Arithmetic on today's supply, not a forecast. It assumes nothing about whether Avalanche could attract that much money.
A coin's market capitalisation is its price multiplied by the number of coins in circulation. Avalanche has 442,389,654 AVAX in circulation at $7.4000 each, which is $3.27B. Holding that supply still and putting Aster's $1.87B in its place gives $4.2318 per AVAX.
Avalanche is already worth more than Aster. Moving to the smaller cap would take AVAX down to $4.2318, which is 0.572x 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 AVAX at that level, which is the part that actually decides a price.
$4.2318 per AVAX. That is Aster's current market capitalisation of $1.87B divided across the 442,389,654 AVAX in circulation.
0.572x. Avalanche trades at $7.4000 today and Aster's market cap is $1.87B against Avalanche's $3.27B.
No. It is one division: Aster's market capitalisation spread over the supply of AVAX that exists today. It assumes nothing about whether Avalanche 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 $1.87B of market cap spread over more coins gives a lower price per coin. This uses the 442,389,654 AVAX in circulation now.