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 446,598,878 AVAX in circulation at $8.6230 each, which is $3.85B. Holding that supply still and putting TRON's $31.37B in its place gives $70.2374 per AVAX.
A 8.15x 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.
$70.2374 per AVAX. That is TRON's current market capitalisation of $31.37B divided across the 446,598,878 AVAX in circulation.
8.15x. Avalanche trades at $8.6230 today and TRON's market cap is $31.37B against Avalanche's $3.85B.
No. It is one division: TRON'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 $31.37B of market cap spread over more coins gives a lower price per coin. This uses the 446,598,878 AVAX in circulation now.