Arithmetic on today's supply, not a forecast. It assumes nothing about whether Litecoin could attract that much money.
A coin's market capitalisation is its price multiplied by the number of coins in circulation. Litecoin has 77,121,117 LTC in circulation at $54.1600 each, which is $4.18B. Holding that supply still and putting Ondo's $1.69B in its place gives $21.9187 per LTC.
Litecoin is already worth more than Ondo. Moving to the smaller cap would take LTC down to $21.9187, which is 0.405x 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 LTC at that level, which is the part that actually decides a price.
$21.9187 per LTC. That is Ondo's current market capitalisation of $1.69B divided across the 77,121,117 LTC in circulation.
0.405x. Litecoin trades at $54.1600 today and Ondo's market cap is $1.69B against Litecoin's $4.18B.
No. It is one division: Ondo's market capitalisation spread over the supply of LTC that exists today. It assumes nothing about whether Litecoin 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 $1.69B of market cap spread over more coins gives a lower price per coin. This uses the 77,121,117 LTC in circulation now.