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 3,302,529,089 MNT in circulation at $0.4996 each, which is $1.65B. Holding that supply still and putting Ethereum's $282.25B in its place gives $85.4643 per MNT.
This is the huge end of the comparison. Mantle would need $280.6B more than it carries today, and at that size it would be one of the largest assets in the world, crypto or otherwise.
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.
$85.4643 per MNT. That is Ethereum's current market capitalisation of $282.25B divided across the 3,302,529,089 MNT in circulation.
171x. Mantle trades at $0.4996 today and Ethereum's market cap is $282.25B against Mantle's $1.65B.
No. It is one division: Ethereum'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 $282.25B of market cap spread over more coins gives a lower price per coin. This uses the 3,302,529,089 MNT in circulation now.