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 UNUS SED LEO's $8.33B in its place gives $2.5249 per MNT.
A 4.56x 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.
$2.5249 per MNT. That is UNUS SED LEO's current market capitalisation of $8.33B divided across the 3,300,442,828 MNT in circulation.
4.56x. Mantle trades at $0.5542 today and UNUS SED LEO's market cap is $8.33B against Mantle's $1.83B.
No. It is one division: UNUS SED LEO'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 $8.33B of market cap spread over more coins gives a lower price per coin. This uses the 3,300,442,828 MNT in circulation now.