Arithmetic on today's supply, not a forecast. It assumes nothing about whether Ondo could attract that much money.
A coin's market capitalisation is its price multiplied by the number of coins in circulation. Ondo has 4,865,849,502 ONDO in circulation at $0.3474 each, which is $1.69B. Holding that supply still and putting Aster's $1.88B in its place gives $0.38599625 per ONDO.
The two are close in size, so the answer is a 1.11x move. Ondo and Aster 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 ONDO at that level, which is the part that actually decides a price.
$0.38599625 per ONDO. That is Aster's current market capitalisation of $1.88B divided across the 4,865,849,502 ONDO in circulation.
1.11x. Ondo trades at $0.3474 today and Aster's market cap is $1.88B against Ondo's $1.69B.
No. It is one division: Aster's market capitalisation spread over the supply of ONDO that exists today. It assumes nothing about whether Ondo 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 $1.88B of market cap spread over more coins gives a lower price per coin. This uses the 4,865,849,502 ONDO in circulation now.