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 Cronos's $2.89B in its place gives $0.87507634 per MNT.
The two are close in size, so the answer is a 1.58x move. Mantle and Cronos 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 MNT at that level, which is the part that actually decides a price.
$0.87507634 per MNT. That is Cronos's current market capitalisation of $2.89B divided across the 3,300,442,828 MNT in circulation.
1.58x. Mantle trades at $0.5542 today and Cronos's market cap is $2.89B against Mantle's $1.83B.
No. It is one division: Cronos'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 $2.89B of market cap spread over more coins gives a lower price per coin. This uses the 3,300,442,828 MNT in circulation now.