Arithmetic on today's supply, not a forecast. It assumes nothing about whether Canton could attract that much money.
A coin's market capitalisation is its price multiplied by the number of coins in circulation. Canton has 39,726,794,033 CC in circulation at $0.09812 each, which is $3.9B. Holding that supply still and putting NEAR Protocol's $3.06B in its place gives $0.07708915 per CC.
Canton is already worth more than NEAR Protocol. Moving to the smaller cap would take CC down to $0.07708915, which is 0.786x 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 CC at that level, which is the part that actually decides a price.
$0.07708915 per CC. That is NEAR Protocol's current market capitalisation of $3.06B divided across the 39,726,794,033 CC in circulation.
0.786x. Canton trades at $0.09812 today and NEAR Protocol's market cap is $3.06B against Canton's $3.9B.
No. It is one division: NEAR Protocol's market capitalisation spread over the supply of CC that exists today. It assumes nothing about whether Canton 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 $3.06B of market cap spread over more coins gives a lower price per coin. This uses the 39,726,794,033 CC in circulation now.