Arithmetic on today's supply, not a forecast. It assumes nothing about whether BNB could attract that much money.
A coin's market capitalisation is its price multiplied by the number of coins in circulation. BNB has 131,313,977 BNB in circulation at $746.8100 each, which is $98.07B. Holding that supply still and putting Hyperliquid's $19.89B in its place gives $151.5042 per BNB.
BNB is already worth more than Hyperliquid. Moving to the smaller cap would take BNB down to $151.5042, which is 0.203x 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 BNB at that level, which is the part that actually decides a price.
$151.5042 per BNB. That is Hyperliquid's current market capitalisation of $19.89B divided across the 131,313,977 BNB in circulation.
0.203x. BNB trades at $746.8100 today and Hyperliquid's market cap is $19.89B against BNB's $98.07B.
No. It is one division: Hyperliquid's market capitalisation spread over the supply of BNB that exists today. It assumes nothing about whether BNB 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 $19.89B of market cap spread over more coins gives a lower price per coin. This uses the 131,313,977 BNB in circulation now.