Arithmetic on today's supply, not a forecast. It assumes nothing about whether Aster could attract that much money.
A coin's market capitalisation is its price multiplied by the number of coins in circulation. Aster has 2,704,482,732 ASTER in circulation at $0.6958 each, which is $1.88B. Holding that supply still and putting Chainlink's $8.53B in its place gives $3.1535 per ASTER.
A 4.53x 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 ASTER at that level, which is the part that actually decides a price.
$3.1535 per ASTER. That is Chainlink's current market capitalisation of $8.53B divided across the 2,704,482,732 ASTER in circulation.
4.53x. Aster trades at $0.6958 today and Chainlink's market cap is $8.53B against Aster's $1.88B.
No. It is one division: Chainlink's market capitalisation spread over the supply of ASTER that exists today. It assumes nothing about whether Aster 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 $8.53B of market cap spread over more coins gives a lower price per coin. This uses the 2,704,482,732 ASTER in circulation now.