Arithmetic on today's supply, not a forecast. It assumes nothing about whether Aave could attract that much money.
A coin's market capitalisation is its price multiplied by the number of coins in circulation. Aave has 15,396,106 AAVE in circulation at $126.7600 each, which is $1.95B. Holding that supply still and putting Bitcoin Cash's $4.51B in its place gives $293.1426 per AAVE.
A 2.31x move is modest, and a coin this far down the table reaching the one above it is the ordinary shape of a cycle, not an outlier.
Supply is held still, and in practice it moves: coins are minted, burned and unlocked, and every one of those changes the price a given market capitalisation implies. The figure also says nothing about whether the money exists to buy AAVE at that level, which is the part that actually decides a price.
$293.1426 per AAVE. That is Bitcoin Cash's current market capitalisation of $4.51B divided across the 15,396,106 AAVE in circulation.
2.31x. Aave trades at $126.7600 today and Bitcoin Cash's market cap is $4.51B against Aave's $1.95B.
No. It is one division: Bitcoin Cash's market capitalisation spread over the supply of AAVE that exists today. It assumes nothing about whether Aave could attract that much money, and it holds the supply still when in practice supply changes.
It sets it. Market cap is price times circulating supply, so the same $4.51B of market cap spread over more coins gives a lower price per coin. This uses the 15,396,106 AAVE in circulation now.