Luna Circulating Supply is the amount of free LUNA floating on the market, thats not locked in vesting or smart contract. In this dashboard, we will try recreating the historical circulating supply of LUNA using onchain data and compare it to popular blockchain data providers.

Using terra.daily_balances ignoring the addresses that are labelled, we can filter out those wallets that are hypothetically vesting addresses and contracts. Then simply aggregating these address balances will give us the expected circulating supply.

We can compare this with Messari Crypto's Supply chart. Messari Crypto is one of the leading blockchain data aggregators and visualizers.

We can see that the trend and pattern of both the charts are similar, except for the recent sudden drop in supply.

CoinmarketCap and CoinGecko which retrives circulating supply from a Terra native API , relatively shows similar value to that of Messari and is off the on-chain data by around 20 Million

We can thus see that its indeed possible to calculate Circulating supply from on-chain data.