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 15,497,040 AAVE in circulation at $127.0800 each, which is $1.97B. Holding that supply still and putting Bittensor's $2.69B in its place gives $173.7162 per AAVE.
The two are close in size, so the answer is a 1.37x move. Aave and Bittensor are within a factor of two of each other by market capitalisation.
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.
$173.7162 per AAVE. That is Bittensor's current market capitalisation of $2.69B divided across the 15,497,040 AAVE in circulation.
1.37x. Aave trades at $127.0800 today and Bittensor's market cap is $2.69B against Aave's $1.97B.
No. It is one division: Bittensor'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 $2.69B of market cap spread over more coins gives a lower price per coin. This uses the 15,497,040 AAVE in circulation now.