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 43,623,190,080 HBAR in circulation at $0.07555 each, which is $3.3B. Holding that supply still and putting Chainlink's $8.6B in its place gives $0.19709855 per HBAR.
A 2.61x 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 HBAR at that level, which is the part that actually decides a price.
$0.19709855 per HBAR. That is Chainlink's current market capitalisation of $8.6B divided across the 43,623,190,080 HBAR in circulation.
2.61x. Hedera trades at $0.07555 today and Chainlink's market cap is $8.6B against Hedera's $3.3B.
No. It is one division: Chainlink'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 $8.6B of market cap spread over more coins gives a lower price per coin. This uses the 43,623,190,080 HBAR in circulation now.