Arithmetic on today's supply, not a forecast. It assumes nothing about whether Internet Computer could attract that much money.
A coin's market capitalisation is its price multiplied by the number of coins in circulation. Internet Computer has 553,375,378 ICP in circulation at $2.7160 each, which is $1.5B. Holding that supply still and putting Bitway's $1.54B in its place gives $2.7834 per ICP.
The two are close in size, so the answer is a 1.02x move. Internet Computer and Bitway are within a factor of two of each other by market capitalisation.
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 ICP at that level, which is the part that actually decides a price.
$2.7834 per ICP. That is Bitway's current market capitalisation of $1.54B divided across the 553,375,378 ICP in circulation.
1.02x. Internet Computer trades at $2.7160 today and Bitway's market cap is $1.54B against Internet Computer's $1.5B.
No. It is one division: Bitway's market capitalisation spread over the supply of ICP that exists today. It assumes nothing about whether Internet Computer 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 $1.54B of market cap spread over more coins gives a lower price per coin. This uses the 553,375,378 ICP in circulation now.