Total supply represents all tokens that have been created or minted to date, minus any tokens that have been verifiably burned or destroyed. It includes both circulating tokens and those that are locked in vesting contracts, held in treasury wallets, or reserved for future distribution.
The difference between total supply and circulating supply reveals how many tokens are still locked or reserved. A large gap between these two numbers can indicate significant future selling pressure as locked tokens gradually enter circulation.
Understanding total supply helps investors assess the current inflation rate and anticipate how the circulating supply will grow over time as vesting schedules complete and reserved tokens are released.