Arithmetic on today's supply, not a forecast. It assumes nothing about whether Gram (prev. Toncoin) could attract that much money.
A coin's market capitalisation is its price multiplied by the number of coins in circulation. Gram (prev. Toncoin) has 2,790,974,420 GRAM in circulation at $1.3630 each, which is $3.8B. Holding that supply still and putting NEAR Protocol's $3.07B in its place gives $1.0984 per GRAM.
Gram (prev. Toncoin) is already worth more than NEAR Protocol. Moving to the smaller cap would take GRAM down to $1.0984, which is 0.806x 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 GRAM at that level, which is the part that actually decides a price.
$1.0984 per GRAM. That is NEAR Protocol's current market capitalisation of $3.07B divided across the 2,790,974,420 GRAM in circulation.
0.806x. Gram (prev. Toncoin) trades at $1.3630 today and NEAR Protocol's market cap is $3.07B against Gram (prev. Toncoin)'s $3.8B.
No. It is one division: NEAR Protocol's market capitalisation spread over the supply of GRAM that exists today. It assumes nothing about whether Gram (prev. Toncoin) 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 $3.07B of market cap spread over more coins gives a lower price per coin. This uses the 2,790,974,420 GRAM in circulation now.