Arithmetic on today's supply, not a forecast. It assumes nothing about whether Ethereum could attract that much money.
A coin's market capitalisation is its price multiplied by the number of coins in circulation. Ethereum has 122,012,595 ETH in circulation at $2,520.70 each, which is $307.56B. Holding that supply still and putting Bitcoin's $1.55T in its place gives $12,705.28 per ETH.
A 5.04x 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 ETH at that level, which is the part that actually decides a price.
$12,705.28 per ETH. That is Bitcoin's current market capitalisation of $1.55T divided across the 122,012,595 ETH in circulation.
5.04x. Ethereum trades at $2,520.70 today and Bitcoin's market cap is $1.55T against Ethereum's $307.56B.
No. It is one division: Bitcoin's market capitalisation spread over the supply of ETH that exists today. It assumes nothing about whether Ethereum 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 $1.55T of market cap spread over more coins gives a lower price per coin. This uses the 122,012,595 ETH in circulation now.