Arithmetic on today's supply, not a forecast. It assumes nothing about whether Mantle could attract that much money.
A coin's market capitalisation is its price multiplied by the number of coins in circulation. Mantle has 3,300,442,828 MNT in circulation at $0.5542 each, which is $1.83B. Holding that supply still and putting Bitcoin Cash's $4.53B in its place gives $1.3729 per MNT.
A 2.48x 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 MNT at that level, which is the part that actually decides a price.
$1.3729 per MNT. That is Bitcoin Cash's current market capitalisation of $4.53B divided across the 3,300,442,828 MNT in circulation.
2.48x. Mantle trades at $0.5542 today and Bitcoin Cash's market cap is $4.53B against Mantle's $1.83B.
No. It is one division: Bitcoin Cash's market capitalisation spread over the supply of MNT that exists today. It assumes nothing about whether Mantle 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 $4.53B of market cap spread over more coins gives a lower price per coin. This uses the 3,300,442,828 MNT in circulation now.