EVE Online's November 2025 Monthly Economic Report: What's Up With The Money Supply?

Today CCP published the monthly economic report (MER) for November 2025. Something didn't seem right so I started doing a little digging.

As seen on 8 December 2025

The New Eden money supply dropping 4% in a month with an expansion? Either Catalyst was a horrible expansion or something was off in the report. So I looked up Jester's latest graph to do a sanity check.

Jester's November ACU graph

Looks like the issue wasn't the popularity of Catalyst. Looks like the seven-day running average of accounts logged in at any one time was up around 20%. The issue then was the report. I then opened up the money_supply.csv file and discovered the end of month total wasn't 2,379.4 trillion ISK. The New Eden economy actually had 2,614.5 trillion ISK. The ISK Sinks and Faucets chart was off by 9%. The money supply didn't shrink by 4% in November. The money supply actually grew by 5.5%. Yikes!

The EOM amount didn't change for 3 months

After doing a little investigation I found the issue also affected the September and October MER as well. Looking at the money_supply.csv file I found the end-of-month figure came from 30 August 2025. I'm not sure if 31 August 2025 having no entry in the file was an issue, but the issue affected the Average ISK Delta as well. I've put what the reports should have contained below.

The corrected AID and EOM figures

And yes, the 112.2 trillion ISK that flowed into the New Eden economy due to the movement of players into the game in November was a record, at least in raw numbers. As a percentage increase in the money supply. last month's increase of 4.5% was beat by November 2023 (5.3%), November 2022 (4.9%) and May 2019 (4.7%).

Going back I had stopped doing monthly Active ISK Delta posts before the issue appeared, but I probably do need to correct this post on quarterly Active ISK Delta totals.

I want to do more with the money supply because I found some interesting information. For example, year-over-year the money supply increased in November by 7.5%, but the amount of ISK spent increased by 15% to 1,115.6 trillion ISK. That's right. Players spent over 1 QUADRILLION ISK last month. I can't even comprehend that.

I asked Copilot for some visualization help. If one stacked 1.115.6 trillion 1 Icelandic krona coins on top of each other the stack would run from Jita to Hek ... over 6 times. That's approximately 12,300 astronomical units. Of course, that's using the jump gate network and not a direct line. Stacking the coins would take much too long without the use of jump gates. Even if the calculation is an AI hallucination, the number put a smile on my face.

(For those who want a simpler visualization, New Eden is roughly 90 light years at its widest, or roughly half as long as a stack of 1.115.6 trillion 1 Icelandic krona coins.)

Okay, the idea of stacking coins was mine. But the sheer scale of the EVE Online economy is staggering if one actually thinks about it. But for now, I need to log off and think some more about large numbers.