What means total supply?

Could you please elaborate on the concept of "total supply" in the context of cryptocurrency? I understand it's a crucial term, but I'm still unsure of its precise definition and significance in the world of digital assets. Specifically, how does it differ from circulating supply, and why is it important for investors and traders to keep track of it? Additionally, how does total supply affect the value and stability of a cryptocurrency? I'd appreciate a clear and concise explanation that helps me grasp the concept better.