Tezos

XTZ · Layer-1
Checked
Oct 23 2026
The big picture
5 / 10Total score0510
Supply + DemandMax. 10
Hold XTZ? We'll warn you first.
Free · 2 coins

Coming next

No single dated event in the next 90 days.

Metric 1 of 3

XTZ · Coin Supply

Stakers earn new XTZ every block. Burns barely dent it.

2.5 / 5Moderate
Age8.3 yearssince Jun 2018
Unlocked98.2%of total supply
Last 90 days+0.73%new supply
Next 90 days+0.73%estimate

XTZ runs Tezos: 1.10B coins circulate, 98% of them unlocked. Bakers and stakers are paid in new XTZ, and storage fees are destroyed.

Sell pressure. Staking rewards created 8.07M XTZ in 90 days, about 2.8% a year. Old fundraiser claims added 15,684. Nothing vests.

Buy pressure. Burns removed 62,973 XTZ, half of it from six lost rollup bonds in August that will not repeat.

Net. Net, supply grows about 0.73% in 90 days, and the same next.

Inflation
Last 90 Days
+0.73%
checked · Oct 19 2026
Net flow: 0.73% of supply goes to market over 90 days
Next 90 Days
+0.73%
estimate
Net flow: 0.73% of supply goes to market next 90 days
Supply growing · projected to keep growing
Sell pressure
1. Protocol inflation
~8.07M XTZ

Every block the protocol creates new XTZ to pay bakers, stakers and delegators. The yearly rate adjusts by itself to how much XTZ is staked: about 31% is staked now, and the chain reads a rate of 2.81% a year. Over these 90 days 8,071,689 new XTZ were created, about 89,700 a day. The extra subsidy for the built-in exchange has been switched off by bakers since Jun 2 2026, so it adds nothing.

checked · Oct 19 2026
2. Vesting unlocks
0

XTZ has no vesting left. The Foundation and early-team shares vested monthly over four years and finished in 2022. No unlock is scheduled.

checked · Oct 19 2026
3. Foundation + unscheduled unlocks
~15.7K XTZ

About 19.97M XTZ from the 2017 fundraiser has never been claimed, so it is not counted as circulating. Buyers claimed 15,684 XTZ of it in five claims this window (Jul 28 to Oct 13 2026), and about 93,500 over the last year, so we expect roughly 23,400 next. The Tezos Foundation holds about 91.57M XTZ in 16 known wallets (4 bakers, 10 delegators, 2 new staking wallets filled in early October); it reported XTZ worth $76M at Dec 31 2025. All of that is already counted as circulating, so a Foundation sale adds no new supply.

checked · Oct 19 2026
4. Long-term locked or bankruptcy
0

No bankruptcy estate, trustee or long lock holds XTZ. Staked XTZ and rollup bonds can be withdrawn, and they already count as circulating.

checked · Oct 19 2026
Buy pressure
1. Programmatic buyback
0

Nothing buys XTZ back. Fees go to bakers or are destroyed, and the destroyed part is counted as the fee burn below.

checked · Oct 19 2026
2. Protocol fee burn
~32.97K XTZ

Storage fees and new-account fees are destroyed when paid: 23,244 XTZ in 90 days. The built-in exchange also destroys 0.1% of every trade, which sent 9,730 XTZ to an address no one can spend from. Together 32,973 XTZ, about 366 a day.

checked · Oct 19 2026
3. Foundation buy
0

The Foundation stakes and moves XTZ between its own wallets; nothing this window shows it buying XTZ.

checked · Oct 19 2026
4. New long-term lock
0

Staking grew by about 13.3M XTZ this window, partly from Foundation wallets. Staked XTZ still counts as circulating and can be unstaked, so it takes nothing out of the float.

checked · Oct 19 2026
5. Lost rollup bonds
~30.0K XTZ

Between Aug 15 and Aug 18 2026, six disputes on the Etherlink rollup ended with the losing side giving up a 10,000 XTZ bond: half went to the winner, half was destroyed. A one-off, so the next 90 days count 0.

checked · Oct 19 2026
Supply check · sell, buy & net
 
Last 90D
Next 90D
Sell total (M XTZ)
8.087
8.095
Buy total (M XTZ)
0.063
0.033
Sell % of circ
+0.736%
+0.736%
Buy % of circ
+0.006%
+0.003%
Net inflation %
+0.730%
+0.733%
Circulating supply: 1099.259M XTZ
Read the full Inflation Analysis
XTZ: stakers earn new coins every block, and the burns take out less than 1% of them.
Long-form mechanism walk. ~5 min.
Metric 2 of 3

XTZ · Coin Demand

Two sides: how much people want XTZ right now, and how much buying could come later.

2.5 / 5Modest

Current demand2 / 2.5

It shows how hot XTZ is right now. A better rank means more people are talking about it.

XTZ on social mediaIts rank among the 110 coins we follow · last 12 months · #1 = most talked about
#26 · Oct 19 2026

Today, people are talking about XTZ for two reasons:

  1. 1
    Kraken has delays with XTZ withdrawals.

    On Oct 22 2026, Kraken said it has delays with Tezos (XTZ) withdrawals and is working to fix them. Deposits and trading were not part of the notice. People ask how long the fix will take, and if their coins are safe.

  2. 2
    A new Tezos upgrade round has started.

    A new Tezos proposal period opened on Oct 21 2026 and runs to Nov 4 2026. No upgrade has been proposed yet, and 199 bakers can vote. People ask what the next Tezos upgrade will bring, after the team asked the community for ideas.

Checked Oct 22 2026

Metric 3 of 3

XTZ · Price DriversBeta

The few things that can move XTZ's price that supply and demand miss.

1 · Etherlink deposits

Watch
More money on Etherlink → price upMoney leaves Etherlink → price downnow
Etherlink TVL
02040608010020252026AnchoragePeak $81.6M15.9$M
02040608010020252026AnchoragePeak $81.6M15.9$M

Etherlink deposits sit about 80% below their Oct 2025 peak.

Data
DateEtherlink TVL
Jul 31 2026$15.8M
Aug 31 2026$14.9M
Sep 30 2026$16.1M
Oct 23 2026$15.9M
Checked Oct 19 2026

2 · Upgrade votes

Watch
Upgrades keep shipping → price upnowUpgrades stall → price down
  1. May 1 2025Rio upgrade live
  2. Sep 19 2025Seoul upgrade live
  3. Jan 24 2026Tallinn upgrade live
  4. May 4 2026Tezos X Previewnet
  5. Jun 30 2026Ushuaia upgrade live
  6. Sep 24 2026Quantumnet testnet
  7. Today
    Oct 21 2026Proposal window closes

Still no new proposal; this window closes Oct 21 2026.

Data
DateWhat happened / what is coming
May 1 2025Rio upgrade live
Sep 19 2025Seoul upgrade live
Jan 24 2026Tallinn upgrade live
May 4 2026Tezos X Previewnet
Jun 30 2026Ushuaia upgrade live
Sep 24 2026Quantumnet testnet
Oct 21 2026Proposal window closes (coming)
Checked Oct 19 2026

3 · Foundation treasury

Watch
Treasury holds steady → price upTreasury keeps shrinking → price downnow
All assetsXTZ part
02004006008002025530$MXTZ part76$M
02004006008002025530$MXTZ part76$M

Treasury fell from $767M to $530M in about 640 days.

Data
DateAll assetsXTZ part
Mar 31 2024$767M$184M
Dec 31 2024$749M$181M
Jun 30 2025$641M$72M
Dec 31 2025$530M$76M
Checked Oct 19 2026

Tezos (XTZ) supply: questions people ask

Is Tezos (XTZ) inflationary or deflationary?

Tezos (XTZ) is inflationary right now: its supply changes +0.73% over the next 90 days and +2.93% over the next year (checked Oct 19 2026). More XTZ is added than removed.

What is the XTZ inflation rate in 2026?

About +2.93% a year: that is how much Tezos (XTZ) supply changes over the next 12 months, with +0.73% in the next 90 days (checked Oct 19 2026). That puts XTZ #54 of 101 coins we track for new supply (#1 = the most new supply).

When is the next XTZ token unlock?

No dated Tezos (XTZ) unlock is scheduled in the next 90 days (checked Oct 19 2026). New XTZ still arrives: about 8.1M XTZ in 90 days.

Does Tezos burn or buy back XTZ?

Yes. In our count, about 33K XTZ is expected to leave the market over the next 90 days through burns, buybacks or locks (checked Oct 19 2026). How it works: No buyback; storage and exchange burns destroyed 32,973 XTZ and six lost rollup bonds another 30,000.

Where does new XTZ supply come from?

In our count, about 8.1M new XTZ reaches the market over the next 90 days (checked Oct 19 2026). How it works: 8.07M new XTZ paid to stakers and bakers in 90 days under adaptive issuance, plus 15,684 XTZ of old 2017 fundraiser coins claimed.

How much XTZ is in circulation?

About 1.1B XTZ is in circulation (checked Oct 19 2026). Over the next 90 days that changes +0.73%, and over a year +2.93%.

Does XTZ have more new supply than PENDLE, SPX or SUN?

Over the next 90 days (checked Oct 19 2026): XTZ +0.73%, PENDLE +1.86%, SPX 0.00%, SUN −0.04%. XTZ sits in the middle of these 4 coins.

Every answer here applies basic economic theory — the law of supply and demand — to this coin's data. It is not financial advice. How we read every coin →

How does MrNasDog judge every coin, and why is +0.73% shown in red?

We look at two things: supply and demand. Fewer new coins mean less selling pressure. We also show each coin's age, with a warning when it is younger than 1 year. Demand shows how much people want the coin. Price Drivers (Beta) are the 2 or 3 things that can move one coin's price that supply and demand miss. XTZ supply grows +0.73% in the next 90 days, so it shows in red: more XTZ reaches the market than is removed. Zero or falling supply is always green, any growth is red.

What do Watch XTZ alerts cover?

One email before each big supply event, and the day our verdict changes. Nothing else. You can watch 2 coins for free.

Related supply research: PENDLE +1.86% · SPX 0.00% · SUN −0.04% · All crypto inflation rates (110 coins) → · Full XTZ supply report → · Embed this coin

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