Arithmetic on today's supply, not a forecast. It assumes nothing about whether Chainlink could attract that much money.
A coin's market capitalisation is its price multiplied by the number of coins in circulation. Chainlink has 752,783,683 LINK in circulation at $11.4020 each, which is $8.58B. Holding that supply still and putting Hyperliquid's $19.97B in its place gives $26.5259 per LINK.
A 2.33x 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 LINK at that level, which is the part that actually decides a price.
$26.5259 per LINK. That is Hyperliquid's current market capitalisation of $19.97B divided across the 752,783,683 LINK in circulation.
2.33x. Chainlink trades at $11.4020 today and Hyperliquid's market cap is $19.97B against Chainlink's $8.58B.
No. It is one division: Hyperliquid's market capitalisation spread over the supply of LINK that exists today. It assumes nothing about whether Chainlink 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 $19.97B of market cap spread over more coins gives a lower price per coin. This uses the 752,783,683 LINK in circulation now.