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 4,862,930,093 ONDO in circulation at $0.3462 each, which is $1.68B. Holding that supply still and putting Chainlink's $8.56B in its place gives $1.7608 per ONDO.
A 5.09x 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 ONDO at that level, which is the part that actually decides a price.
$1.7608 per ONDO. That is Chainlink's current market capitalisation of $8.56B divided across the 4,862,930,093 ONDO in circulation.
5.09x. Ondo trades at $0.3462 today and Chainlink's market cap is $8.56B against Ondo's $1.68B.
No. It is one division: Chainlink'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 $8.56B of market cap spread over more coins gives a lower price per coin. This uses the 4,862,930,093 ONDO in circulation now.