcity of the coin. This can potentially increase its value.
• Issuance of New Coins: If Highstreet decides to issue new HIGH coins, the circulating supply will increase. This can occur through mining rewards, staking rewards, or other mechanisms.
• Changes in Reserved Coins: Highstreet may adjust the number of reserved coins in the future to meet specific needs or goals. This can impact the circulating supply if the reserved coins are released or locked.
• Unlocking of Locked Coins: When locked coins are released into circulation, the circulating supply will increase. This can happen after vesting periods expire or when coins are used for specific purposes.