Arithmetic on today's supply, not a forecast. It assumes nothing about whether Hedera could attract that much money.
A coin's market capitalisation is its price multiplied by the number of coins in circulation. Hedera has 44,577,213,346 HBAR in circulation at $0.07323 each, which is $3.26B. Holding that supply still and putting Ethereum's $282.25B in its place gives $6.3317 per HBAR.
Hedera would have to take on $278.98B of new money to get there. A 86.5x move is large: it happens, and it usually needs the whole market to grow instead of one coin to take share from another.
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 HBAR at that level, which is the part that actually decides a price.
$6.3317 per HBAR. That is Ethereum's current market capitalisation of $282.25B divided across the 44,577,213,346 HBAR in circulation.
86.5x. Hedera trades at $0.07323 today and Ethereum's market cap is $282.25B against Hedera's $3.26B.
No. It is one division: Ethereum's market capitalisation spread over the supply of HBAR that exists today. It assumes nothing about whether Hedera 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 $282.25B of market cap spread over more coins gives a lower price per coin. This uses the 44,577,213,346 HBAR in circulation now.