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 443,227,294 AVAX in circulation at $7.4340 each, which is $3.29B. Holding that supply still and putting UNUS SED LEO's $8.33B in its place gives $18.7957 per AVAX.
A 2.53x 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 AVAX at that level, which is the part that actually decides a price.
$18.7957 per AVAX. That is UNUS SED LEO's current market capitalisation of $8.33B divided across the 443,227,294 AVAX in circulation.
2.53x. Avalanche trades at $7.4340 today and UNUS SED LEO's market cap is $8.33B against Avalanche's $3.29B.
No. It is one division: UNUS SED LEO'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 $8.33B of market cap spread over more coins gives a lower price per coin. This uses the 443,227,294 AVAX in circulation now.