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 Sky's $1.47B in its place gives $95.3540 per AAVE.
Aave is already worth more than Sky. Moving to the smaller cap would take AAVE down to $95.3540, which is 0.752x of what it trades at now.
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.
$95.3540 per AAVE. That is Sky's current market capitalisation of $1.47B divided across the 15,396,106 AAVE in circulation.
0.752x. Aave trades at $126.7600 today and Sky's market cap is $1.47B against Aave's $1.95B.
No. It is one division: Sky'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 $1.47B of market cap spread over more coins gives a lower price per coin. This uses the 15,396,106 AAVE in circulation now.